|Operating Engineers Local 66 Pension Fund|
You may retire on or after reaching your normal retirement date provided you satisfy all of the following conditions:
The date you satisfy these conditions is called the normal retirement date. If you retire on or after January 1, 2003, your monthly normal retirement benefit is the sum of:
For those individuals who have a retirement date on or after January 1, 2004, the maximum annual pension benefit payable will be the benefit as calculated through December 31, 2003 or $40,000.00, whichever is larger.
For those individuals who have a retirement date on or after January 1, 2009, the maximum annual pension benefit payable is $60,000.00. Different (or no) maximums applied before January 1, 2009.
AGE 70 1/2 REQUIREMENT - You must begin to receive pension benefits no later than April 1st following the calendar year in which you obtain age 70 1/2.