The pension improvements for both current and future pensioners are made possible by the Pension Fund’s strong recent investment performance and its current fiscal health. With these increases, the Pension Fund remains well funded.
The pension improvements will begin July 1, 2015 for all current pensioners and August 1, 2015 for those who begin their pension in the future.
Yes, and your earnings will continue to count toward building your pension payments. However, if you are younger than 62, you cannot start your pension while you are working.
You will receive the 10% increase for the pension you earned before July 1, and you will receive the $12 per month credit -– but not the 10% increase – for any work you perform afterwards.
The Fund’s Trustees and staff understand that participants in the Equity-League Pension Fund rely on their pensions. Future improvements will be considered if the Fund’s performance can responsibly sustain them.
No, the Pension Fund and Health Fund are separate legal entities and it is not permissible under governing law to transfer resources from one to the other.
Other questions?
For complete details about Equity-League Benefit Funds 401(k) benefits, refer to the Equity-League Benefit Funds Pension and 401k SPD. If you have additional questions or need assistance, contact the Equity-League Benefit Services Department at (212) 869-9380 or outside the NY Metro area, at 1-800-344-5220 from 9:30 am to 5:30 pm ET