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GUIDELINES
TO RETIREMENT
Benefits become payable commencing with the first day of
the month following the
month in which the application was filed with the Trustees, providing
the Participant has filed an application with the Fund Office, fulfilled
all the conditions for entitlement to benefits and it is determined that
the Participant has retired.
Due to the processing and verification of employment,
you may not receive a pension payment on your retirement date but may
experience a delay. In the event of a delay in the starting of your
pension, your pension payment(s) will be retroactive to your effective
date . Example:
If you terminate active
employment June 30th and
retire July 1st,
your effective date will be July 1st (unless you request a later date
such as August 1st.)
however, due to processing and verification of employment and
retirement, you may not receive your first pension check until August 1st,
which will include payments for July and August.
• 1
year Before Retirement
You should request a retirement pension estimate from
the Fund Office and advise of your intent to retire within the next
year. If you think you may be entitled to past service with the company
or service with any other company, you should inform the Fund at this
time. The Fund will send you the necessary documents for signature in
order to verify this service.
• 4
Months Before Retirement
Request retirement packet: This will include an updated
pension estimate based on the information obtained within the last year
an application forms to be completed in order to start your pension.
• 3
Months Before Retirement
Send the original application forms (completed and
signed) to the Fund Office within 90
days of the effective date of
your pension. (Due to IRS regulations, retirement forms cannot
be signed prior to 90
days of the effective date or
commencement date.) Example: if
you want to start pension benefits on June 1st,
you cannot sign the application prior to March 1st.
Contact your
Union Pension Committee Member and together you will contact the
Clearwater Paper Human Resources Department of your intent to retire.
NOTE : A covered
employee shall be deemed to have retired when he has ceased being
employed or engaged in the following for at least 30
consecutive days:
Employment with any Contributing Employer or Employer:
Employment or self-employment with any other employer in
the same business as any Employer, in a trade or craft in which the
employee was employed at any time under the Plan, and in the geographic
area covered by the Plan; except the conditions of Article
IV, Section 16, shall apply
after the Covered Employee attains
Normal Retirement Age.
Upon receipt of the application, the Fund will be
requesting employment verification from the company; and
30 days after
your intended retirement date a Retirement
Verification Form is sent to the
company to confirm
your retirement.
If you have any questions, please contact 1.800.474.8673.
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