UA Local 447 Pipe Trades Trust Funds

Age	Age 63 or older

Service & Other	(Effective July 1, 1998) 5 or more Years of Credited Service, including one Hour (300 Hours, if in a Break in Service ) on or after July 1, 1998; or The later of age 65 or the 5th anniversary of participation See also: Pre July 1, 1998 Vesting Schedule

Basic Benefit	For participants retiring on or after January 1, 2001 with 300 or more Hours worked in the Plan Year ended June 30, 2000 (if your last Plan Year with 300 or more Hours was prior to July 1, 1999, click here ): Basic Monthly Benefit earned by Plan Year ended June 30: Prior to 7-1-1956: $5/year of Past Service up to $60 Plan Years 1957-1969: $17/ Benefit Accrual Unit up to $60 Plan Years 1970-1986: $65/Benefit Credit (Benefit Credit = Hours/1200, minimum 375 Hours, no maximum) Plan Years 1987-1990: $65/Benefit Credit (Benefit Credit = Hours/1200, minimum 300 Hours, no maximum) Plan Years 1991-2000: $100/Benefit Credit (Benefit Credit = Hours/1200, minimum 300 Hours, no maximum) 2001 and later Plan Years: $60/Benefit Credit (Benefit Credit = Hours/1200, minimum 300 Hours, no maximum) For purposes of determining Benefit Credit in the Basic Benefit calculation, each Hour contributed at less than the Standard Journeyman Contribution Rate, is adjusted by the ratio of the actual Contribution Rate to the Standard Journeyman Contribution Rate. See also: Military Service rules Late Retirement

Forms of Payment	Qualified Joint and 50% Survivor Annuity (automatic with Spouse) Three-Year Certain and Life Annuity (automatic with no Spouse) – plus 6 monthly payments following certain period Ten-Year Certain and Life Annuity Joint and Survivor Annuity (50%, 66-2/3%, 75%, 100%) Pop-up Joint and Survivor Annuity (50%, 66-2/3%, 75%, 100%) Reduction Factors See also: Pension Enhancement Option Lump Sum for small monthly amounts Post-Retirement Supplemental Death Benefit

Conditions Which May Result In Loss of Some or All Benefits	Break-in-Service Noncovered Plumbing and Piping Industry Service Suspension of Benefits

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