I.B.E.W LOCAL 701 BENEFIT FUNDS
ALWAYS AT YOUR SERVICE

28600 Bella Vista Parkway, Suite 1110
Warrenville, IL 60555-1500
Phone (630) 393-1701   Fax (630) 393-3615
info@ibew701fbo.com


 

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Pension Fund

Early Retirement

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You are eligible to retire with an Early Retirement pension if you:

  • Are at least age 55;
  • Earned at least 10 Pension Credits, including at least one Pension Credit earned after June 1, 1971; and
  • Worked at least 500 hours in Covered Employment in a calendar year since reaching age 53.

The pension amount is calculated as though it was a Regular Pension, but then the amount is reduced based on the number of years and months you are younger than 60. The complete table of factors can be found in your Summary Plan Description.