The NYCDCC Pension Plan is meant to be an important supplement to your Social Security and other sources of retirement. The amount of your benefit is determined under Plan formulas described in your SPD.
How the Pension Trust Fund Works
- The Union and your employer negotiate contribution levels and the Trustees set benefit levels. No contributions from you are required or permitted.
- The Fund is administered by the Board of Trustees with representatives from the Union and the Contributing Employers.
- The Fund is a separate legal entity established for the purpose of providing Plan benefits. The money in the Fund is used exclusively to provide benefits and cover Plan administration expenses.
There are three types of pensions currently available under the Plan.
- Regular Pension
- Disability Pension
- Pro-Rata Pension
Qualified Domestic Relations Order (QDRO) Procedures for NYCDCC Pension Plan
*Please Note- Effective as of October 1, 2013, all participants are required to fill out two separate beneficiary forms. One form, which comes from the Fund Office, designates a beneficiary for your Pension and Welfare benefits. The second form, which comes from Prudential, designates a beneficiary for your Annuity benefits. If you have only completed one of these forms, your beneficiary designation will not carry over for both. Instead, your benefit for the form you have not completed will be paid out in the manner stated in the appropriate Summary Plan Description (“SPD”). Further, if you have failed to complete either form, all of your benefits will be paid out as stated in the SPDs. Participants should also note that beneficiaries should be changed on both forms in the event of a divorce or separation agreement. Divorce judgments and/or wills cannot always be applied to Pension, Welfare, and Annuity benefits without completed beneficiary forms. To read more about the beneficiary designation change made effective October 1, 2013, please click HERE.
Summary Of Material Modifications (SMM)
To request any forms or documents that you do not see available on the website, please call the Benefit Funds Call Center at (800) 529-FUND (3863) or (212) 366-7373.
*Disclaimer: The Funds have prepared these informal answers to frequently asked questions for the convenience of our participants and contributing employers. The Funds have made every effort to provide accurate answers, but they are not legally binding and do not address every possible situation. The Collection Policy, Trust Agreements, and Collective Bargaining Agreements are official legal documents and supersede any inconsistent statements herein.
Pension Contact Information
If you wish to learn more about your Pension Plan, or ask questions about your eligibility, please call the NYCDCCBF Member Services Call Center at (800) 529-FUND (3863) or (212) 366 7373.