Pension Plan Changes - Pension

Effective September 16, 2013, the Board of Trustees have determined to amend the Pension Plan pursuant to Section 8.1 to define the term "Spouse".

Please be advised that the following changes have been approved by the Board of Trustees at their June 10, 2009 meeting for the Pension Plan of the Iron Workers District Council of Northern New Jersey and are effective January 1, 2010:

The Board of Trustees, has amended the Pension Plan of the Iron Workers District Council of Northern New Jersey to provide an increase in the pension accrual rates which are summarized below.

An updated Summary Plan Description (SPD) was mail to all participants of the District Council Ironworkers of Northern New Jersey Benefit Plans. 

The plan has been amended to provide an optional form of pre-retirement death benefit to a surviving spouse.  A surviving spouse may reject the pre-retirement surviving spouse pension and elect instead to receive the 120 monthly payments.