I.O. Retirement

•Your IO Retirement at a Glance
This is a brief summary , a full explanation is aviable at you local union hall.


•Basic Benefit Formula
A member who retires under normal or early pension , becomes disabled, or if approved for a vested pension after December 31,2001 , shall be entitled to benefits computed on the basis of $3.50 per month for each full year of continuous A membership earned through 1997 and $4.50 per month for each full year of A membership earned in and after 1998.

•Death Benefits
Upon the death after September 10,2001 , of a nonretired A member who then has at least six months continuous and active good standing , the beneficiary to receive the death benefits shall be paid the sum of $6,250.00 if the member died of natural causes or the sum of $12,500.00 if the member died from accidental means. In addition, for retired member, the death benefit shall be computed by subtracting from $6,250.00 all pension benefits received from the pension benefit fund. The death benefit, however, shall not be less than $3,000.00.

•Funding for this Retirement Fund

This fund is soly funded by your union dues , so when you pay your union dues each month you are also paying into a your retirement fund.