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ABF | Pension

I retired from Central States. My last day was the end of November, I received my
first check around Dec 12th. I was already pre-approved, so as soon as the pension
fund received verification from ABF that I resigned and there were no monies due, they cut the check. With that said, I would think that all the pension funds operate independently and
have different rules and policy's.

"Chappey" makes a good point. You want to make sure you use up ALL your PTO before
June 30th. You can take all your PTO in one lump sum, but that would push your
verification out a couple weeks until the company process's payment. If you choose that route, it won't affect your retirement date of July 1st because it was monies earned prior
to your resignation date. However it could complicate things for you.

Your local told you that 1st check would be August 1st, would that check be retroactive back to July 1st (two months of benefits) or does payment get paid on a month delay?
 
The End is near said:
If I want to retire June 30th, The Union Hall tells me I wont get a Pension check until August 1st. This doesnt sound right to me...
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What doesn't sound right?
Your employer pays you for June. The pension fund pays you for July. It can't be any faster than that.
I retired with time in two different funds. I got all the money I had coming but it took three months to get my first checks.
 
Delta Dude said:
Your local told you that 1st check would be August 1st, would that check be retroactive back to July 1st (two months of benefits) or does payment get paid on a month delay?
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There is no delay. He is not due a check on July 1st. You don't get paid in advance. The August 1st check is for July.
 
ROADY said:
Retired in 2010. Last day worked Oct. 31st, used my vacation time and sick, personal days left for November, got my first pension check on December 1st, 2010. As long as you go to your pension fund in advance to get your paperwork in order the process will move quickly.
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Retired in 2010 also, last day worked June 30th, burned all my days in July, got check August, 1st., interesting thing, when i applied for s.s., they asked what was my last day worked, i said i got paid for all of July, they said what was your last day you actually worked? I said June 30th, they said ok, we go by days worked not paid, so July was used as my waiting month for s.s., even though i got "paid", so August 1st got my pension and s.s. check, worked out good
 
Delta Dude said:
I retired from Central States. My last day was the end of November, I received my
first check around Dec 12th. I was already pre-approved, so as soon as the pension
fund received verification from ABF that I resigned and there were no monies due, they cut the check. With that said, I would think that all the pension funds operate independently and
have different rules and policy's.

"Chappey" makes a good point. You want to make sure you use up ALL your PTO before
June 30th. You can take all your PTO in one lump sum, but that would push your
verification out a couple weeks until the company process's payment. If you choose that route, it won't affect your retirement date of July 1st because it was monies earned prior
to your resignation date. However it could complicate things for you.

Your local told you that 1st check would be August 1st, would that check be retroactive back to July 1st (two months of benefits) or does payment get paid on a month delay?
Click to expand...
The union claims they always pay in arrears, Dont understand that But its a direct quote
 
ROADY said:
Retired in 2010. Last day worked Oct. 31st, used my vacation time and sick, personal days left for November, got my first pension check on December 1st, 2010. As long as you go to your pension fund in advance to get your paperwork in order the process will move quickly.
Click to expand...
chappey said:
Are you using any paid time in July? vac., personal, sick, etc.? can't get a check if you have any paid days coming, at least in my local, (been retired 12 years)
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Uuion told me all they care about is what the last Day actually worked is
 
Delta Dude said:
I retired from Central States. My last day was the end of November, I received my
first check around Dec 12th. I was already pre-approved, so as soon as the pension
fund received verification from ABF that I resigned and there were no monies due, they cut the check. With that said, I would think that all the pension funds operate independently and
have different rules and policy's.

"Chappey" makes a good point. You want to make sure you use up ALL your PTO before
June 30th. You can take all your PTO in one lump sum, but that would push your
verification out a couple weeks until the company process's payment. If you choose that route, it won't affect your retirement date of July 1st because it was monies earned prior
to your resignation date. However it could complicate things for you.

Your local told you that 1st check would be August 1st, would that check be retroactive back to July 1st (two months of benefits) or does payment get paid on a month delay?
Click to expand...
always 1 month behind is what they said
 
Razorblade said:
There is no delay. He is not due a check on July 1st. You don't get paid in advance. The August 1st check is for July.
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Blade, I don't know what funds you are in, but all I can tell you is my experience with CSPF. I just checked my file, and my official quit date was Nov 26th, the check I got from CSPF was dated Dec 14th. This tells me that the check I got in December was retroactive back to Dec 1st
(my retirement date), and my benefit payment for December. Than two weeks later, the 1st of January, I received another check and every month since. So what this tells me is that I do get paid in advance. If what you say is true, then why did I receive a check in the middle of December? Less than three weeks after I resigned.
 
Delta Dude said:
Blade, I don't know what funds you are in, but all I can tell you is my experience with CSPF. I just checked my file, and my official quit date was Nov 26th, the check I got from CSPF was dated Dec 14th. This tells me that the check I got in December was retroactive back to Dec 1st
(my retirement date), and my benefit payment for December. Than two weeks later, the 1st of January, I received another check and every month since. So what this tells me is that I do get paid in advance. If what you say is true, then why did I receive a check in the middle of December? Less than three weeks after I resigned.
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And when you're dead on the 5th, how do the fund beneficiaries get their money back?
 
Razorblade said:
What doesn't sound right?
Your employer pays you for June. The pension fund pays you for July. It can't be any faster than that.
I retired with time in two different funds. I got all the money I had coming but it took three months to get my first checks.
Click to expand...
Sounds like the Union ripped you off for at least two months
 
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