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A message from the General President Christensen: |
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We're proud to announce that on May 12, 2022, the Trustees of the National Elevator Industry Pension Plan voted on and approved benefit increases for active Members and Retirees. The details of these benefit increases are outlined below.
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Applicable Benefit Rate for each year of service (1,700 hours) will increase from $110.00 to $112.00. This rate will generally apply to all hours you worked through June 30, 2015.
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The Periodic Benefit Rate that will apply to the hours you work on and after July 1, 2022 will increase from $125.00 to $130.00.
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Effective July 1, 2022, active Members who will retire on an Early Retirement Pension and current Early Retirees (including Early Retirees who are not yet age 58) who have not yet aged out of the TSPB as of July 2022, will continue to receive their TSPB up to age 65.
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Effective July 1, 2022, Normal, Early and Disability retirees who retired on July 1, 2019 or earlier will receive a 1 % benefit increase. This retiree increase also applies to the monthly benefits of surviving spouses of deceased Normal, Early and Disability retirees.
