News and Announcements

Pension Statement Redesigned

DEC. 21, 2009 - Pension Plan participants will soon receive a new and improved Annual Pension Statement in the mail. This year, the Boilermaker-Blacksmith National Pension Trust took on the project of redesigning and updating the Annual Pension Statement to improve participant understanding and include more useful information.

Past Annual Statements have only included the total hours, total contributions to date, and a summary of that year's contributions. The redesigned Pension Statement is done in a personalized booklet format that includes the following:

Cover Letter - Your cover letter will explain the purpose of each section in your Pension Statement. Not all participants receive the same sections. Only the sections you receive will be explained in the cover letter.

PEN - 2009 Statement Cover Letter IMAGE

Accrued Benefit Statement - You will either receive a Vested or Non-Vested version of this information. If you are vested, this provides an estimate of what your monthly pension benefit would be if you were to retire at age 65 based on your current record. If you are not vested, the Accrued Benefit Statement provides an estimate of what your monthly pension benefit would be based on your current record as if you were vested at this time.

PEN - Vested Accrued Benefits Statement Image 

Total Hours and Contributions Summary - This summary contains all pension hours and accrued contributions for each Plan Credit Year you have worked in Covered Employment. This report also takes into consideration forfeited hours and contributions due to Breaks in Covered Employment, as well as the breakdown of your accrued contributions according to the relevant benefit multipliers.

PEN - Total Hours and Contributions Summary Image 

2009 Hours and Contributions Detail Statement - If you worked in Covered Employment during the 2009 Plan Credit Year (October 1, 2008 - September 30, 2009) a detailed list of the hours and contributions made by each employer on your behalf for the 2009 Plan Credit Year is included. Additionally, this year we included a Wallet Cut-Out Card for you to carry with you to verify hours when applying for work.

PEN - 2009 Hours and Contributions Detail Statement Image PEN - Statement Wallet Card Image 

What do I do with this information?

We want to make sure you get the correct benefits you deserve. We encourage you to take some time to review your 2009 Pension Statement and compare it to your records to ensure accuracy.

If you find a correction needs to be made or if you have a question about your 2009 Pension Statement, please call Customer Care at 866-342-6555, 7 a.m. to 5 p.m. CST, Monday through Friday.