Benefits

The Graphic Arts Industry Joint Pension Trust provides a lifetime monthly pension for Vested participants.

Participants who qualify for the Preferred Schedule of the Rehabilitation Plan the following benefits are provided:

Participants who separate from Covered Employment after attaining age 55:

  • For benefits accrued through June 30, 2006, full retirement benefits to participants at age 62.
  • For benefits accrued through June 30, 2006, early retirement benefits between ages 55 and 65 with a 3% reduction for each year prior to age 62 (1/4% each month).
  • For benefits accrued on and after July 1, 2006, full retirement benefits to participants at age 65.
  • For benefits accrued on and after July 1, 2006, early retirement benefits between ages 55 and 65 with a 6% reduction for each year prior to age 65 (1/2% each month)
  • Disability benefits payable at any age.
  • Benefit eligibility with five years of contributory vesting service.
  • Surviving Spouse pension benefits for the spouse of an active participant or a participant that separated from Covered Employment after age 55 commencing the month following the death of the participant.

Participants who separate from Covered Employment prior to attaining age 55:

  • For all benefits accrued, full retirement benefits to participants at age 65.
  • For all benefits accrued, deferred vested retirement benefits between ages 55 and 65 with a 6% reduction for each year prior to age 65 (1/2% each month).
  • Benefit eligibility with five years of contributory vesting service.
  • Surviving Spouse pension benefits for the spouse of participants commencing the later of (1) the month following the death of a separated participant, or (2) the first of the month following the month that the participant would have attained age 55.

Benefit calculation examples are provided in the Benefit Schedules starting on page 31 of the Summary Plan Description.  Please call the Fund Office if you need help determining which Benefit Schedule applies to your pension.

Participants who do not qualify for the Preferred Schedule of the Rehabilitation Plan

If you do not qualify for the Preferred Schedule of the Rehabilitation Plan and retire prior to age 65, our benefit will be actuarially reduced for each month that you retire prior to age 65. Please call the Fund Office for estimates.