Preparing for Retirement

To become eligible for the Retiree Plan, you must meet many requirements, such as being at least age 52, receiving certain pension benefits, and meeting certain eligibility requirements for Active coverage.

Learn more about eligibility requirements here. See your eligibility status at the My Benefits Portal.

If you believe you are eligible to retire, fill out and send the Request for Retiree Eligibility Form to the Fund Office. The Fund Office will let you know if you meet the eligibility requirements.

Learn more about eligibility requirements for the Retiree Plan.

At retirement, you have different options of coverage depending on your Medicare eligibility.

If you are not eligible for Medicare, you can enroll in:

• The Iron Workers’ Tri-State Welfare Fund Retiree Plan of Benefits; or
• COBRA Continuation Coverage, which lets you continue to pay for the Fund coverage you have now for up to 18 months (or until you reach age 65, when you must enroll in a Medicare plan). Once your COBRA period ends, and if you are still not eligible for Medicare, you can enroll in the Retiree Plan of Benefits.

If you are eligible for Medicare, you can enroll in:

• The Medicare Advantage plan sponsored through the Fund; or
• Any other Medicare plan that includes Medicare Parts A, B, and D.

Learn more about preparing for retirement here.

The Retiree Allowance program rewards long service with a subsidy toward your premiums. If you have at least 30 years of service, you may be eligible for free retiree coverage.

Learn more about the Retiree Pre-Funded Allowance program here.

You are eligible for the Retiree Allowance program if you meet the eligibility requirements for the Retiree Plan and:

• You are at least age 62 and have at least 40 Quarters of Service;
• You are at least age 52 and have at least 60 Quarters of Service; or,
• You are totally and permanently disabled and have at least 60 Quarters of Service.

Additional eligibility requirements may apply. Learn more about the program here.

You have three options from which to choose under the Retiree Pre-Funded Allowance program.

• Option 1 gives you a quarterly subsidy until you reach age 65 and offers coverage if you are not eligible for Medicare or if you are not Medicare-eligible but disabled and have family coverage with a Medicare-eligible spouse.
• Option 2 gives you a quarterly subsidy starting at age 65 and offers coverage if you are Medicare-eligible or if you are not Medicare-eligible but disabled and have family coverage with a Medicare-eligible spouse.
• Option 3 gives you a quarterly subsidy before and after you turn age 65 and offers coverage regardless of Medicare eligibility.

Please note that the amount of the quarterly subsidy changes depending on which option you choose.

Learn more about the Retiree Pre-Funded Allowance program here.