"Section 415 of the federal tax code sets the limit regardless of how much is in your account.". The penalty will be loss of your benefits for six months plus the months you received a Disability Pension after your loss of entitlement. What this did was place all the burden to save for retirement on the workers while failing to guarantee lifetime income upon retirement. In addition, the monthly benefit of a pensioner may be suspended six (6) months for each calendar quarter of Non-covered Masonry Employment after retirement. What is a Social Security Disability technical denial? If you leave covered employment now, when you apply, your pension will be based on the $.40 rate. Boilermaker work takes a toll on your body. You may retire on a Disability Pension if: Disability benefits are reduced at 8% per year between ages 60 and 64 (.0067 per month). Normal Pension: $532.00 For further reciprocity questions please click here: reciprocityclearinghouse@ipfweb.org. They are independent attorneys or advocates who pay a fee to be listed on the website and have their names provided, on request, to website users. Are There 2 Types of Disability Benefits? Subscribing lawyers and advocates are not employees, owners, operators or agents of this website. Normal Pension In some form, that tax bill will pass and be signed by the president. If you have not worked in Covered Employment after January 1, 1999, you must have earned 10 years of Pension Credit or Vesting Service rather than the 5 year requirements listed above. His benefit will be less if he chooses the Husband-and-Wife pension. Charles W. Jones, International President Emeritus. hV[OJ+ 2 The IPF will also transfer monies to Local Pension Funds for jurisdictions, which do not participate in IPF. endstream endobj 145 0 obj <>stream From 2014 to the present, Sam earned less than 450 hours in each of 2014, 2015 and 2016. "But that's my money," you say. If, however, you were in your forties or fifties, retraining or education would not be as likely and your Social Security Disability claim would be more likely to be approved. PDF, The International Brotherhood of Boilermakers, Iron Ship Builders, Blacksmiths, Forgers and Helpers, AFL-CIO/CLCCopyright 2019, L-374 puts Boilermakers in the spotlight as SkillsUSA host, L-11 member advocates for labor in Montana Statehouse, L-13 member takes Boilermaker pride to new heights, Boilermakers National Health and Welfare Funds benefit helps apprentice find sobriety. If you work less than 1500 hours in covered employment, partial credit is earned according to the following schedule: Covered Employment Hours for which contributions were received during calendar year Years of Future Service Credit, 150-299 - 0.1After December 31, 1986, the following future service schedule applies to hours worked: Hours Credits. Toms early retirement pension is calculated as follows: In this example, Toms early retirement pension would be $333.00 a month because pensions between whole dollar amounts are rounded to the next higher dollar. Actuarial values of benefits are determined using: Under our Plan, the normal forms of payment are the: In general, optional forms of payment available under our Plan have approximately the same actuarial present value as the normal form. Oct 2022 to Dec 2022 4 Common Questions To Prepare for at your ALJ Hearing, Autoimmune Conditions and Social Security Disability. Pensions, on the other hand, provide you with a source of stable and predictable income that will last through retirement. You may want to work, but your disability prevents you from doing so. You have earned at least 3/10 of a Year of Future Service Credit (450 hours) after attaining age 50, unless your failure to meet this requirement is due to disability. People who usually oppose us, like John Boehner, Cass Ballenger, and even Dick Armey, are with us, alongside many of our long-term friends, such as Jim Traficant, Marcy Kaptur, and David Bonior. As we said earlier, basically, this means that the optional forms of payment provided by the Plan have relatively the same value as the normal form of payment under our Plan. At retirement, an employee can use the money accumulated in the account through savings and investments until the money is gone. If you worked in Covered Employment after January 1, 1999, you are eligible to retire on an Early Retirement Pension if you are at least 55, not yet eligible for a Normal Pension and: If you did not work in Covered Employment after January 1, 1999, you must have earned 10 years of Pension Credit or vesting service rather than the 5 year requirements noted above and also meet the requirement in number three above. Early Retirement Pension (or $501.00): $500.08 If you do not want a Husband-and-Wife pension, you and your spouse must formally reject it and receive a lifetime pension. The International Brotherhood of Boilermakers, Iron Ship Builders, Blacksmiths, Forgers and Helpers, AFL-CIO/CLCCopyright 2019. Man Hours: In 2016 Pension Hours were the lowest they have been since 1985. 1. You've been working for more than 40 years, and you deserve to relax for a change and live off the savings your hard work made possible. We want to help you build a solid financial future. This is important in the determination of actuarial value because investment earnings provide some of the money used to pay benefits. The lost value totaled $7.2 trillion, or about half of that year's U.S. gross domestic product. A domestic relations order (DRO) is a court order which specifies how marital assets and child support responsibilities are to be divided among the divorcing parties. It was oversold.. What are Qualified Domestic Relations Orders? If you are an employee of a related organization, not covered under a Collective Bargaining Agreement and work after January 1, 1989, you will be entitled to retire on an Early Retirement Pension if you meet the following requirements: For early retirement pensions with a start date after June 1, 2016, the following early reduction factors will apply regardless of which schedule was elected under the Funding Improvement Plan. They won't let you take out as much as you want to take out each month. endstream endobj 19 0 obj <>stream At the end of 2016, one active Boilermaker was paying into the fund for every 2.4 retirees receiving benefits. In a defined benefit pension plan, employers (and in some cases employees) contribute to an employees retirement. Example #4: (Same facts as in Example #2), except Tom submits his application on May 16th but continues to work for his employer until he retires on November 1, 2016. %%EOF Some boilermakers will try to find work in fields that are less taxing. We have a lot of support on this bill, from both Republicans and Democrats. If an employee dies after January 1, 1988 and has at least one year (1500 hours) of future service credit, and has not incurred a break in service or engaged in Non-covered Masonry employment, then a Death benefit equal to 100% of the employer contributions made on his behalf shall be paid to his designated beneficiary (please note that effective June 1, 2016 all IPF lump sum benefits are limited to $5,000.00). The date they could become eligible for vested or early retirement benefits is automatically postponed six months for each calendar quarter they engage in non-covered employment. It provides that the benefit is for the pensioner's lifetime, his or her designated beneficiary will continue to receive monthly payments until a total of 60 monthly payments have been made, counting both payments to the pensioner and to the beneficiary. If you lose your Disability Benefit after you reach 64, payments will continue even if you recover, but subject to the rules governing work after retirement. Boilermakers National Funds Documents & Forms Annuity Documents & Forms Employers Documents & Forms Health & Welfare Documents & Forms Pension Documents & Forms BNF - Authorization Form to Release Personal Information (Jan 2023) BNF - Change of Personal Information Form (Jan 2023) BNF - EBSA Online Security Tips Many people assume that boilermakers perform the same job as welders, since they work with sheet metal and perform welding duties. The page you are currently on contains links to information on benefits specifically for Boilermakers and their families. By submitting a request for a free evaluation, I acknowledge that I understand and agree to the disclaimer and privacy policy. If you are not sure whether a particular type of employment is prohibited, you may request a ruling from the Trustees. Pension Credit is accumulated in two ways: The Contribution Period is the time during which employers contribute to the IPF on your behalf. Corporate officers who are employees of the corporation may also participate subject to the approval of the Trustees. For more . 138 0 obj <>/Metadata 160 0 R/Pages 135 0 R/StructTreeRoot 203 0 R/Type/Catalog>> endobj 140 0 obj <>/MediaBox[0 0 612 792]/Parent 135 0 R/Resources<>/Font<>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI]/XObject<>>>/Rotate 0/StructParents 0/Tabs/S/Type/Page>> endobj 141 0 obj <>stream Boilermaker-Blacksmith National Pension Trust et al, No. You have not worked in Non-covered Masonry Employment. endstream endobj During the Contribution Period, you earn Future Service Credits based on your work in Covered Employment in a job classification covered under an agreement requiring contributions to the IPF on your behalf. The Disability Pension will continue for life, provided you remain totally and permanently disabled until age 64. You attain Normal Retirement Age without incurring a Permanent Break in Service; and, You have at least 1,500 hours of Future Service; and. If you are a retired Boilermaker and have reached Normal Retirement Age (generally age 65) but are younger than age 70 and work 40 hours or less in one month, that amount applies towards the 999.50 hour limit of the SRWR. HJ1E)f$b!haX vX)/.K7sr w])3nB8q; B;LXIP:,R:L1YJ):F(tp@LNbRJ[Q/jw>>Q)Bh + m4$!dihVu 1x!z@"C$!$o0 `!B)PR,cb6TV4P?D*6VcVGk,R2U-VF*_+G $ 023 . Section 415 may also affect you if you retire early. Your Home Local is the participating Local in which you earned the greatest number of hours of future service credit. When 401(k) retirement savings plans came into practice in 1981, they were lauded as a great benefit for workers. Example #1: Peter retires on June 15, 2016, and submits his application on September 4, 2016. If you lose entitlement to your Social Security Disability Benefit, you must report it to the Board of Trustees within 15 days of the date you receive notice from the Social Security Administration. hb```lD@(a"2-~$lyCPW^A oqR1q(+t<9/dx?6KPR~cGGG"XA3e x2bi1 0j}p F0k`SX.|`qCPO3p:nV`7 1 R.@ :X When filing a Social Security Disability claim as a disabled boilermaker, you may want to retain the services of a Social Security Disability advocate or attorney. Section 415 is unfair to workers. Retired shipbuilder's topiary talent delights for decades. If you have spent your life working as a boilermaker and are suddenly faced with a disability that prevents you from performing your job duties, it can be a frustrating and emotional experience. Minor welding jobs or administrative positions are sometimes possible and career changes are not uncommon if the individual's disability does not interfere with the ability to obtain retraining or education. But if you have accumulated a lot of money in your pension fund or if you plan to retire early, it may affect you. How do I figure the amount of the Inactive Vested Pension? Eligible Members are entitled to the following Life Insurance Benefit, which is payable to your beneficiary upon your death. But if you do have a pension, and your company wants you to vote to end pension contributions in favor of a 401(k), beware: Its not in your best interest. You may want to consult a financial advisor when you are nearing retirement to determine what is right for you. Union or non-union work is based on the company for which the boilermaker works for. His benefit is based on a contribution rate of $.90 per hour. Participation is not available to anyone engaged as a self-employed person, partner or sole proprietor. How does the pay scale for a Disability lawyer work? If you are covered by a Collective Bargaining Agreement, you are eligible to retire on a Normal Pension at the later of age 64 or the fifth anniversary of your participation and if: If you did not work after January 1, 1999, you must have earned 10 years of Pension Credit or Vesting Service rather than the 5 year requirements listed above. m;JPYlOL5) %fgmP(m!IU[BaJ-p~T^>(uj r&h;E]?qtZo#Z]Tplwpl?PA=^kfXQ5w-F>#>@ ')H=VC]i=z>P1fD!?2B|FE)XUGJ]cI8(bH8zp4 S4v%5(9+ +cHdpXYx"$4$P0EC9dB_$@) ckB_ You should be aware that if you or your surviving spouse take the benefit in a lump sum the benefit will be subject to an automatic 20% Federal tax withholding unless it is directly rolled over into an IRA or other qualified retirement plan. 626 0 obj <> endobj They will also look at your job history, education and age. In the Senate, Frank H. Murkowski (R-AK) sponsored a similar bill. Neither this site, nor any lawyer or advocate associated with it, is affiliated in any way with, or endorsed by, the Social Security Administration. A 401(k) plan allows employees to contribute a percentage of their pretax income to retirement savings. Hi,I'm a union boilermaker, age 54 ,last year my pension fund, changed our retirement, in order to do so ,the trustees took the pension from yellow to red ,changed the early retirement from 55 to 62 thus shutting me out of the early retirement, to that point I had already been capped out by sec.415 irs rule ,also having more than the requirements for hours worked, so the only thing stopping me . Its a Taft-Hartley multiemployer plan governed by an equal representation of labor and management trustees. Does the applicant plan to stop working soon and stay out of work for at least 12 months? The benefits of being a union member are huge. How is total and permanent disability defined? The Boilermakers National Annuity Trust is a defined contribution plan administered by the Board of Trustees and offered as a benefit to you. Based on living an average lifetime and the current earning rate for your savings account, you can withdraw enough each month to live comfortably the rest of your life. HWmo6 I`fQPtXnEb}py@(:EQG"xw=.,H&f:K\r/pa~pV[A%.+\m[n8v?l:YTIdyXnZ9^ug-`=G[uVo ~'GFPo_D~eEA`_ &j%[Gcm['jx)*# i*Y&1lUS*ShGZ`2DLB54,P/!cmb=fATyeS(.a[F07b/!EDTfXcd"f Zb=>,k\hXLie4%RL&4u.iv(Esxf*S@ZQ*f #jTC qh= hCEah'R}Nd4ts /m[ -[=yF2)YEBDQ=,C.Ce_q2l?[V$ e iJ_ZmTe]7ULDBNzmten ^vAtdB\PKRl:&t:;1z@% /\LI!m:QNHEVQ]>~c{;6P6m!O bfi$UWRul?$D(&wlubdg]N. At Age 62 3. If an injury or illness occurs that results in a long-term or permanent disability, these professionals will be unable to continue work in their profession. 2:2019cv02402 - Document 246 (D. Kan. 2022) case opinion from the District of Kansas US Federal District Court . "I worked hard for it, and any actuary in the country will tell you that what I want per month is a reasonable amount, based on how much I have in the bank. Future Service Credit is accumulated through Covered Employment with a signatory contributing employer during the Contribution Period, and. If you would like to join them, they meet the . When Congress passed the Revenue Act of 1978, it included Section 401(k) which allowed employees a vehicle to defer compensation from bonuses and stock options until retirement. PDF, The International Brotherhood of Boilermakers, Iron Ship Builders, Blacksmiths, Forgers and Helpers, AFL-CIO/CLCCopyright 2019, L-374 puts Boilermakers in the spotlight as SkillsUSA host, L-11 member advocates for labor in Montana Statehouse, L-13 member takes Boilermaker pride to new heights, Boilermakers National Health and Welfare Funds benefit helps apprentice find sobriety. These individual must learn the skills of their craft including how to manipulate the metals they work with, how to properly weld the items and how to ensure that all safety measures are met so that quality boilers and tanks are produced. At least [number] years of experience is preferred. 1$W, 4BP%7X1lP-3]z/_ ~Z' You have at least 10 years of Pension Credit including at least 1,500 hours of Future Service or have at least five Years of Vesting Service. These methodologies are fairly technical and can be difficult to understand. "We are thrilled to announce and congratulate the graduating apprentice class of 2023 from Boilermakers Local 363!". Instead, moving from a pension to a 401(k) is a way for the company to save money by reducing its risk and lowering their contribution dollars. After age 62, a pensioner, may return to covered employment and continue to receive retirement benefits until their earnings exceed the social security earnings limitations for pensioners age 62 and older. All it does is reduce your retirement income. As a result, the Fund will accept pension monies that you earn under other pension funds maintained by local unions of the Bricklayers and Allied Craftworkers that have also signed the International Reciprocal Agreement which do not participate in the International Pension Fund (IPF). Online| The pension is now in the green zone, several years ahead of the estimated schedule. The Pension Plan is a Taft-Hartley multiemployer plan governed by equal representation of labor and management trustees. But Section 415 reduces pension benefits for many people who retire before the Social Security retirement age. Participation is available to employees working in covered employment, which is employment in a job classification covered by a local collective bargaining agreement, which requires contribution to the IPF. It doesn't protect pension funds. Work as a boilermaker requires a professional to be in good health and top physical condition. You have attained Normal Retirement Age as defined in the Plan while still employed. As soon as the president and Congress can agree on the details, that bill will become law. Once the Social Security Award is received he may convert to a Disability pension if the date his disability commenced preceded the effective date of his Early Retirement pension. Choose the links at left for additional information. The Boilermakers National Funds includes: The International Brotherhood of Boilermakers, Iron Ship Builders, Blacksmiths, Forgers and Helpers, AFL-CIO/CLCCopyright 2019, The Boilermakers National Health & Welfare Trust, The Boilermaker-Blacksmith National Pension Trust, Boilermakers' National Pension Plans (Canada). You'll have to live on a smaller amount. Basic Pensioner Benefit: $15,000. The three national trusts include: Boilermaker-Blacksmith National Pension Trust, the Boilermakers National Health and Welfare Fund, and the Boilermakers National Annuity Trust. The amount of the Early Retirement Pension benefit will be subject to the same reductions for active participants, as described above. You are required to report in writing within 15 days to the Fund office about any such employment you undertake. Pretty soon you've got a nice little nest egg, but you keep working hard and saving money because you want to retire earlier than most people do. They apply regardless of how much money has been paid into the Boilermaker-Blacksmith pension on your behalf. Mortality assumptions, which are based on standardized tables developed by actuarial organizations and life insurance companies. It is called a "Deferred" Vested Pension because the actual pension payments will not begin, at the earliest, until you reach age 55. But in the 40 years since the 401(k) became synonymous with retirement, its become clear the benefit was for employersnot so much their employees. The Plan rules also require that retroactive pension payments not be made for more than 12 months prior to the date the disability application is received by the Fund office. The Fund will pay benefits awarded only pursuant to a qualified domestic relations order, a "QDRO," directly to the former spouse, child, or other individual specified in the decree. Joint-and-SurvivorPension for married participants. Last year, the plan paid out $851 million while contributions totaled just $428 million. The reduction factors, based on actuarial equivalence and using the Funds funding assumptions, will be as follows: % of Normal Retirement Age Pension Payable as Disability. In addition, the Plan provides for a lump sum Death benefits. 89jsfIQX/pdi&9xCh*G89YujeNV*BDnU]:0Z87bzl>[e[`K%2Jr Before age 62 you may not be engaged or employed, without limit to the geographical area covered, in any of the following: Pensioners under age 62 must have their benefits suspended for any months they engage in such employment. Please click here to get started. In providing the name of a subscriber attorney or advocate, the website does not evaluate a users matter, and it does not endorse or vouch for a lawyer or advocates credentials, abilities, competence, character, or other professional qualities. Effective June 1, 1988, if you work in Noncovered Masonry Employment, your effective date for an Early Retirement Pension will be delayed six months for each calendar quarter that such work was performed. Oct 2022 to Dec 2022 In a 401(k) plan, all fees such as investment fees, plan administration fees and individual service or transaction fees are all paid by the worker. These individuals can work in a wide range of industries including power plants, paper mills, cement plants, water treatment facilities and breweries, just to name a few. These limits apply regardless of how much money the plan says you should get. An InactiveVested Participant may become entitled to an Early Retirement Benefit at any time if they return to active service with a contributing employer and earn at least three years (4,500 hours) of Future Service Credits. Example: Peter is 59 and retires with 25 pension credits. If you retire on or after turning 55 years of age, you are eligible to continue your coverage under the Plan until you . If Sam wants to receive an early retirement pension from the IPF, he would need to return to covered employment and earn 3 years of Future Service Credits. These labor-management trusts offer participating members the opportunity for a more secure retirement as well quality health care for themselves and their families. If you apply for a Disability Pension, you are also required to provide a medical statement from a physician which indicates the nature of your disability and states that you are totally and permanently disabled from the trade. That is only fair. hbbd``b`v@$Xd R b-J@Z " v q(#/ 0 Map, International Brotherhood of Boilermakers. Clear; Statistics 11/28/22 . Effective August 1, 1999, if a surviving spouse dies at a time when the participants natural or legally adopted dependent children are under age 2l, benefits which were being paid to the spouse will continue to be paid to the children until age 21. IBEW Local 104 has partnered with John Hancock for Retirement plan services. An additional .1 of a credit accrues for each 150 hours over 2,250 without limit. How do I figure the amount of the Normal Pension? The QDRO does not mandate how you and your former spouse should divide your pension benefits and you are not obligated to use the model QDRO; those decisions are between you and your legal counsel. The Joint-and-Survivor pension provides a lifetime benefit for your spouse as well as for yourself. Since 2013, under the direction of the trustees, the BNF team has saved $1,003,166,043 for our Boilermakers family by performing audits, monitoring our business partners and negotiating business partner contracts, Fultz said. Sign for L-242 highlights retiree skills. At 60, you decide to retire. In order for the spouse of a non-retired employee to be entitled to a Husband-and-Wife pension, the couple must have been married throughout the one-year period preceding the employee's death. The Normal Pension is a monthly pension based on your employers contribution rate. They want to see if you can perform any type of substantial gainful activity at all. Then in 1981, through an IRS rule, employees were allowed to contribute to their 401(k) by simple salary deductions, which opened the door to companies across the United States ending pensions and installing the 401(k) system for retirement savings. Also, there are many different zones for which boilermakers can be a part of based on the type of training they have completed. We need to make phone calls and write letters. Our fund doesn't need protecting; it is in excellent shape. Ke]{45o;em/.u.$vGoEa/D7ZQO"# NO Which contribution rate do I use in calculating my Inactive Vested Pension? Full Retirement and Age 62 Benefit By Year Of Birth. Today, the Brotherhood participates in three Taft-Hartley trusts that provide pensions, health insurance, and an annuity for those locals who participate. Generally, only monthly pension benefits with an actuarial equivalent of less than $5,000.00 can be paid in lump sum. Needs a boiler operator or stationary engineer license if it is required by the state. Non-covered Masonry Employment would also cancel any past service pension credits. 'fbG"E*TbiYhh\[xT%UjTdd}>2ST kEgH1. %%EOF Early Retirement benefits for months before the Social Security Disability date are subject to reimbursement. The Boilermaker-Blacksmith National Pension Trust is a defined benefit retirement plan established in 1960 designed to assure a stable source of income at retirement as it promises eligible participants a lifetime benefit in a specific monthly amount at retirement based on hours and contributions worked and reported to the Fund. A typical American worker starting their 401(k) at age 25 can expect to pay over $130,000 in fees over a lifetime. The Bricklayers and Trowel Trades International Pension Fund has signed the International Reciprocal Agreement for Bricklayers and Allied Craftworkers Defined Contribution and Defined Benefit Pension Funds. It is the normal pension amount, reduced by 1/2 of 1% for each full month that you are younger than 60 when the early retirement pension begins. Kansas, and administered by our Board of Trustees, the Boilermakers National Annuity Trust was added as a benefit in 1985. k*"9#|5pp.rVHUT3JnV%x AXbP"uCpq "& QW^d&#I&$""3(F6sl3\s#IXdv/6 2cu+NzTeUX>YS,67Ry{#n_WCC@0Ub+^KO\CvC> VSK"+.Itf}w`g7Kp\kr(je=7AR'48QPZl%?-lc U&e9E(LU/[K,%=`@j2Gz>R5Ri=8Ptz_y67VOLA 6VtgH{HSBocwwAPnjd}T{7W}zvVV3{ 58 Earlier this year, with strong urging from the Boilermakers and other Building and Construction Trades unions, U.S. Representative Robert Portman (R-OH) sponsored a bill to revise Section 415. JG0VGKlUxmCdU1t6P^uk"R6!!Y]eCt2plAeC.BG: \D- xf These skilled professionals have completed their rigorous training and [] If you worked in Covered Employment after January 1, 1999, you may retire on a Disability Pension if: Between the ages of 60 and 64, the disability benefit will be subject to an actuarial reduction factor of 8%. If a disabled boilermaker's condition prevents them from transferring to another line of work, however, the financial burdens can become quickly overwhelming. Months between age 62 and full retirement age 2. If, however, you were in your twenties it would not be unreasonable to expect you to obtain retraining or education that would allow you to work in an administrative position that your disability would not interfere with. Education: The applicant must have a high school diploma or GED. (ii) 12 (months younger than 60) x 1/2% = 6% . Those born between 1943 and 1954 have a full retirement age of 66. You have earned at least 3/10 of a year (450 hours) of future service credit after attaining age 50, unless your failure to meet this requirement is due to disability. He will look like Grandpa Munster to me forever now, since I . endstream endobj 142 0 obj <>stream Injuries are not uncommon among boilermakers. $675 divided by 1500 hours = $.45 weighted average Contribution Rate. The retirement age gradually increases by a few . Example #2: Tom retires on September 1, 2016. If you do not meet the above requirements and worked after January 1, 1988, you are eligible to retire on a Normal Pension if: If you are an employee of a related organization, not covered under a Collective Bargaining Agreement and work after January 1, 1989, you will be entitled to retire on a Normal Pension if you meet the following requirements: If you work in the same industry, trade or craft as is covered by the IPF, your monthly pension will be suspended for the month or months you worked in such employment. IVP-NE John Fultz, Secretary for the Boilermaker-Blacksmith National Pension Trust and also Secretary for the Boilermakers National Health and Welfare Fund, said it takes a lot of hard work from the trustees and the Boilermakers National Funds (BNF) team to oversee our Boilermaker Pension, Health & Welfare and Annuity Funds. The full retirement age further increases in two-month increments each year to 66 and 10 months for those born in 1959, up. For those without access to a pension, a 401(k) is a good vehicle to save for retirement. Neither bill has passed, but both the Senate and House have incorporated the language from these bills into their tax bills. x=NpP*jR Effective August 1, 1999, if a pensioner or beneficiary dies at a time when the participants natural or legally adopted dependent children are under age 2l, benefits which were being paid to the pensioner or beneficiary will continue to be paid the children until age 2l.

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