Central Pension Fund
A participant earns credit service when contributing employers report hours and contributions to the Fund on their behalf. A participant's benefit is determined by the total contributions made on their behalf.
Benefit Formula:
The monthly benefit is 3.0% of the total contributions made on the participant's behalf.
Example:
5 years x 1,500 hrs./year = 7,500 hours x
$6.20 = 46,500 x 3.0% = 1,395.00/mo.
Your Central Pension Fund At-A-Glance:
- Governed by a Board of Trustees comprised of employee and participating employer representatives
- Currently serving 52,000 Retirees nationwide
- 109,000 current vested and active participants
- 80 participating IUOE Locals