Benefit Funds Temporarily Reduce Required Hours for Age & Service Pension
November 22, 2021 9:37 AM
Earlier this week, the Pension Fund of the Union and Hotel Association of New York City, Inc. sent a notice to members notifying them of a temporary change to the hours of service eligibility requirements of the Age & Service Pension Plan. In order to qualify to receive the Age & Service Pension, a member typically must meet three requirements:
- Be at least 55 years old,
- Have at least 25 pension credits, and
- Have worked at least 1,000 hours in the previous calendar year.
Due to the COVID-19 crisis, many of our members were not able to work 1,000 hours in 2020 or 2021. To help 2021 and 2022 retirees, the Pension Fund Trustees temporarily changed the third requirement: decreasing the required amount of hours worked the previous year from 1,000 to 325. (This change is only for calendar years 2021 and 2022, the Plan’s regular rules apply for Age & Service Pensions effective after 12/31/2022).
Please note that this does not change the amount of hours needed to earn a pension credit, members still need to work at least 1,000 hours to earn a full pension credit for the year.
If you are looking to retire in 2021 or 2022 with the Age & Service Pension Plan or have any additional questions about the change to the requirements, please contact the Pension Fund at (212) 586-6400, ext. 4221.
