The GRIWA Pension Benefit
The union has negotiated with employers covered by the Greater Regional Industry Wide Agreement (or “GRIWA”) to contribute to a pension plan. When our union started representing workers in the regions outside of New York City over a decade ago, we made it a priority for hotel and gaming workers to be able to retire with dignity and financial security. The first step was to create an entirely new pension fund (something that is virtually unheard of in this day and age). The second step was to negotiate an increase in the employer contributions to the fund through bargaining so that ultimately, we could increase the pension benefit. We were proud to increase pension benefits under the GRIWA by 30% in 2023.
Earning pension credits
Pension credits are awarded based on a member’s hours worked in covered employment, up to a maximum of 1 pension credit per calendar year. Generally, members who work at least 1,000 hours earn 1 pension credit. Members can earn partial credits under the plan. If a member works between 500 and 749 hours, they can earn ½ pension credit and if a member works between 750 and 999 hours, they can earn ¾ pension credit.
Becoming vested
Members earn a permanent right to a pension benefit once they are “vested” in the pension plan. To become vested, a member must have earned 5 pension credits.
Pension benefit
For GRIWA pension participants who are working on or after April 1, 2023, the benefit is $30 per credit for credits 1 to 25 and $15 per credit for credits 26 to 40 (the maximum number of credits is 40). This means the maximum pension benefit for a GRIWA member who retires with 25 credits increased from $575 to $750 per month.
For the purposes of the following calculations, we use the regular pension, for a single-life, collected at age 65. The value of a member’s pension benefit will vary based on the number of pension credits they have earned over their career, what age they retire, if they are married, and which joint survivor benefit they elect.
Members can request a personalized estimate from the Pension Fund up to five years before retirement by completing a “pension estimate request” form. Members can visit the Benefit Funds’ Central Office located at 305 West 44th Street, New York, NY (2nd floor), email [email protected] or call 212-586-6400 ext. 4125 to request and application or estimate.
Early retirement
This plan includes early retirement options, including an early retirement pension starting at age 62.
Plan your retirement
Members should file a pension application with the Pension Fund as soon as they decide on their retirement date, but at least two months before retirement. The pension benefit is not paid automatically! Members must notify the Pension Fund of their intention to retire.
To apply for your pension benefit, visit the Benefit Funds’ Central Office located at 305 West 44th Street, New York, NY (2nd floor). You can also email the Pension Fund at [email protected] or call 212-586-6400 ext. 4125.
Contact the Pension Fund
To find out more about the GRIWA Pension benefit, visit the Benefit Funds’ Central Office located at 305 West 44th Street, New York, NY (2nd floor) or contact them by phone at (212) 586-6400, extension 4125.
This page contains a short description of the pension benefit provided under the Greater Regional Industry Wide Agreement. For the complete plan details, please refer to the official Summary Plan Description (SPD). The union is not authorized to make representations about the pension benefits. If any explanation contained in this online summary contradicts a shop’s collective bargaining agreement or any provisions of the actual benefit plan documents, those documents are controlling.