We Appreciate the Years of Service You’ve Given to the Hotel Industry
And we’d like to see you receive the pension your years have earned …
If you’ve completed five or more years in Covered Employment, you may be entitled to a Pension, payable when you reach retirement age.
Your Pension Plan
Understanding your Pension Plan will help secure benefits when you retire. See the Pension Quick Guide for a brief overview of your plan.
The Pension Fund provides a monthly pension benefit to over 10,000 hotel retirees. The maximum pension benefit is currently $1,000.00 per month for members retiring at age 65 with 25 years of service.
Members who are 65 and retiring with more than 25 years of service are now eligible to receive an additional $20.00 per month for each year of service above 25 years as a supplement to their regular pension. The maximum supplemental credit is $300 per month, which would be the additional amount awarded to a retiree with 40 or more years of service at age 65.
Early Retirement Pension
If a member chooses to retire early, between the ages of 62 and 65, the base pension amount plus any supplemental credits are reduced 5/9th of 1% for every month prior to the member’s 65th birthday.
Age & Service Pension
Members are also eligible for the special Age & Service pension, which is for those who have completed 25 years of service and are at least 55 years of age when they stop working in covered employment. The Age & Service pension is currently $875.00 per month.
In total, the Pension Fund distributes approximately 3.6 million dollars per month to all retirees.