About the Pension Plan

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The Pension Plan was initially established for Employees covered by a Collective Bargaining Agreement between Employers affiliated with the Mobile Chapter of the Associated General Contractors of America, Inc., and Unions affiliated with the Mobile, Alabama – Pensacola, Florida Building and Construction Trades Council. The current employer association is the Gulf Coast Contractors Association. The Pension Plan as restated July 1, 2017 is a continuation of the Plan established July 1, 1965. 

The A.F. of L. - A.G.C. Building Trades Pension Plan is a “defined benefit pension plan.” Under this type of plan, benefits are provided from a general pension fund. The Plan is paid for by Employers who make Contributions on behalf of their Employees, based on a negotiated Contribution rate for each hour worked. Qualification for benefits and the amount of those benefits is calculated based on a formula that takes into consideration your years of employment, contribution rates, hours worked, your age at retirement, and the type of retirement option you select. Benefits are also provided for disability and death.

Contributions made to the Plan on your behalf are tax exempt. Your benefits will not be taxed until you retire and begin receiving your pension. No amendment may be made that will reduce your vested benefits under this Plan, or divert Plan funds to any use other than for the exclusive benefit of you and your beneficiaries.  

You will become a Participant in this Plan on the date the first Employer Contribution is due to the Plan on your behalf. You will remain a Participant for as long as you earn at least 250 Hours of Service in a Plan Year. A Plan Year is July 1 through June 30. As long as you remain a Participant, all of your Hours of Service will accrue toward eligibility for benefits under the Plan.

Hours of Service are those hours you work in Covered Service for which you are entitled to be paid. Hours of Service may also include paid vacation, holidays, illness, back pay and periods during which you are on an approved leave of absence, if you are entitled to be paid at these times.

An Employer participating in the Collective Bargaining Agreement or another written agreement with the Plan is required to make Contributions to this Plan on your behalf for all your Hours of Service. When you work for an Employer who pays Contributions on your behalf, you are working in Covered Service.

If you would like to inquire about your current vesting status or benefit enrollment, please contact the plan office.