Central Pension Fund
As a Local 94 Union member, you may be eligible to participate in the International Union of Operating Engineers (IUOE) Central Pension Fund.
What is the Central Pension Fund?
The Central Pension Fund provides a source of income for your retirement. As a defined benefit plan, the Central Pension Fund pays monthly benefits to you or your dependents once you retire.
The money you receive from your Pension Fund comes from Employer Contributions made while you are actively at work. Your benefits from the Central Pension Fund are guaranteed and will only grow with time. The longer you work and the longer you are a member of the Central Pension Fund, the more benefits you receive.
Visit the Central Pension Fund Website
The IUOE, not the Local Union, administers the Central Pension Fund. To learn more about the Central Pension Fund, such as how the Fund works and to see the latest Annual Funding Report, visit the Central Pension Fund website.
You may also contact Joan Dimarco by email or at (212) 331-1836.
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How do I name a beneficiary?
If you are married, your spouse is automatically your beneficiary. With your spouse’s consent, you may change your beneficiary. You can and should name a secondary and tertiary (third) beneficiary in the event your primary beneficiary predeceases you. Complete a form if naming anyone other than your legal spouse. Your spouse must also sign the form and it must be notarized.
If you are single, you should name a beneficiary by completing a form and submitting it to John Hancock Retirement Plan Services. If you are single and do not name a beneficiary(ies), your estate will receive your account in the event of your death.