CENTRAL PENSION FUND

One of the biggest benefits of Union Membership is knowing that when you become of age, you will be able to retire and live a comfortable life. Local 841 members will draw retirement benefits from the Central Pension Fund. For every hour worked, contractors pay in a certain negotiated dollar amount, which is credited to that particular member's retirement account. Statements are mailed semi-annually so that the member can check and ascertain that the contractor has paid in on all hours worked. Vesting is achieved after five (5) calendar years, provided the member accumulates at least 1080 working hours during the year.

There are provisions for disability as well as provisions for a spousal pension at retirement, in the event something happens to the participating employee. Knowing that our members will not have to rely soley on Social Security for a retirement income is very important to the leadership of this union.