Pension Contact Information
If you wish to learn more about your Pension Plan, or ask questions about your eligibility, please call the NYCDCCBF Member Services Call Center at (800) 529-FUND (3863) or (212) 366 7373.
Pension
The NYCDCC Pension Plan is meant to be an important supplement to your Social Security and other sources of retirement. The amount of your benefit is determined under Plan formulas described in your SPD.
How the Pension Trust Fund Works
- The Union and your employer negotiate contribution levels and the Trustees set benefit levels. No contributions from you are required or permitted.
- The Fund is administered by the Board of Trustees with representatives from the Union and the Contributing Employers.
- The Fund is a separate legal entity established for the purpose of providing Plan benefits. The money in the Fund is used exclusively to provide benefits and cover Plan administration expenses.
Benefit Eligibility
There are three types of pensions currently available under the Plan.
- Regular Pension
- Disability Pension
- Pro-Rata Pension
Qualified Domestic Relations Order (QDRO)
Procedures for NYCDCC Pension Plan
*Please Note- Effective as of October 1, 2013, all participants are required to fill out two separate beneficiary forms. One form, which comes from the Fund Office, designates a beneficiary for your Pension and Welfare benefits. The second form, which comes from Empower, designates a beneficiary for your Annuity benefits. If you have only completed one of these forms, your beneficiary designation will not carry over for both. Instead, your benefit for the form you have not completed will be paid out in the manner stated in the appropriate Summary Plan Description (“SPD”). Further, if you have failed to complete either form, all of your benefits will be paid out as stated in the SPDs. Participants should also note that beneficiaries should be changed on both forms in the event of a divorce or separation agreement. Divorce judgments and/or wills cannot always be applied to Pension, Welfare, and Annuity benefits without completed beneficiary forms.
NYCDCC Pension Fund SPD
Pension
Disability Pension Application
Pension Appeal Form
Pension Application
Direct Deposit Authorization Form
W-4P 2025
Other
NYCDCC Health Enrollment and Beneficiary Designation Form
To request any forms or documents that you do not see available on the website, please call the Benefit Funds Call Center at (800) 529-FUND (3863) or (212) 366-7373.
FAQs
What are my normal options for pension payment?
Your payment options are as follows:
• Single Life (not married)
• 50% Participant & Spouse Pension (married)
• 75% Participant & Spouse Pension (married) • Social Security Level Income
What is the current benefit formula to calculate my pension?
Effective July 1, 2006:
• You receive 1% of annual employer contributions on your behalf.
• You must work at least 300 hours per year.
• Monthly benefits may be reduced based on the option you select.
How do Vesting Credits work?
• 870 hours worked in a year (or more) = 1 Vesting Credit (you cannot get more than 1 Vesting Credit in a year but additional hours are factored into your benefit calculation.)
• 600 hours = ½ Vesting Credit
• 300 hours = ¼ Vesting Credit
How do I become eligible to receive a pension in the NYCDCC Pension Plan?
You must:
• Work 870 hours in a period of two consecutive calendar years.
• Obtain at least 5 credits in order to be vested and eligible for a pension at 65.
• Obtain at least 15 credits to qualify for a pension prior to age 65 (55).
Do I have to pay taxes on my pension?
Yes. While you pay no taxes on the contributions that Contributing Employers make to the Plan while you are working, the monthly pension payments you receive from the Plan are taxable. You will receive more information on tax withholding when you become entitled to a Plan distribution.
How soon after I stop working will I receive my first pension payment?
If you are eligible for benefits, it takes two to three months to process an application, depending on when it is filed.
Can I receive my pension in a lump sum?
Generally, no. However, if the lump sum “actuarial” value of your benefit is $1,000 or less, your pension will automatically be paid in one lump sum.
When are pension payments made?
Your monthly pension payments will be sent/deposited at the beginning (first business day) of each month.
How do I notify you of a change of address?
You can change your address by filling out a Change of Address form and following the instructions located on the form. You can find the Change of Address form here: Change of Address Form
I retired a few years ago. My pension was being paid under the 50% Participant and Spouse form until my wife died a couple of months ago. Can I have my widowed sister replace her as my beneficiary?
No. You cannot do that under this Plan. If your spouse dies before you, your benefit will pop up to the unreduced amount that would have been payable if you were not married when you retired, but you may not name a new beneficiary.
Once my pension begins, can I change the optional form or type of pension?
No. You cannot change the optional form of pension–such as changing from a 50%
Participant and Spouse option to a 75% Participant and Spouse option, or a Single Life Pension, or removing the Social Security Level Income option. Nor can you change the type of pension that you are receiving unless you cease to be eligible for that pension and subsequently qualify for a different type of pension.
Can anyone other than my spouse receive a benefit from the Plan if I die before retirement?
Only your surviving spouse can collect the “Pre-Retirement Surviving Spouse
Pension” if you die before retirement. However, if you are not married, are active, and
had at least four Vesting Credits, a lump sum benefit ranging from $3,000 to $10,000 (depending on the amount of your Vesting Credit) will be paid to your beneficiary. There is more information about this benefit in the section of the Summary Plan Description entitled “In the Event of Your Death Before Retirement.”
I have been receiving pension payments for a few years and got divorced a couple of months ago. Next month I am going to get married again. I am receiving my payments under the 50% Participant and Spouse Pension and want to change my beneficiary so that my new spouse, not my ex-spouse, will get the benefit due when I die. Is this permissible?
No. Your former spouse’s right to a survivor benefit vested at the time of your retirement, and your subsequent divorce does not affect his or her right to a survivor benefit. Therefore, your former spouse will be entitled to the survivor benefit when you die. Your new spouse will not be entitled to a survivor benefit.
A friend told me the value of his 401(k) plan account dropped because of the stock market. Could this happen to my Pension Plan benefit?
No. A 401(k) plan is a “defined contribution” individual account plan under which your benefit at retirement depends on the value of assets in your account when you collect your benefit. Our Plan is a “defined benefit” pension plan under which the benefit is calculated under a stated formula. The benefit calculated under this formula is not directly affected if Plan investments decline in value.
How do I get an estimate of the current value of my pension?
Log into the Member section of our website at www.nyccbf.org and select "View Pension Estimate" from the menu.
My spouse and I would like to help our child with the down payment on a house. Can we get a loan from the Plan for that?
No. This Plan does not allow you to borrow or withdraw money.
