Retirement: RDC Annuity
Individual Annuity Accounts are established for all Employees for whom Employer Contributions are made to the Fund who then become Participants in the Plan.
For Local 846/847 projects, the contribution is currently available on all projects and will vary.
For Local 846/847 members traveling outside our jurisdiction, you can arrange to have your retirement contributions sent to our fund. Typically pension benefits require you to work a certain number of hours and years to be vested. If you opt to keep your money at the other local, you may lose your pension contribution. By sending your money to the RDC annuity fund, your retirement contributions build dollar for dollar whether they are annuity or pension contributions.
A Participant other than a Beneficiary will become eligible to receive his Accumulated Share when the Participant:
- Attains his Normal Retirement Age;
- Becomes Totally and Permanently Disabled; or
- Retires by completely withdrawing from any employment for wages, salary or profit in the iron working industry and has received a benefit from the Social Security Administration at age 62, or a Disability Benefit at an earlier age, and
- Applies for a Normal Retirement Benefit from the Fund.