FAQs - 32BJ Funds 2025

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  1. Click ‘Get Form’ to open the FAQs - 32BJ Funds document in the editor.
  2. Begin by entering your last name, first name, and middle initial in the designated fields. Ensure accuracy as this information is crucial for your membership.
  3. Fill in your Social Security Number and date of birth. This information is necessary for identification purposes.
  4. Provide your home phone number and address, including city, state, and ZIP code. This ensures that the Union can contact you regarding important updates.
  5. Complete the employer section by entering your employer's name and work location. Include your hire date, hourly rate, hours per week, and job title.
  6. Sign the application where indicated to authorize membership and payroll deductions. Make sure to date your signature.
  7. If you wish to contribute to the 32BJ American Dream Fund, select your preferred weekly contribution amount and provide your mobile phone number and email address for communication purposes.

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However, you unfortunately cannot begin receiving Social Security retirement benefits at 55. Retirement income at 55 typically relies heavily on personal savings and investments. Unlike later retirement, Social Security is not yet available.
Program A of the Building Service 32BJ Pension Fund is the largest Pension Plan covering 32BJ members. It covers nearly 50,000 members working in commercial and residential employment in Manhattan, Brooklyn, Queens and Staten Island.
Individuals can claim old-age Social Security benefits as early as age 62, and monthly benefits increase as one delays claiming up to age 70, but the so-called full retirement age (FRA)currently 67is the age at which an individual can claim a monthly benefit equal to their primary insurance amount (PIA).
Currently, you can only start taking your pension savings once you docHub age 55. This is known as the normal minimum pension age (NMPA). There are some exceptions to this like if youre suffering from ill health or have a lower protected pension age, for example. But generally, the rule is the same for most people.
You may begin receiving your pension when you retire early, at age 65, or after age 65. Your pension does not begin automatically; you must apply for it in advance.

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There are pros and cons to both plans, but pensions are generally considered better than 401(k)s because they guarantee an income for life. A 401(k) can be more aggressively managed by the individual, which could create more growth than is likely from a pension fund.

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