The Western Conference of Teamsters Pension Trust

Early Retirement Under the Rule of 84

The Rule of 84 allows long-service participants who do not qualify for a PEER program to retire at any age (even before age 55). Unlike PEER, early retirement benefits under the Rule of 84 are reduced but are still higher than under the other types of early retirement benefits payable at the same age.

ELIGIBILITY
To qualify for early retirement benefits under the Rule of 84, you must satisfy all three of the following requirements:

Be vested and under age 62, and
Have recent coverage at retirement, and
Meet the age and contributory service requirement for the Rule of 84 (Click here for an example).

Benefit Amount
Your early retirement benefit under the Rule of 84 is calculated by multiplying your normal retirement benefit by your early retirement factor. Click here to see a partial list of early retirement factors without recent coverage. Your own early retirement factor is based on your exact age (in completed years and months) on your pension effective date.

This amount assumes that you choose the life only pension. If you choose a form of payment other than the life only pension, your benefit amount is different. Click here for information about payment options.

Click here for a sample calculation of an early retirement benefit under the Rule of 84.

F Y I: Pension Effective Date

You can choose to have your early retirement benefit start on the first of any month after you first become eligible for early retirement under the Rule of 84.

However, your pension cannot begin until you stop all work for covered employers and former covered employers, including non-covered employment. Also, see the rules about choosing your pension effective date.