Local 804 has secured a $470 pension increase to the Local 804 Pension. The pension improvement went into effect on Jan. 1, 2025. To be eligible for the increased pension, an active employee needs to work at least one day in January 2025.

The 25-year/Over-55 pension will increase 10% to $5,170. The 25 years of service pension will increase from $4,200 to $4,670, plus $100 per year over 25 years with a max of $5,170.

The service pension accrual is now $180.40 per year of service, up from $164 per year in 2022.

In the last five and a half years, there have been a total of $1,170 in pension improvements to the max pension, plus a $36 dollar improvement to the accrual rate. That’s $1,370 in increases across the board!

Have questions about pension eligibility, applying for your pension or planning retirement? Contact Pete DePierro at 718-786-5700.