Support for the
Monterey Bay Community
ASSISTING EMPLOYEES IN THE CULINARY, BARTENDING, AND HOSPITALITY INDUSTRIES
BACKGROUND AND HISTORY
Monterey Bay is one of the top tourist destinations in California and the services performed by our members play an integral role in fulfilling the wonderful vacation experience that visitors have come to expect.
The Monterey Culinary Pension Fund was established in November 1977 to provide a supplementary pension benefit for the employees who work in the culinary, bartending, and hospitality industry covered under the collective bargaining agreement with UNITE HERE HEALTH Local 483.
Throughout the years, the cooperation between Local 483 and the sponsoring employers have sought to attain a viable retirement income that reflects the contribution of our participating members to the Monterey Bay community.
ARE YOU ELIGIBLE?
You are an eligible employee in the Monterey Culinary Pension Fund if you are working for a contributing employer in a job covered by a Collective Bargaining Agreement (CBA) negotiated by UNITE HERE HEALTH Local 483, which requires the employer to make contributions to the Pension Trust for hours worked by you under the terms of the CBA. For assistance with determining if you are an eligible candidate for our services, reach out to our team today.
HOW TO PARTICIPATE
If you are credited with at least 1000 Hours of Service during the first day of the Plan Year, or 900 Hours of Service in each of three consecutive Plan Years, then you are considered a Participant in the Monterey Culinary Pension Fund. Once you become a participant, you are entitled to receive benefits from the plan based on your years of service and other factors.
The Monterey Culinary Pension Fund is designed to help provide financial security for retired workers in the culinary industry, and participation in the plan is a valuable benefit for eligible employees. Have questions? Give us a call.
OUR VESTING POLICY
In the context of this plan, a "Vested Participant" is someone who has earned a nonforfeitable right to 100% of their accrued benefit. To become a Vested Participant, you must have worked at least 1,000 hours during a Plan Year, for which you will receive one year of Credited Service.
You will become fully vested when you satisfy one of the following conditions, whichever comes first: (1) you have been credited with 5 Vested Years, or (2) you have been credited with 5 Years of Credited Service. Once you become a Vested Participant, you will have earned the right to your entire accrued benefit, which will provide financial security in your retirement years.
TERMINATION POLICY
If you have not attained Vested Status or are not a Pensioner, your participation terminates when you incur 5 consecutive One-Year Breaks in Service (on the plan year from August 1 to July 31) in which you work less than 400 Hours of Service. Once terminated, you again become a Participant after satisfying the 400-hour requirement described above under "How to Participate." Would you like additional information? Give our team a call and we'll happily help you!
DISABILITY RETIREMENT
A Participant may qualify for Disability Retirement Benefit if you are permanently disabled as determined by the Social Security Administration. That means that a Participant is incapable of performing any gainful employment for the remainder of the Participant’s life.
A Participant who incurs a Disability prior to his or her retirement and who is credited with at least five (5) Vested Service Years or five (5) years of Credited Service shall be eligible to receive Disability Retirement Benefits as of the date of the Disability. For help determining your eligibility, reach out to us for assistance.
Frequently Asked Questions
Here are answers to some of our most common questions. Can't find what you're looking for? Reach out to our team and we will be happy to assist you.
