Issue link: https://pma.uberflip.com/i/277369
41 Retirees, Pensioners and Surviving Spouses The table to the right shows the number of pension benefit recipients by calendar year. Effective April 1, 1990, the Plan commenced payment of vested pension benefits to actively employed participants who had attained age 70 1 ⁄2 on or after July 1, 1988. These monthly payments, which are referred to as In-Service Distributions, are equal to the amount of the monthly pension to which the participant would be entitled if he retired, and the payments commence on April 1 of the year following his having attained age 70 1 ⁄2. The in-service distribution rules under the Plan were eliminated for participants reaching age 70 1 ⁄2 after the end of the 2002 calendar year. At the end of 2013, the Plan was paying $27,188,586.28 per month to 8,607 benefit recipients. ILWU-PMA Welfare Plan The ILWU-PMA Welfare Plan provides comprehensive health care and related benefits to qualified active and retired participants and their qualified dependents. Plan Funding The Plan is primarily funded by PMA through employer assessments on tonnage and payroll hours. If an employee is required to contribute to the California State Dis- ability Insurance Program, the employee's contribution to the Plan is reduced by the amount of the employee's payment to that Program. The Trustees set the employee contribution rate. In setting the rate, the parties customarily adhere to the annual recommendation of the Plan Consultant. This is based on the sufficiency of the current rate of employee contribu- tions in relation to the "Weekly Indemnity" and the "Non-Industrial Disability Supplement" benefits. Contributions to the Widows' Independent Living Subsidy Program ceased in 2008. Tenure of the Agreement The Plan runs concurrently with the 2008-2014 Pacific Coast Long- shore and Clerk's Agreement. Unless provided to the contrary, extension or renewal of the Pacific Coast Long- shore and Clerks' Agreement extends the Plan, and the Plan remains in effect for the period of the extension or renewal. If the Plan were to be terminated, the remaining assets of the Plan would be used for payment of benefits until the assets were exhausted. I N D U S T R Y B E N E F I T S 1993 1998 2003 2008 2013 0 4 6 8 Surviving Spouses Pensioners 10 2 Number of Pension Benefit Recipients (thousands) NUMBER OF BENEFIT RECIPIENTS BY YEAR Normal/ Dis- In- Sub- Post- Pre- Sub- Early ability Service QDRO total Retire Retire total Total 2004 3,731 1,136 138 195 5,200 3,004 487 3,491 8,691 2005 3,685 1,112 120 201 5,118 2,954 496 3,450 8,568 2006 3,776 1,097 96 226 5,195 2,874 502 3,376 8,571 2007 3,763 1,055 83 247 5,148 2,831 519 3,350 8,498 2008 3,750 1,018 71 253 5,092 2,778 530 3,308 8,400 2009 3,996 999 60 278 5,333 2,712 545 3,257 8,590 2010 3,997 983 54 302 5,336 2,676 553 3,229 8,565 2011 3,974 970 45 314 5,303 2,629 571 3,200 8,503 2012 4,076 964 36 331 5,407 2,581 584 3,165 8,572 2013 4,105 959 27 351 5,442 2,561 604 3,165 8,607 PENSIONERS SURVIVING SPOUSES COSCO Philippines calls at Pacific Container Terminal at the Port of Long Beach. 41 P A C I F I C M A R I T I M E A S S O C I A T I O N