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PENSION FUND CALCULATOR IS NOW OPERATIONAL
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The National Automatic Sprinkler Industry Pension Fund pays more than $200 million in pension benefits to retired sprinkler fitters and their surviving beneficiaries each year. Have confidence that the NASI Pension Fund will be there for you for the rest of your life, providing a significant part of your monthly retirement income. Learn more about your pension benefit from the NASI Pension Fund using the resources and links on this site.
Model QDRO language for the NASI Pension Fund
This order assigns to (Alternate Payee's Name) the right to receive a portion of the pension benefits provided by the National Automatic Sprinkler Industry Pension Fund to (Name of Participant) if and when he may become eligible to receive said benefits.
The last known mailing address of the Participant, (Participant's name and social security number), is...
The last known mailing address of the Alternate Payee, (Alternate Payee's name and social security number), is...
[Choose one benefit division method. Option 2 is designed to satisfy Case Law in several States and usually delivers a result similar to Option 1.]
Alternate Payee shall receive . . .
(Option 1)
. . . a monthly benefit based on 50% of the value of Participant's pension credits earned during the marriage (state period of marriage) valued at the time of the first benefit payment.
(Option 2)
. . . a monthly benefit based on 50% of Participant's monthly pension benefit multiplied by the number of pension credits earned during the marriage (state period of marriage), and divided by the number of pension credits earned at the time of the first benefit payment.
Alternate Payee may elect to receive her benefits in any form of payment allowed by the Plan, except in the form of a Qualified Joint and Survivor annuity. If Alternate Payee elects to receive her payments before the Participant attains Normal Retirement Age and before the Participant retires, the benefits payable to Alternate Payee will not include any subsidy for early retirement but will be subject to the full actuarial reduction provided under the Plan. In the event Participant elects to retire from the Plan prior to reaching Normal Retirement Age and receives a subsidized early retirement benefit, Alternate Payee's benefit will be recalculated to distribute a proportionate part of the early retirement subsidy to Alternate Payee.
All benefits due the Alternate Payee shall be sent directly from the National Automatic Sprinkler Industry Pension Fund to Alternate Payee.
If the Participant dies before the time the Alternate Payee exercises her right to elect a benefit form and prior to his own retirement, then the Alternate Payee shall receive pre-retirement survivor benefits based upon the portion of the Participant's benefit accrued during the marriage. The Participant's new spouse, if any, shall be entitled to receive pre-retirement survivor benefits based upon the portion of the Participant's benefit remaining after the deduction of the Alternate Payee's portion.
