Results for Pension

Starting Pension Plan Payments If You're Retiring

You will need to choose the type of Rockwell Automation Pension Plan payment you want, as well as how and when you want to receive it.

You can start the retirement process online on Your Benefits™. You can also initiate the process by contacting a retirement specialist.

Starting Pension Plan Payments If You Leave the Company But Are Not Retiring

If you are leaving the Company on or after Jan. 1, 2014, and are 100% vested in the Pension Plan but not eligible for retirement, you have a few options for taking your benefit with the optional early distribution. You may choose the type of Rockwell Automation Pension Plan payment you want from the available options, as well as how and when you want to receive it.

You can start the pension election process online through Your Benefits™.

Plan Ahead

Before making an election, you should carefully consider your benefit commencement date, early reduction factors that may apply and your distribution choice, as these may affect payment options and benefit amounts. Estimates of benefit amounts as of specific dates may be viewed on Your Benefits™ or obtained by contacting the RASC.

Requesting a Pension Benefit Commencement Kit

What to Do Before You Elect Your Pension Benefit

Inform the RASC of your expected last day worked and when you want to start your pension benefits (either immediately after you leave the company or postponed until a later date). If your pension payment start date is within 90 days of when you contact the RASC, you may request a Pension Benefit Commencement Kit. If it’s more than 90 days away you can receive an estimate of your benefit, and you’ll need to follow up with the RASC when you’re within 90 days (but at least 60 days) of your payment start date to request that a Pension Benefit Commencement Kit be sent to you.

When to Do It

  • If you’re ready to start your pension benefit, you need to request the Pension Benefit Commencement Kit 60 – 90 days before your last day worked.
  • If you’re not ready to elect your pension benefit, you don’t have to do anything until you are ready to start the process.

How to Do It

You can either:

  • Go online to Your Benefits™, or
  • Call the RASC and say “pension” or “retirement” when prompted.

What to Expect Next

If your pension payment start date is within 60–90 days, you will receive a personalized information packet—called your Pension Benefit Commencement Kit. You can request that the RASC mail the kit to your home address. Your kit will arrive in about two weeks.

Your kit will include these pieces:
  • Instructions on what to do
  • Pension Elections Worksheet for you to reference as you make decisions regarding your pension benefit
  • Pension Calculation Statement showing the personal information that was used to calculate your pension benefit and the amount of your benefit under each payment option that is available to you
  • Pension Option Descriptions summarizing the payment options
  • Notice of Rights outlining the legal information we are required to provide to you before you make your pension choices
  • Special Tax Notice Regarding Plan Payments outlining the tax consequences of receiving your benefit

What To Do After You Receive Your Pension Benefit Commencement Kit

What to Do Before You Elect Your Pension Benefit

Advise the RASC of your pension elections, direct deposit information and tax withholding elections, or provide rollover information if electing a lump-sum payment, after you review the information in your Pension Benefit Commencement Kit. Also, inform them of any updates to your or your spouse’s personal information.

When to Do It

30 – 60 days before your last day worked. (If you are retiring or leaving the company before the normal retirement age and you want to postpone receiving your pension benefits to a later date, you will want to do this within 30 – 60 days before you want your payment(s) to start.)

How to Do It

Call the RASC and say “pension” or “retirement” when prompted.

What to Expect Next

You will receive a confirmation packet after you notify the RASC of your pension choices. You can request that the RASC mail the packet to your home address or send it to your secure participant mailbox through Your Benefits™. Your packet will arrive in about two weeks if it is mailed to you or within a week if it’s sent to your secure participant mailbox.

It will include the following pieces, and you should carefully review them to make sure the information shown is accurate based on your personal situation:

  • Pension Election Confirmation Statement summarizing the choices you made
  • Pension Election Authorization Form that you need to complete and return to verify your choices

Finalizing Your Pension Choices

What to Do Before You Elect Your Pension Benefit

Finalize your pension choices with the RASC after you have reviewed your Pension Election Confirmation Statement and Pension Election Authorization Form for accuracy.

When to Do It

The deadline to receive your pension benefit on the first day of the month is the 10th of the previous month. (For example, if your last day worked is April 30, you would need to take this step by April 10 at the latest to receive your first monthly check on May 1. If your last day worked is May 3, you would need to do it by May 10 in order to receive your first monthly check on June 1.)

How to Do It

Sign the Pension Election Authorization Form you received earlier and return it to the RASC by fax or mail, along with any other required information. In some cases, you may also be able to return the form using document upload. Contact information will be on the first page of your Pension Election Authorization Form.

What to Expect Next

Your pension choices will take effect and your benefit will be paid to you based on the elections you made. If you elected to start your benefit right away and the RASC receives all required information by the 10th of your last month working at Rockwell Automation, here’s the earliest you will receive it:

  • If you elect the Single Life Annuity, 10-Year Certain and Life Annuity or Joint and Survivor Annuity: First of the month after your last day worked. (For example, if your last day worked is April 30, you would receive your first monthly payment on May 1. If your last day worked is May 3, you would receive it on June 1.)
  • If you elect the Lump-Sum Cash Payment: 90 – 120 days after your last day worked. (For example, if you return your paperwork on time and your last day worked is April 5, you could receive your lump-sum payment on July 1. If your last day worked is April 30, you could receive your lump-sum payment on Aug. 1.)