Applying for Pension Benefits

Applying for your Federal Signal pension benefit can be done in a few simple steps:

  1. Contact Federal Signal to make notification that you wish to begin collecting your benefit at least 60-days prior to payment commencement. Use the Pension Benefit Request form and return it to Federal Signal at:
    1. Email: pension@federalsignal.com
    2. Fax:      630-954-2030
    3. Phone: 630-954-2292
    4. Mail:    Federal Signal Corporation
                  Attn: Pension Administration
                  1415 West 22nd Street
                   Suite 1100
                   Oak Brook, IL 60523
  2. Federal Signal will calculate your retirement benefit options and provide you with a comprehensive enrollment package of information and documents to be completed.
  3. Review and complete the required enrollment information. Return the completed documents to Federal Signal for processing.
  4. Federal Signal will complete your pension enrollment with Bank of America. Federal Signal retirement benefit payments are made through a Bank of America Plan bank account.
     

Getting Started
You can begin the retirement process by providing written notice to Federal Signal of your desire to begin collecting your pension benefit using the Pension Benefit Request form or calling Federal Signal at 630-954-2292. You should contact Federal Signal approximately 60, but not more than 90, days prior to your desired benefit commencement date to allow plenty of time for calculation, review, selection and enrollment. 

You can return the completed Pension Benefit Request form to Federal Signal via email to pension@federalsignal.com or via fax to 630-954-2030.

 

Pension Calculation and Enrollment Packet
When Federal Signal receives your request for benefit commencement, we will begin working on calculating your eligible benefit options. An enrollment packet will be provided to you for review and completion. Because the elections that you make during the pension enrollment process are irreversible once your pension begins, we want to make sure that you fully understand how both the date you begin receiving your pension and the beneficiary you elect can significantly affect the amount of your benefit payments.

 

Pension Enrollment Materials
Your pension enrollment package will include the following:

  • Cover letter
  • Retirement benefit options descriptions
  • Benefit option election form
  • Joint annuitant designation form – for joint and survivor benefits
  • Beneficiary designation form – for certain and life benefits
  • Lump sum election for – if eligible
  • Lump sum notice – if eligible
  • Direct deposit request
  • Federal tax withholding form W4-P
  • Wisconsin state tax withholding form – Wisconsin residents only
  • Business reply envelope for your convenience

 

Submitting Your Completed Enrollment Package
Once you have completed your pension enrollment package, it must be returned with all necessary documents (including birth certificates and marriage license) to Federal Signal. A business reply envelope will be included with all packages sent via mail to your home address. If you do not receive a package mailed to your home address (emailed to you directly), please send all necessary documents to:

            Mail:    Federal Signal Corporation
                        Attn: Pension Administration
                       1415 West 22nd Street
                        Suite 1100
                        Oak Brook, IL 60523

            Email: pension@federalsignal.com
            Fax:    630-954-2030

 

Completing Enrollment
After receiving the required documents, Federal Signal will process your enrollment with Bank of America. Retirement services at Bank of America-Merrill Lynch provides Federal Signal with institutional trust, custody and payment services for the Federal Signal Retirement Plan. If there are any problems with processing your pension benefit enrollment, Federal Signal will contact you to complete any missing information.

 

Benefit Payments
Federal Signal pension payments are made on the first business day of each month, and enrollment in direct deposit is encouraged to ensure the timely receipt of payment. If Bank of America is unable to process a direct deposit (incorrect account information, account closure, etc.) a physical check will be mailed to the address on file.

 

 

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