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The WoodmenLife Pension Plan rewards eligible associates who were first employed by WoodmenLife before October 1, 2006, for long and loyal service by providing them with retirement benefits. Participants were also required to reach 21 years of age and complete one year of service to be eligible. Those who were receiving disability benefits under WoodmenLife's group disability income plan and had at least five years of service at the time they became disabled also continued to be eligible for the pension plan.

In October 2006, associates had the option to cease all benefit accruals under the pension plan after December 31, 2006, and begin participating in matching contributions and service-related employer contributions with the WoodmenLife 401(k) Plan. At this time, new enrollments in the pension plan also ceased (this included associates hired or rehired after Sept. 30,2006).

Pension Plan Participants

For those that continued their participation in the pension plan during the 2006 changes, the following guidelines apply:

Click here for more detailed information on the pension plan, as well as implications for those who switched to the 401(k) in 2006.