M.E.B.A. Pension
The best pension plan in the Industry
After 20 years you can retire and collect $100k/year for life. No market risk. No minimum age. A defined benefit plan that actually delivers.
$100k+
Annual Pension
After 20 years of service
20 yrs
To Full Retirement
No minimum age required
Top 5
Earning Years
Pension based on your best years
41
Earliest Retirement
Available as early as age 41
01
How It Works
Three steps to a lifetime pension.
01
Step
Join and start sailing
Sign up with M.E.B.A. and begin working under a covered contract. You start earning pension credits from day one.
02
Step
Earn pension credits
240 days of covered employment (sailing, vacation, school) equals one full year of pension credit. Five years and you're vested for life.
03
Step
Retire on your terms
At 20 years, retire at any age with a full pension. Your benefit is calculated on your top 5 consecutive earning years. It's locked in. No market risk.
02
Pension Calculator
Calculate your pension.
Select your start year and rank to see your projected annual retirement income.
*Figures based on publicly available pension plan information. Current OSG wage rates with 2.5% annual increase. Highest position is position last sailed.
Pension Calculator
FIG. 02
Start Year
Years of Service
Rank
Captain / Chief
CM / 1AE
2M / 2AE
3M / 3AE
Your Calculated Annual Pension
$0
After 20 years of service
*Figures based on publicly available pension plan information. Current OSG wage rates with 2.5% annual increase.
03
How M.E.B.A. Compares
How M.E.B.A. compares.
After 20 years of service, the M.E.B.A. pension pays nearly 3x what comparable plans deliver.
M.E.B.A.
~$100,000 / year
Other maritime unions
~$35,000 / year
Non-union (typical DC plan)
Varies / market-dependent
04
DB vs. DC
Defined Benefit vs. Defined Contribution
M.E.B.A. provides both as standard in most contracts, including OSG and ATC. Here's why the Defined Benefit plan matters.
Defined Benefit - M.e.b.a
Standard
✓
Guaranteed income
Based on your salary history and years of service. Predetermined and predictable.
✓
Employer bears the risk
Investment performance is not your problem. The employer ensures your benefits are paid regardless of market conditions.
✓
Lifetime stability
Provides a reliable income source throughout retirement. Based on your best 5 consecutive years.
Defined Contribution
Typical
✕
Market-dependent
Based on contributions and investment performance. Your eventual benefit is not guaranteed.
✕
Employee bears the risk
You control the investment choices, and the eventual benefit is subject to market fluctuations.
✕
No guarantee
Retirement income depends on how the market performs. A downturn at the wrong time can reduce your benefit significantly.
05
Featured Story
If you invest your entire self into the job, it will pay you back.
I do this job for my family. Everything I do, I do for my family.
Keith
•
Chief Engineer, Matson
06
Downloads
Download Summary of Benefits
Ready to see what M.E.B.A. can do for your career?
Six steps. $150 to start. The best pension, healthcare, and training in the industry from day one. Download the application or find your nearest hall.
