Pension Summary Plan Description

5.1 Past Benefit Service

When a new group joins the Pension Plan, the Trustees, in their discretion, may credit Past Benefit Service. Your Past Benefit Service is based on your work with your employer before it began making Contributions to the Pension Trust. If the Trustees grant Past Benefit Service for the new group, you will receive credit for one Year of Past Benefit Service for each Year of Contributory Benefit Service you earn after the employer begins making Contributions to the Pension Trust on your behalf, not to exceed your Past Vesting Service. If the employer withdraws from the Pension Plan, the Past Benefit Service may be canceled. Your Years of Contributory Benefit Service will be determined by dividing your Contributory Hours by 2,000.

For Past Benefit Service granted after June 30, 2001, the monthly benefit at Normal Retirement Age is equal to $25 times your credited Years of Past Benefit Service.

EXAMPLE:

Ellen worked 12½ years before her employer became a contributing Employer. In 2002, her Employer began contributing to the Plan for Ellen's Hours of Work. The Trustees granted Past Benefit Service Credit to Ellen's group. Ellen worked 20,000 hours under the Plan. Ellen's monthly Normal Retirement Benefit for her Past Benefit Service is computed as follows:

20,000 hours รท 2,000 = 10 years of the 12½ years earned out

10 years x $25 = $250 per month at Normal Retirement Age

This $250 is added to the monthly benefit at Normal Retirement Age that Ellen earns with her Contributory Hours, explained previously in this Section 5.