Pension Summary Plan Description

5.3 Return to Covered Employment

If you return to work in Covered Employment for 40 or more hours during a month, your monthly retirement benefit may be suspended. See Section 10, Suspendible Employment. This 40-hour limit is measured by 4-week payroll periods in the case of employers that pay on the basis of 2-week or 4-week payrolls.

In addition, if you work in Covered Employment during any month after you have retired, you may earn additional retirement benefits. Your additional benefit will be calculated based only on Contributions after your return to Covered Employment. If you return to work in Covered Employment and your benefit is not suspended under Section 10, Suspendible Employment, additional retirement benefits that you earn may be reduced or offset completely by the actuarial value of the monthly retirement benefit paid to you. If Covered Employment after your retirement results in additional contributions on your behalf, your benefit will be reviewed annually to determine the amount of any resulting increase in your pension benefit.

If you return to Covered Employment after August 31, 1999, the additional benefits earned are payable at the later of your subsequent retirement or when you reach age 65.

When you retire for the second time, you may choose a different form of payment for the additional benefits you earned during your re-employment, but you cannot change the form of payment for benefits earned prior to your first retirement.