Pension Summary Plan Description

B.3 Summary Table of Vesting Requirements Prior to July 1, 2001

The following table summarizes the requirements for Vesting Service and vesting standards under the Plan before July 1, 2001.

VESTING REQUIREMENTS
  Before June 30, 1990 July 1, 1990 - June 30, 1999 July 1, 1999 - June 30, 2001
Work Requirement Participant in Plan before June 30, 1990 Participant after July 1, 1990 Participant after July 1, 1999
Vesting Servicea
Hours of Work in Plan Year
Less than 1, 000
1,000 - 2,000
More than 2,000
Vesting Service
Hours/1,000
1
Hours/2,000

Vesting Standards

100% if you have:

  • 10 years Vesting Service,b or
  • Vesting Service (minimum 5 plus age equals 60c or more, with at least 2,000 Contributory Hours
    or
    65 or older and reached 5th anniversary of participationd
  • Less than 5 years Vesting Service: 0%
  • 5 years - 9 years Vesting Service after June 30, 1990: 50%
  • 10 or more years Vesting Service: 100%b
    or
    65 or older and reached 5th anniversary of participation

5 years Vesting Service: 100%
or
65 or older and reached 5th anniversary of participation

a. There were pre-ERISA qualifications for Vesting Service earned prior to June 30, 1976.
b. For those with 1 hour of service after June 30, 1989, 5 years vesting service if you are not covered by a Collective Bargaining Agreement.
c. The number 60 becomes 55 if you qualified for retirement benefits, as explained in Appendix F.
d. 10th anniversary if not a Plan Participant after July 1, 1988.