Pension Summary Plan Description

C.3 Rule of 80 Retirement for Benefits Accrued Before January 1, 2012

The benefits described in this Section C.3 are calculated based on Section 5, including prior accrual rates applicable under Appendix H.

If you both attained age 50 and met the service requirements specified in Subsection (a) through (d) of this Section C.3 on or before December 31, 2011 you are entitled to receive the amount of your Normal Retirement Benefit earned on or before December 31, 2011 as an Unreduced Benefit. The service requirements are:

  1. During either the two consecutive Plan Years ending June 30, 2011, or the two consecutive Plan Years ending June 30, 2012, you earned a total of 1,000 or more Contributory Hours for which a Rule of 80 or Rule of 85 Surcharge was payable; and
  2. You earned at least 10,000 Contributory Hours after June 30, 1990, or earned at least 5 Contributory Years of Service after June 30, 1990; and
  3. Your age plus Contributory Years of Service totals at least 80; and
  4. Your Retirement Date is no less than 12 months after your first Hour of Work for which a Rule of 80 or 85 Surcharge is owed.