Pension Summary Plan Description

F.3 Vesting

You become vested when you meet any one of the following requirements:

  • you earn 10 years of Vesting Service;
  • you earn 5 years of Vesting Service, you receive credit for 2,000 Contributory Hours, and your age plus your years of Vesting Service equals at least 60;
  • you meet the minimum hour and Contribution requirements explained under Retirement Date, you earn 5 years of Vesting Service, you receive credit for 2,000 Contributory Hours, and your age plus your years of Vesting Service equals at least 55;
  • you are age 65 or older and have reached the fifth anniversary of the date you became a Pension Plan Participant (tenth anniversary for service performed before July 1, 1988); or
  • for Participants not covered by a Collective Bargaining Agreement after June 30, 1989, you meet the Vesting requirements described in Appendix B.

If you have at least three years of Vesting Service before August 1, 1990, you will have your vested benefit, for all Benefit Service, calculated according to the vesting rules explained above or the vesting rules explained in Appendix B.

If you became a Participant before July 1, 1990, you will receive Vesting Service as described in Section 3.2.2, Vesting Service for Covered Employment Before You Became a Participant for those Contributory Hours, except that each Plan Year in which you earned Contributory Hours does not have to be consecutive with another Plan Year in which you had Contributory Hours.