You are eligible for a benefit if you are an
active employee at or after normal retirement age regardless of your number
of Pension Credits or years of Vesting Service. You attain Normal Retirement
Age upon your 65th birthday if you have at least five years of
Plan participation. Otherwise, Normal Retirement Age will be your age after
age 65 on the fifth anniversary of your participation in the Plan. To be
considered an active employee, you must work 500 hours in covered employment
in the year you obtain Normal Retirement Age or a subsequent year prior to a
permanent break in service.
The pension amount is determined by
multiplying the total contributions paid to the Fund on your behalf for your
work in Covered Employment by 4.5%, similar to the Regular Pension
calculation. This amount is then multiplied by the applicable percentage in
the following table, based on your years of Vesting Service:
|
Years
of Vesting Service
|
%
of Regular Pension Payable
|
|
Less Than 5
5
6
7
8
9
10
|
0%
25%
30%
35%
40%
45%
100%
|
