Summary Plan Description

Overview of Regulations Relating to
Regular Pension

(For a more complete description, including rules applicable to prior periods, consult your Summary Plan Description booklet)

You are eligible to retire with a Regular Pension if you are:

• At least 60 years of age,

• Have accumulated at least 10 Pension Credits, including at least one Pension Credit earned after June 1, 1971, and

• Worked at least 500 hours in Covered Employment in a calendar year after you have reached age 53.

Note that in order to be eligible for a Regular Pension at age 60, you must have worked at least 500 hours in Covered Employment in a calendar year beginning on or after January 1, 1992. Otherwise, you are eligible for a Regular Pension at age 62. The pension amount is calculated by taking the sum of the following two amounts, as applicable:

• $2.00 times the number of Pension Credits earned before June 1, 1971, plus

• 4.5% times the total contributions paid to the Fund on your behalf for your work in Covered Employment after June 1, 1971.

Note: You must have worked at least 500 hours in Covered Employment in a calendar year beginning on or after January 1, 1992 to qualify for the 4.5% accrual rate.