Plan Highlights

Regular Retirement

You will be eligible to retire at age 62 with five years of pension credit if you worked at least one hour on or after January 1, 1997. You may continue to work in employment covered by the Pension Plan without penalty. You may elect to take 50% of the present value of your pension benefit in a lump sum ($50,000 maximum). The remaining 50% in value will be paid out as a monthly benefit for life.

Early Retirement

You are eligible to retire at ages 55-61 with five years of pension credit if you worked at least one hour on or after January 1, 1997. Your pension will be paid at a reduced rate. If you work 40 hours or more in a calendar month in employment covered by the Pension Plan, your Early Retirement benefit will be suspended for that month. The lump sum option is not available for Early Retirement.

Disability Retirement

If you become totally and permanently disabled before you are eligible for a Regular Retirement benefit, you may be eligible for a Disability Retirement if you earned five years of pension credit, and if you worked a total of at least 300 hours combined in the year you became disabled and the year prior. Other eligibility requirements may apply, please refer to the Summary Plan Description and Amendment(s) under Plan Document & Forms.

Death Benefits

There are two types of Death Benefits:

Qualified Pre-Retirement Survivor Annuity - This benefit is paid to your surviving spouse if you are vested and have been married at least one year. The benefit amount is based on the value of your pension at time of death. Other eligibility requirements may apply, please refer to the Summary Plan Description and Amendment(s) under Plan Document & Forms.

Pre-Retirement Death Benefit - This benefit is paid to your surviving spouse if you have been married at least one year, or (if you are not married) to your estate. Other eligibility requirements may apply, please refer to the Summary Plan Description and Amendment(s) under Plan Document & Forms.