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Pension Plan

 
Benefit Units
  1. Benefit Units Earned Before the Contribution Date. A Participant will receive one Non-Contributory Benefit Unit (or a portion thereof) for every Year of Credited Past Service (or portion thereof) to which he is entitled under Section 6.02.
  2. Benefit Units Earned After the Contribution Date and Before January 1, 1976. Participants will receive one Contributory Benefit Unit (or a portion thereof) for Contributory Hours after the Contribution Date and before January 1, 1976, in accordance with the following schedules:
    1. In any Calendar Year in which a Participant was younger than 50 years of age, he will receive Benefit Units for Contributory Hours according to the following schedule:
      Contributory Hours in Calendar Year Contributory Benefit Units
      Less than 250 hours None
      250 to 599 hours One Quarter
      600 to 899 hours Two Quarters
      900 to 1,199 hours Three Quarters
      1,200 or more hours One Year
    2. In any Calendar Year in which a Participant was or became 50 through 59 years of age, he will receive Benefit Units for Contributory Hours in accordance with the following schedule:
      Contributory Hours in Calendar Year Contributory Benefit Units
      Less than 250 hours None
      250 to 499 hours One Quarter
      500 to 749 hours Two Quarters
      750 to 999 hours Three Quarters
      1,000 hours or more One Year
    3. In any Calendar Year in which a Participant was or became 60 or more years of age, he will receive Benefit Units for Contributory Hours in accordance with the following schedule:
      Contributory Hours in Calendar Year Contributory Benefit Units
      Less than 200 hours None
      200 to 399 hours One Quarter
      400 to 599 hours Two Quarters
      600 to 799 hours Three Quarters
      800 hours or more One Year
  3. Benefit Units Earned After December 31, 1975 and Before January 1, 1982. A Participant will receive Contributory Benefit Units (or portions thereof) for Contributory Hours After December 31, 1975 and before January 1, 1982, according to the following schedule:
    Contributory Hours in Calendar Year Contributory Benefit Units
    Less than 400 hours None
    400 to 499 hours 4/12
    500 to 599 hours 5/12
    600 to 699 hours 6/12
    700 to 799 hours 7/12
    800 to 899 hours 8/12
    900 to 999 hours 9/12
    1,000 to 1,099 hours 10/12
    1,100 t 1,199 hours 11/12
    1,200 hours or more One Year
  4. Benefit Units Earned After January 1, 1982. A Participant will receive Contributory Benefit Units (or portions thereof) for Contributory Hours on or after January 1, 1982, according to the following schedule:
    Contributory Hours in Calendar Year Contributory Benefit Units
    Less than 400 hours None
    400 to 499 hours 4/12
    500 to 599 hours 5/12
    600 to 699 hours 6/12
    700 to 799 hours 7/12
    800 to 899 hours 8/12
    900 to 999 hours 9/12
    1,000 to 1,099 hours 10/12
    1,100 to 1,199 hours 11/12
    1,200 to 1,299 hours One Year
    1,300 to 1,399 hours 13/12
    1,400 to 1,499 hours 14/12
    1,500 hours or more 15/12
  5. Other Benefit Units Earned After the Contribution Date. A Participant will be entitled to Benefit Units for any period after his Contribution Date during which he was employed in work for which Participants with a later Contribution Date are granted Non-Contributory Benefit Units. The number of Benefit Units granted on this basis will be determined in accordance with Section 6.04.a.
  6. Exception: A Participant shall not be entitled to Benefit Units for the following periods:
    1. For the period preceding a Permanent Break in Service as defined in Section 6.06.a. for periods prior to January 1, 1976.
    2. For periods preceding a Permanent Break in Service as defined in Section 6.06.c. for periods after December 31, 1975 and before January 1, 1985.
    3. For periods preceding a Permanent Break in Service as defined in Section 6.06.d. for periods on or after January 1, 1985.
  7. Carry-Over of Hours After December 31, 1980 and Before January 1, 1982. With respect to periods after December 31, 1980 and before January 1, 1982, if a Participant works more Contributory Hours in a Calendar Year than are required for one Contributory Benefit Unit, excess Contributory Hours will be credited to the Participant in the next following Calendar Year (but only the next following Calendar Year) if he does not work sufficient hours in the next following Calendar Year to earn one Contributory Benefit Unit. This provision is applicable with respect to excess hours earned in the Calendar Year 1980.
  8. Carry-Over Hours After December 31, 1981 and Before January 1, 1986. With respect to periods after December 31, 1981 and before January 1, 1986, if a Participant works more Contributory Hours in a Calendar Year than is required for 15/12 of a Contributory Benefit Unit, excess Contributory Hours will be credited to the Participant in the next following Calendar Year (but only the next following Calendar Year) if he does not work sufficient hours in the next following Calendar Year to earn one Contributory Benefit Unit. This provision is last applicable with respect to excess hours earned in the Calendar Year 1985.
  9. Prorated Benefit Units after December 31, 1975. If a Participant earns a Year of Credited Service (based on Continuing Non-Covered Employment) in a Calendar Year after December 31, 1975, but works less than 400 Contributory Hours, he shall be credited with a prorated portion of a full Benefit Unit, in the ratio which his Contributory Hours of work bear to 2,000 hours.

References to specific section(s) of the Plan can be found in the Official Plan Document under Plan Documents on this website.

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