Logo
Profile Administrator Log In  
 


December 27, 2016 | Print | Site Map | Help
 

Pension Plan

 
Eligibility for Benefits

Important: Information on this page may have been affected by recent updates to the Plan. Please review the updates contained within the September 2009 Critical Status Rehabilitation Plan notice.

General
This Article sets forth the eligibility conditions and amounts payable for the pensions provided by the Plan. The accumulation and retention of Benefit Units and Credited Service for eligibility are subject to the provisions of Article 6. The pension amounts are subject to reduction on account of the Husband-and-Wife Pension (Article 7) or optional payment forms (Articles 8 and 9). Entitlement of an eligible Participant to receive pension benefits is subject to his retirement and application for benefits, as provided in Article 11.

Eligibility depends in most instances upon Credited Service, which is defined in Sections 6.02 and 6.03 and takes into account creditable employment both before and after the Contribution Period began. Pension amounts (and in some instances, eligibility) are based on accumulated Benefit Units as defined in Section 6.04 which also take into account creditable employment both before and after the Contribution Period began. Pension amounts attributable to certain time periods are based upon a percentage of Contributions formula.

Regular Pension – Eligibility
A Participant who has Retired shall be entitled to receive a Regular Pension if he meets the following requirements:

  1. He is at least age 65 and has achieved Vested Status in accordance with Section 6.07; or
  2. He has attained Normal Retirement Age as defined in Section 1.19.

    In addition to the above, the Participant must have filed a formal application for benefits in accordance with Section 11.01. The Participant’s Annuity Starting Date shall be established in accordance with Section 1.02.

Early Retirement Pension – Eligibility
A Participant who has Retired shall be entitled to receive an Early Retirement Pension if he meets the following requirements:

  1. He has become age 55, but not yet become age 65; and
  2. He has 10 Years of Credited Service (excluding any Credited Service canceled due to a Permanent Break in Service and any Credited Current Service earned as a result of work in Continuous Non-Covered Employment).

In addition to the above, the Participant must have filed a formal application for benefits in accordance with Section 11.01. The Participant’s Annuity Starting Date shall be established in accordance with Section 1.02.

Service Pension – Eligibility
A Participant who has retired shall be entitled to a Service Pension if he had not yet attained age 65 and meets the requirements of either a., b., or c. below:

  1. He is at least age 62 and has accumulated, without a Permanent Break in Service, at least 25 Years of Credited Service, of which at least 15 years are Credited Current Service; or
  2. Regardless of age, he has accumulated, without a Permanent Break in Service, at least 30 Years of Credited Service of which at least 15 years are Credited Current Service; or
  3. Effective August 1, 1997, regardless of age, he has accumulated, without a Permanent Break in Service, at least 25 Years of Credited Service of which at least 15 years are Credited Current Service.

    In order to be eligible for a Service Pension under this Subsection c., a Participant must also satisfy (1) and (2) below:
    1. The Participant must have at least 1,000 hours of Contributions - each of which includes an amount (currently an additional $.54 per hour) earmarked for the Service Pension under this Subsection c. - made or required to be made on his behalf on or after August 1, 1997; and
    2. Once a Participant satisfies the 1,000-hour requirement of (1) above, all subsequent hours must be contributed at an hourly rate which includes Contributions (currently an additional $.54 per hour) earmarked for the Service Pension under this Subsection c. or at least 8,000 hours (including the first 1,000 hours) must be contributed at an hourly rate which includes Contributions (currently an additional $.54 per hour) earmarked for the Service Pension under the Subsection c.
    3. Credit for periods of disability in accordance with Section 6.05.b.(3) shall be counted in determining if a Participant has satisfied the 1,000-hour requirement.
  4. In addition to the above, the Participant must have filed a formal application for benefits in accordance with Section 11.01. The Participant’s Annuity Starting Date shall be established in accordance with Section 1.02.

Amount of the Service Pension
The monthly amount of a Service Pension is the same as the monthly amount of the Regular Pension.

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

Contact Plan Administrator

Telephone NumberPhone:
(866) 894-3705

ContactEmail:
paintersinfo@hsba.com

Click for MapVisit Us
Health Services & Benefit Administrators, Inc. (HS&BA)
4160 Dublin Boulevard, Suite 400
Dublin, CA 94568-7756

Contact Website Technical Support
regarding questions related to the use of this web site.

Toll Free(866) 367-8265

Untitled Document