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What Types of Pensions Are Provided by the Pension Plan?
The Pension Plan provides several different kinds of pensions as follows:

  •  A Regular Pension if:
o       You are at least age 65; and
o       You are Vested.
  •     An Unreduced Early Retirement Pension if:
o       You are age 60 but younger than age 65; and
o       Your effective date of first Retirement is on or after July 1, 2004; and
o       You are Vested.
  •     An Early Retirement Pension if:
o       You are age at least age 55 but not yet age 60; and

o       You are Vested.

  •     DISABILITY PENSION
You are eligible for a Disability Pension if you:
o       Have earned either:
o      15 Years of Pension Credit, or
o    At least 10 but less than 15 Years of Pension Credit provided you have earned at least ¼ Year of Pension Credit in the calendar year in which you became disabled or during any or the immediately preceding five consecutive calendar years;
and
o       Submit either:
o     Evidence that the Social Security Administration has issued a finding that you are entitled to disability benefits under Title II of the Social Security Act, or
o Medical records and other relevant evidence that enables the Trustees, taking into account the opinion issued by the Plan's medical consultant, to conclude that you are Disabled.  You will be considered Disabled if the Trustees, in their sole and absolute judgment, find, on the basis of medical evidence, that you are Totally and Permanently Disabled.  A Participant will be considered Totally and Permanently Disabled if he or she is unable to engage in any substantial gainful activity by reason of any medically determinable, physical or mental impairment which can be expected to result in death or which has lasted or can be expected to last for a continuous period of not less than 12 months, or in the case of a Participant who has attained the age of 55 and is blind, inability by reason of such blindness to engage in any substantial gainful activity requiring skills and abilities comparable to those of any gainful activity in which he or she has previously engaged with some regularity in over a substantial period of time.  The term "substantial gainful activity" refers to work activity as both substantial and gainful.  Substantial work activity involves performance of significant physical or mental duties, or a combination of both, productive in nature.  Gainful work activity is activity for remuneration or profit (or intended for profit, whether or not profit is realized) to the individual performing it or to the persons, if any, for whom it is performed, or of a nature generally performed for remuneration or profit.  In order for work activity to be substantial, it is not necessary that it be performed on a full time basis; work activity performed on a part time basis may also be substantial.  It is immaterial that the work activity of a Participant may be less, or less responsible, or less gainful, than that in which he or she was engaged before the onset of his or her impairment.  The Trustees will determine that a Participant is Totally and Permanently Disabled only if his or her physical or mental impairment or impairments are of such severity that he or she is not only unable to do his or her previous work but cannot, considering his or her age, education and work experience, engage in any other kind of substantial gainful work which exists in the national economy, regardless of whether such work exists in the immediate area in which he or she lives, or whether a specific job vacancy exists for him or her, or whether he or she would be hired if he or she applied for work.

You will not qualify for a Disability Pension if the Board of Trustees determines your disability has resulted from:

o  An injury suffered while engaged in a felonious or criminal act or enterprise; or
o      Service in the Armed Forces of the United States which entitles you within two years of separation from service to a Veteran's Disability Pension.
See also the “Pension Benefits Amounts” tab.
 
Can I Receive More than One Type of Pension?
No. If you are eligible for more than one type of pension, you will be given a choice between the types of pension benefits for which you are eligible.
Additionally, once you have commenced benefits, you will not be allowed to change your pension type for any reason. For example, if you are eligible for both an Early Retirement Pension and a Disability Pension and you chose the Early Retirement Pension, you will not be allowed to change to a Disability Pension after benefits have commenced. A second example, if you commence benefits under an Early Pension and subsequently become disabled, you will not be allowed to change to a Disability Pension.

 

 

 
 

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