Page 21 - Pay'n Save Retirement Truat fund

19 | SOUND RETIREMENT

 The date after your collective bargaining agreement that was
in effect on October 1, 2016 expires and no new agreement is
adopted within 180 days.

Effective Dates

The rules for early retirement pension changed under the 2016
Rehabilitation Plan. See above for an explanation of when the
2016 Rehabilitation Plan applies to you.

 If you are a terminated vested participant as of September 30,
2016, these rules will apply to retirements on or after October
1, 2016.
 Please contact the Administrative Office for the early
retirement details that applied to you if you retired prior to
October 1, 2016.

Eligibility for All Early Retirement Pensions
For any early retirement, you must satisfy all of the following
eligibility criteria:

 You are at least age 55, but not yet age 65, and
 6 months have elapsed since your effective date of coverage,
and
 You have at least 5 years of credited service, including 1 or
more years of Credited Future Service, and
 You are not considered a terminated vested participant when
you retire.
Effective October 1, 2016, you are not considered a terminated
vested participant at the time of your retirement if you earn 750
or more hours of credit during the Plan Year of your retirement
or the Plan Year prior to your retirement. If you did not incur
a break in service in the last Plan Year prior to the Plan Year in
which you retire and the 2016 Rehabilitation does not yet apply to
you when you retire (see Appendix E), then you will also not be
considered a terminated vested participant

Each of the Plan’s early retirement pension types are described in
the following sections.

STANDARD REDUCED PENSION

Eligibility

Once the 2016 Rehabilitation applies to you, you are eligible for a
standard reduced early retirement pension on all of your benefits
if: