Page 22 - Pay'n Save Retirement Truat fund

SOUND RETIREMENT | 20

 You satisfy the eligibility conditions that apply to any early
retirement (see above), and

 During the most recent 5 Plan Years prior to the Plan Year of
your retirement, you have not incurred a break in service and
have earned at least 750 hours during Plan Years beginning
October 1, 2016.
If the 2016 Rehabilitation Plan does not yet apply to you (see
Appendix E) — you are eligible for a standard reduced early
retirement pension if, during the 2 most recent Plan Years prior to
the Plan Year of your retirement, you have not incurred a break in
service.

If you are eligible for early retirement but do not satisfy the two
criteria to receive a Standard Reduced Pension on all of the
benefits you have earned, you will still qualify for a Standard
Reduced Pension on all benefits earned after your most recent
break in service.

Your Standard Reduced Pension Amount

Your standard reduced pension benefit is equal to the portion of
your regular pension benefit you would be eligible to receive at
age 65 on which you have met the Standard Reduced Pension
eligibility requirements, reduced for your age when you begin
receiving payments. This amount is then adjusted again based on
the form of payment you select.

The applicable portion of your regular pension benefit is reduced
by ½ of 1% for each month you are younger than age 63 (but
not younger than age 60), and ⅓ of 1% for each month you are
younger than age 60.