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31 | SOUND RETIREMENT

DEFERRED VESTED PENSION

ELIGIBILITY

You are eligible for a deferred vested pension if you leave the
industry after earning a specified number of years of credited
service (including 1 or more years of credited future service). The
years of credited service you are required to earn depends on the
date you left the industry, as shown in the following table.

You are eligible for a deferred vested pension after
If you left the industry…
you…

Before 6/1/73 Â Attained age 45 and completed 10 or more
years of credited service, or
 Completed 15 or more years of credited
service (regardless of age)

Between 6/1/73 and Completed 10 or more years of credited service
9/30/86 and attained early or normal retirement age

On and after 10/1/86 Completed 5 or more years of credited service
and attained early or normal retirement age

Once the 2016 Rehabilitation Plan applies to you (see page 18),
if you meet one of the above service requirements but have not
worked at least 750 hours in Covered Employment in one of the
two consecutive Plan Years before retirement, your deferred
vested pension will be payable when you become eligible for
a regular pension (described beginning on page 16) or a late
retirement pension (described beginning on page 30). See the
rules for early retirement (described beginning on page 18) if you
have not incurred a break in service.

If you retire before the 2016 Rehabilitation Plan applies to you
(see page 18), if you meet one of the above service requirements
but have not worked at least 435 hours in Covered Employment
in one of the two consecutive Plan Years before retirement,
your deferred vested pension will be payable when you become
eligible for a regular pension (described beginning on page 16) or
a late retirement pension (described beginning on page 30). You
may also be eligible for early retirement (described beginning on
page 18) if you have not incurred a break in service.

PENSION AMOUNT

Your deferred vested pension benefit is equal to your regular,
early, or late retirement pension amount, depending on the
type of pension for which you are eligible (see Early Retirement
starting on page 18). This amount is then adjusted for the form of
payment you select.