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SOUND RETIREMENT | 74

APPENDIX C:

Meat Employees Hired on or After
July 1, 2014

The Washington Meat Industry Pension Trust (“Meat Plan”)
merged into the Sound Plan effective July 1, 2014. Employees first
hired on or after July 1, 2014 by former Meat Plan employers or
employed in positions formerly covered by the Meat Plan have
the same benefits as those participants under the Sound Plan,
except as provided in this Appendix C.

For the rules on benefits under the Sound Plan on and after
October 1, 2016, refer to the Sound Plan rules from pages 1 to
60.

REGULAR PENSION

Your Regular Pension Amount

For pension benefits earned on or after July 1, 2014 and through
the date that there is a collective bargaining agreement or
special agreement in effect that has adopted a post-merger
Rehabilitation Plan schedule, your regular pension is a monthly
amount equal to 1.35% of the employer contributions credited to
you. For benefits earned on and after the date this schedule is
adopted, your regular pension is a monthly amount equal to 3%
of the employer contributions credited to you that are counted
for purposes of determining benefit accruals. This amount is then
adjusted for the form of payment you select.
QUESTIONS AND ANSWERS

Will I earn a higher Not likely. It is expected that the 3% benefit rate
benefit after July will be applied to a lower amount of contributions to
1, 2014 once my produce the same benefit amount as would have been
employer negotiates produced under the 1.35% formula.
a new agreement?

Is my eligibility affected No. In either case you will earn benefits under
if I transfer from a the provisions of the Sound Plan, provided your
position as a Meat transfer occurred on or after July 1, 2014. The only
employee to one as a difference will be to the regular pension amount
Clerks or Drug employee? you earn and disability eligibility, as described in
this Appendix C.
If your transfer occurred before July 1, 2014, you
are subject to the rules of the Sound Plan or Meat
Plan in effect at the time of your transfer. If this
applies to you, contact the Administrative Office
for details.