Page 90 - Pay'n Save Retirement Truat fund

SOUND RETIREMENT | 88

As a former Your regular pension earned under the Sound Plan is
participant in the based on the benefit you earn between July 1, 2014
Meat Plan, how is and the date you retire or are no longer covered under
my regular pension the Sound Plan.
determined?
At retirement, your total pension benefit payable
from the Sound Plan will be your Meat Plan benefit
earned through June 30, 2014 (excluding any benefits
transferred to the Consolidated Plan as a Kroger
related participant), plus your Sound Plan benefit
earned on and after July 1, 2014. Because the formula
that applies to you is equivalent to the Meat Plan
formula prior to the merger, the only difference in how
your regular pension is determined is the adjustment
factors used when you select a form of payment.

If I satisfy the rule of If you are eligible and retire before age 55 under the
85 and retire before Meat Plan Rule of 85, you can begin receiving your
age 55, am I eligible benefit earned under the Meat Plan through June
to receive my 30, 2010 right away as long as you have not had a
pension benefits right break in service before your retirement date. Once
away? you attain age 55, you can begin receiving pension
benefits earned under the Meat Plan on or after July 1,
2010, if any, as well as any benefits earned under the
Sound Plan on or after July 1, 2014. These benefits will
be adjusted by the Early Retirement Pension factors
described beginning on page 77 and beginning on
page 18 (respectively).
How do the vesting The hours threshold for earning a year of service
and service crediting credit is higher under the Sound Plan than it was
rules differ? under the Meat Plan. Under the Sound Plan you
must now work 750 or more hours to earn a credit
as opposed to the 360 or more while you were
covered under the Meat Plan. There are special rules
that apply to the period October 1, 2013 through
September 30, 2014 and July 1, 2014 through June
30, 2015. To avoid a break in service year, you need
to earn more than 500 hours under the Sound Plan
(versus 360 hours under Meat Plan). See page 11 for
more details.

If I am a Kroger Only the benefits you earn in the Sound Plan on or
related participant after July 1, 2014 will be paid from the Sound Plan.
whose Meat Your transferred Meat Plan benefit will be paid from
Plan benefit was the Consolidated Plan. Note, your Meat Plan service
transferred to the will continue to apply toward your eligibility for
Consolidated Plan, benefit earned after June 30, 2014 that are payable
how will my benefits from this plan. (Contact the Administrative Office
be paid? at (206) 282-4500 or (800) 225-7620 for more
information.)