> Eligibility, Credits and Vesting
Your membership in the Pension Plan will begin on the first “entry date” that occurs after you’ve worked at least 140 hours in covered employment for 12 consecutive months. The Plan has two entry dates—January 1 and July 1.
Pension credits are used in determining how much your benefit will be at retirement. You earn credits by working in covered employment. You continue to earn pension credits until you stop working or retire.
In order to receive a pension benefit, you must be vested in the Plan. Once you are vested, you are guaranteed a pension—even if you leave covered employment—at normal retirement age. Normal retirement age is the later of age 62 or the fifth anniversary of your participation in the Plan.
You are credited with one year of vesting service for each Plan Year (January 1 — December 31) in which you work at least 840 hours in covered employment. Once you have earned five years of vesting service, you are vested in the Pension Plan.