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Defined Contribution Plan Document
FORFEITURES AND VESTING
Section 3: Vesting.
- The Individual Account of each Covered Employee who is a Participant
in the Southern California IBEW-NECA Pension Plan (Defined Benefit
Plan) on July 1, 1985 will automatically be vested.
- Except as provided in paragraph C below, each other Covered Employee
shall become 100% vested in his Individual Account upon the completion
of 300 Covered Hours in two consecutive Plan Years. Once the
Individual Account is vested, it shall remain vested regardless of any
subsequent termination of employment or partial distribution of his
account. Hours of Uncovered Vesting Employment under Section 4(c)
shall be considered in determining whether a Covered Employee is
- The Individual Account of each Covered Employee who works one or a
partial Covered Hour on or after July 1, 2002 shall be 100% and