Defined Benefit Pension Summary Plan Description

Re-Retirement and Recalculation of Pension

A retired Participant that returns to Covered Employment can re-retire and receive an additional pension benefit if the retiree:

  1. Has worked at least 750 hours in one (1) Plan Year since the date of retirement; or
  2. Has worked at least 1,500 hours since the date of retirement.

If a retired Participant does not have sufficient hours in a Plan Year to meet the 750-hour requirement, hours can be carried over to the next Plan Year.

The earliest effective date for resumption of your pension benefit will be the later of:

  1. the first day of the month following the last month for which benefits are suspended; or
  2. the day that is 12 months prior to the date that you notify the Administrator of the cessation of Suspendible Employment.

Retroactive Pension Payments

When your re-employment has ended, you must contact the Trust Fund to reinstate your suspended benefit. You may be eligible to receive retroactive payments. But retroactive payments can only be made for 12 months prior to the date you contact the Administrative Office, so you should notify the Administrative Office as soon as possible after you end Suspendible Employment.

Retroactive payments are made in the same form as previously elected.

Re-Calculation and Adjustment of Benefits

After you return from Suspendible Employment, your pension benefit may be recalculated to include additional pension benefits that you became entitled to during your period of suspension.

If your period of suspension begins prior to your Normal Retirement Age, any additional benefit will be payable as a separate annuity. You will need to file a new application and select an optional form for this additional benefit.

If your period of suspension begins after your Normal Retirement Age, any additional benefit will be paid in the form you originally elected. If a Joint and Survivor form had been elected but the Spouse is no longer living, then benefits will be paid for your life only. If you have remarried, you will need to select an optional form for your additional benefit.

If your Early Retirement Benefit was reduced prior to suspension, your benefit upon resumption will be actuarially adjusted to assure that your recalculated benefit is at least the actuarial equivalent of your Normal Retirement Pension.

If you had elected one of the Social Security Adjustment Options and your benefit was suspended, your benefit will be actuarially adjusted.

In no event will your benefit be suspended beyond your Mandatory Commencement Date, unless you elect to defer receipt of your benefits, are working in Covered Employment and are not a 5% owner of an Employer.