Summary Plan Description

Vested Retirement

You will be eligible for the Vested Retirement Benefit if your right to a benefit with the Plan is "vested." You will become vested with the Plan upon (1) the completion of 10 Years of Participation in the Plan since your last Break-in-Service Date; or if you are not covered under a collective bargaining agreement not earlier than the completion of 5 Years of Participation since your last Break-in-Service Date; or (2) if you earned service on or after January 1, 1997, the completion of 5 Years of Participation since your last Break-in-Service Date; or (3) if you earned service on or after January 1, 1999, the completion of 3 Years of Participation since your last Break-in-Service Date.

When you are vested with the Plan, you have the right to receive a future pension benefit if you leave the Plan before retiring.

The benefit options available when you retire with a Vested Retirement Benefit are the same as if you had retired Normally with the Plan. The amount of your monthly pension is determined by the Unit Multiplier for your Employer's Contribution Rate Schedule when you left the Plan, your years of Credited Service, the 2% penalty if applicable to you, and the type of benefit selected.

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