Our Office is open on an appointment-only basis.

Can you provide more specifics about when a participant becomes pension eligible?

General rule

The normal retirement date shall be the first day of the month following the employee’s sixty-fifth (65th) birthday at which date the employee shall be 100% vested in his retirement allowance.

Early Retirement

Options for retirement prior to age 65 depend on when the employee was first hired, as follows:

Hire Date When You're Eligible for Retirement Benefits
On or before 9/5/01
  1. Unreduced pension at any age if the employee retires on or after the first of the month after completion of 25 years of continuous service (Plan Section 10.2)
  2. Reduced pension1 after age 55 upon completion of 3 years of continuous service (Plan Section 10.1)
After 9/5/01 but
Before 1/18/08
  1. Unreduced pension if the employee retires on or after the first of the month after age 55 with 25 years of continuous service
  2. Reduced pension1 after age 55 upon completion of 3 years of continuous service (Plan Section 10.1)
On or after 1/18/08
  1. Unreduced pension if the employee retires on or after the first of the month after age 64 with 25 years of continuous service. (Plan Section 10.2)
  2. Reduced pension1 after age 55 upon completion of 10 years of continuous service (Plan Section 10.1)

1The retirement allowance is reduced by 5% for each year or fraction of a year below age 65. (Plan Section 10.2)