Defined Benefit Pension Plan
Your right to pension benefits under the Defined Benefit Plan depends upon how many years of Vesting Credit you have earned. You earn Vesting Credit by performing employment for participating employers in positions for which contributions are required to be made to this Plan.
All Employees shall be eligible for participation as of the first day of the Plan Year during which they are employed under a Collective Bargaining Agreement of U.A. Local No. 467 requiring payment into this Trust Fund and apprentices eligible to participate immediately upon enrollment in the Apprentice Training Program.
Qualification for Pension
A. Normal Retirement. An Employee shall qualify for a Normal Retirement pension to commence on the first day of the calendar month following the month upon which he meets any one of the following requirements:
- 1.The attainment of age sixty-five (65) with a vested interest and the Employee’s separation from Industry Service in California; or
- 2.The attainment of age sixty-five (65) and the tenth (10th) anniversary of the Employee’s first participation in the Plan without a permanent break in service, or a temporary break in service then in effect, regardless of his years of Vesting Credit, and the Employee’s separation from Industry Service in California. Effective as of January 1, 1998, the “fifth anniversary” is substituted for the tenth anniversary.
B. Early and Service Retirements. An Employee shall qualify for an Early Retirement pension to commence on the first day of the calendar month following the month in which he meets any one of the Reduced (and Unreduced) Early Retirement requirements.
C. Evidence of Disability. Notwithstanding the above, the Board of Trustees may require any Employee receiving Disability Retirement benefits to submit evidence of continuing to have a qualifying disability. Disability Retirement benefits may be terminated if an employee fails to provide evidence on request, or if the Board of Trustees, in the Board’s exclusive discretion, determines that the Employee is no longer totally and permanently disabled.