ARTICLE V
PAYMENT OF INDIVIDUAL ACCOUNTS AT RETIREMENT

Section 2: Early Retirement Date.

1. A Participant may elect to retire early under this Plan if he has commenced receiving early retirement benefits under the Southern California IBEW-NECA Pension Plan and has severed all employment with all Contributing Employers through the date of distribution of his or her Individual Account. A Participant who does not elect to apply for early retirement benefits under the Southern California IBEW-NECA Pension Plan is not eligible for a distribution of benefits under the Defined Contribution Plan unless he satisfies the criteria of Article VI, Section 1.
2. A Participant who is not a Participant in the Southern California IBEW-NECA Pension Plan, may also retire early if he has attained age 55 and earned 15,000 Covered Hours under the Defined Contribution Plan. A Participant's Early Retirement Date is the first day of any month coinciding with or following attainment of early retirement eligibility, and severance of all employment with all Contributing Employers through the date of distribution of his or her Individual Account.