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Register for New Participant PortalDefined Benefit Pension Plan Document
Important Note:
Notwithstanding any information in these Plan Document pages or embedded links, for retirements that are first in pay status on or after April 1, 2017, certain Defined Benefit Plan provisions are scheduled to change in accordance with the adoption of Alternative Schedules 1 or 2 under the Second Critical Status Rehabilitation Plan.
Notwithstanding any information in these Plan Document pages or embedded links, for retirements that are first in pay status on or after April 1, 2017, certain Defined Benefit Plan provisions are scheduled to change in accordance with the adoption of Alternative Schedules 1 or 2 under the Second Critical Status Rehabilitation Plan.
ARTICLE 12 - SPECIAL PROVISIONS
12.1 The provisions of Article 12 shall apply only to Participants who were covered under this Plan on July 1, 1976.
12.2 Retirement Date. The Normal Retirement Date for said Participant shall be the earlier of (a) or (b) as follows:
- The Normal Retirement Date determined pursuant to Article 3 of this Plan, or
- The Normal Retirement Date determined under the Plan as it existed on June 30, 1976.
12.3 Normal Pension Benefit. The Normal Pension Benefit for said Participant shall be the greater of (a) or (b), as follows:
- The Normal Pension Benefit as determined under this Plan, or
- The Normal Pension Benefit accrued through June 30, 1976, under the Plan as it existed on that date.
12.4 Vested Benefit on Termination of Coverage.
- The vested rights at any time after June 30, 1976, of said Participant, who was a Covered Employee on July 1, 1976, shall be the greater of (1) or (2) as follows:
- Vested rights as determined under Article 6 of this Plan, or
- Vested rights as determined under the vesting provisions of the Plan as it existed on June 30, 1976.
- The vested rights of said Participant, who was a Vested Employee on June 30, 1976, and who does not become an Active Participant under this Plan after June 30, 1976, shall continue to be the same vested rights he had as of June 30, 1976.
- The vested rights of said Participant, who was a Vested Employee on June 30, 1976, and who does become an Active Participant under this Plan shall be computed according to Article 6 of this Plan. In no event, however, shall his future vested benefit be less than the vested benefits he had as of June 30, 1976.
This section modified by: Amendment 8. View Previous Language.
12.5 Disability Benefit (only applies for annuity starting dates prior to April 1, 2017). The commencement date for monthly disability benefit payments to said Participant, who was a Covered Employee on July 1, 1976 and prior to April 1, 2017, shall be determined as of the earlier of (a) or (b) as follows:
- The date disability payments would commence pursuant to Article 7 of this Plan, or
- The date disability payments would commence under the Plan as it existed on June 30, 1976.
12.6 Contributions Made to the Plan Under a Salting Agreement. Any and all contributions transmitted to the Pension Trust Fund pursuant to a duly executed Salting Agreement between the Participant and a sponsoring IBEW Local Union to this Plan or any other Related IBEW Local Union shall be accepted by the Trustees and benefits shall be accrued under the Plan by the Participant on whose behalf such contributions were made. Services or employment performed by a Participant pursuant to a duly executed Salting Agreement shall not constitute Non-Covered Electrical Employment as described in Section 1.16. No grace period shall be applied during any period in which a Participant was working under a duly executed Salting Agreement.
12.7 All provisions of this Article are subject to the limitations and restrictions of Article 17 which govern benefits first commencing on and after October 28, 2009.