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3.9 Pro-Rata/Partial Pension
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Partial pension benefits are provided under this Plan to certain Employees
who would otherwise lack sufficient service credit to be eligible for pension
benefits because their years of employment have been divided between pension
plans. If another pension plan has been recognized by the Trustees of this
Plan as a Related Plan, an Employee will receive a Pro-Rata/Partial Pension
under this Plan and/or the Related Plan based on his or her service under
both Plans, if he or she meets the requirements of this Section and/or the
corresponding requirements for a Pro-Rata/Partial pension of the Related Plan.
- "Related Plan" means a pension
plan, duly recognized by the Trustees as such, with which the Trustees have
entered into an agreement for Pro-Rata/Partial Pensions. This Section 3.9
shall apply only to pensions that are first effective on or after the effective
date of said Agreement with the Related Plan. This Section shall not apply
to anyone already receiving a pension from this Plan or from the Related Plan
on or before the effective date of said Agreement with the Related Plan. This
Section shall also not apply to any service under a Related Plan after the
termination of said Agreement with the Related Plan.
- For purposes of this Section
3.9, an Employee's Hours of Future (Contributory) Service under the Related
Plan, excluding any Hours of Service as may be recognized by the Related Plan
under one (1) or more other similar but separate agreements, shall be recognized
under this Plan, but only for the purposes of vesting and determining eligibility
for the Pro-Rata/Partial Pension provided for in this Section. Such Hours
of Future Service shall be only those hours remaining after the completion
by both Plans of money-follows-the-man reciprocity. Hours of Past (Noncontributory)
Service under the Related Plan shall not count for any purpose under this
Section 3.9. Hours of Service under the Related Plan that are duplicative
of Hours of Service earned under this Plan and Hours of Service under the
Related Plan after the termination of said Agreement with that Plan, shall
also not count for any purpose under this Section 3.9.
- Such Hours of Future Service
under the Related Plan shall not count for the purpose of accruals in determining
the amount of benefits under this Plan, but such Hours shall be counted as
Covered Employment for avoiding the provisions of Section 3.5 of this Plan
with regard to the effect of a Break In Service.
- An Employee shall be eligible
for a Pro-Rata/Partial Pension under this Plan upon satisfaction of all the
following requirements:
- the Employee is not otherwise
eligible for a pension under this Plan,
- the Employee has earned,
after the completion of money-follows-the-man reciprocity, at least one
(1) year of Future Service Credit under this Plan without counting any
Service under a Related Plan and without regard to any Breaks In Service.
- the Employee would be eligible
for any type of pension under this Plan if the Hours of Future Service
recognized under this Section 3.9 are treated as Hours of Service under
this Plan; provided, however, that no more than one (1) year of Pension
Credit shall be granted for any calendar year and no additional Pension
Credit shall be granted for the same hours recognized by both Plans,
- the Employee has earned,
after the completion of money-follows-the-man-reciprocity, at least a
partial year of Future Service Credit in at least one of the Fund's signatory
to the National Pension Fund's standard money-follows-the-man reciprocal
agreement during at least one (1) of the five (5) calendar years prior
to the Employee's Effective Date.
- The amount of the Pro-Rata/Partial
Pension under this Plan shall be determined solely on the basis of the Employee's
Future Service Credit under this Plan without regard to any Hours of Service
under a Related Plan and without regard to any Past Service Credit under this
Plan. Payment of a Pro-Rata/Partial Pension shall be subject to all conditions
applicable to other types of pensions under this Plan, including, but not
limited to, retirement as defined herein and timely application.
