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In order to receive a pension, the Participant needs to become vested.
   
  What is Vesting?
  How Do I Vest and What is my Normal Retirement Date?
  Qualified Years
  Break in Service
  Vesting Examples

What is Vesting?

Vesting means that the Participant has a right to a Pension Benefit. Under the Plan, a Participant is either fully vested or not vested at all; there is no partial vesting in Pension Benefits.

Once a Participant is vested, the Participant’s benefits cannot be taken away even if:

  • The Participant stops working in covered employment, and
  • Never works in covered employment again.

Also once the Participant is vested, the Participant will be eligible to receive a retirement benefit when the Participant meets the age requirements. Please see Retirement for more information on retirement benefits.

 

 

   
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