Vesting for the Plan is as follows:
The Plan has adopted a five (5) year cliff vesting. You are
100% vested after five (5) years. Prior to this time, you are building towards
vesting at 100%.
Upon reaching the five (5) years vesting, your benefit can
never be lost. You will have a pension benefit due you at the retirement age set
by the Plan.
Other Factors:
(a) No vesting service shall be deemed to have accrued prior
to June 1, 1968.
(b) After May 31st, 1968, vesting service shall accrue at the
rate of one (1) year of vesting service for each Plan year in which a person
accrues 870 or more hours and at the rate of one-half (1/2) year of vesting
service for each Plan year in which a person accrues less than 870 hours of
service but more than 434 hours of service.
(c) Only the following hours of service shall be recognized:
(1) hours of service completed while working in covered employment; and
(2) hours of service completed while not working in covered employment but while working within the geographical jurisdiction of a participating local for a contributing employer.
Phone: 906-226-2414
Fax: 906-226-2221
Email:
thogan@chartermi.net
Office Manager: Tracy Thomann
Assistant Administrator: Tom Hogan
Pension Plan Office Location:
130 W. Washington St. Suite L9
Marquette, MI 49855