What are the requirements for becoming a Participant in the Cement Masons Pension Plan?
Article 2 of the Pension Plan provides that an Employee becomes a Participant on August 1 or February 1 next following a 12-consecutive month period during which at least 300 hours in Covered Employment or Continuous Non-Covered Employment with a Contributing Employer were worked. An easy example is that of an Employee who first starts working in Covered Employment on February 1, 1998. If a total of 800 work hours are accrued by January 31, 1999 (a full 12 months later), the employee would then become a Participant on February 1, 1999. Once an Employee becomes a Participant, Credited Service and Benefit Units are received for those hours worked before becoming a Participant.
