What is Pension Service?
Future Pension Service refers to service you receive for time for which your employer is required, by the terms of a collective bargaining agreement, to contribute to the pension plan. In addition, you may be granted Past Pension Service for certain times for which contributions were not required in accordance with prior plan provisions. 18. Why is Pension Service important? Pension Service is important in determining your eligibility for an Early or Disability Pension and in calculating the size of all your benefits. 19. How do I earn Future Pension Service? You earn Future Pension Service at the rate of one-seventh of a year of Future Pension Service for each 100 hours in a plan year for which your employer is required to contribute for you to the plan. Future Pension Service can be earned only while you are a participant in the plan. You will be credited with no Future Pension Service for any plan year during which you earn less than one-seventh of a year of Future Pension Service.
