Disability Early Retirement Factors

The reduction factors in the table below apply to all Disability Pensions payable on and after August 1, 1998.

A participant may retire on a Disability Pension if he:

  1.       meets the Planís General Eligibility requirements,

  2.       has at least 10 years of pension credit,

  3.       is Totally and Permanently disabled as defined in the Plan, and

  4.       is actively engaged in Covered Employment at the onset of his disability.

In order to be considered Actively Engaged in Covered Employment, a participant must earn a minimum of 18 months of pension credit in the 36-month period immediately preceding the onset date of his disability. The Trustees accept as proof of total and permanent disability a determination by the Social Security Administration that the participant is entitled to a Social Security Disability benefit.

The amount of the Disability Pension is equal to the participantís vested benefit amount payable at 64 multiplied by the factor shown in Column 3 that corresponds to his age at the commencement date of his pension. (Note: The reduction factor remains at 50% for all retirement ages under 51.)

Table 5

Early Retirement Age   Percentage Reduction Percentage Payable
64 0% 100%
63 0% 100%
62 0% 100%
61 0% 100%
60 0% 100%
59 0% 100%
58 10% 90%
57 18% 82%
56 26% 74%
55 34% 66%
54 39% 61%
53 45% 55%
52 50% 50%
51 and Younger 50% 50%

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