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Vesting

Effective 1-1-1989: A Participant who has accumulated 5 or more years of Vesting Service (including one Hour of Service after 1988) has non-forfeitable benefits and credits.

 

Vesting Service

Prior to 1-1-1976: Same as Total Service

1-1-1976 and later: 1,000 Hours of Service = 1 Year

 

Total Service

Past Service plus Future Service
See Unit Seniority Exception
Credit for Non-Working Periods

 

Past Service

Prior to 2-1-1963, years and months of continuous employment with ABC (and certain other subsidiary employers in accordance with the bargaining agreement) in eligible bargaining unit employment

 

Future Service

2-1-1963 to 12-31-1975: 20 pay periods in eligible bargaining unit employment in a Plan Year = 1 Year (for less than 20 pay periods, 0.1 year credit for each 2 complete pay periods)

1-1-1976 to 12-31-1987: 1,000 Hours of Service in eligible bargaining unit employment = 1 Year (if less than 1,000 hours credited in a year, 0.1 year credit for each full 160 Hours of Service, up to a maximum of 1 year of credit).
See table.

1-1-1988 and later: 1,000 Hours of Service in eligible bargaining unit employment = 1 Year (if less than 1,000 hours credited in a year, 0.1 year credit for each full 190 Hours of Service in eligible bargaining unit employment - up to 949 Hours; 0.5 year credit for 950-959 Hours; 0.6 year credit for 960-999 Hours). See table.

See WMAL Exception

 

One Year Break-in-Service

Non-Vested Participant with less than 190 Hours of Service in a Plan Year. Pension credit is canceled (subject to reinstatement prior to a Permanent Break-in-Service).

 

Permanent Break-in-Service

Effective 1-1-1986: Non-Vested Participant with consecutive One Year Breaks-in-Service that equal or exceed the greater of 5 years or years of Vesting Service. Previous pension credits are permanently forfeited and Participation is canceled.

 

Note: The provisions summarized above relate to the Company-funded benefits under the Plan, as provided for in the Plan as of February, 2015. The Plan may be amended or terminated at any time, and future benefit accruals (if any) may be different from those that previously applied. In the event of any conflict between the terms of this summary and the Plan document, the terms of the Plan document will control.


   

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