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Termination Insurance
Your
pension benefits under this Plan (other than Supplementary Portion benefits) are
insured by the Pension Benefit Guaranty Corporation (PBGC), a federal insurance
agency. If the Plan terminates (ends) without enough money to pay all benefits,
the PBGC will step in to pay pension benefits. Most people receive all of the
pension benefits they would have received under the Plan, but some people may
lose certain benefits.
The PBGC guarantee generally covers: (1) normal and early
retirement benefits; (2) disability benefits if you become disabled before the
Plan terminates; and (3) certain benefits for your survivors.
The PBGC guarantee generally does not cover: (1) benefits
greater than the maximum guaranteed amount set by law for the year in which the
Plan terminates; (2) some or all of the benefit increases and new benefits based
on Plan provisions that have been in place for fewer than 5 years at the time
the Plan terminates; (3) benefits that are not vested because you have not
worked long enough for the Company; (4) benefits for which you have not met all
of the requirements at the time the Plan terminates; (5) certain early
retirement payments (such as supplemental benefits that stop when you become
eligible for Social Security) that result in an early retirement monthly benefit
greater than your monthly benefit at the Plan's normal retirement age; and (6)
non-pension benefits, such as health insurance, life insurance, certain death
benefits, vacation pay, and severance pay.
Even if certain of your benefits are not guaranteed, you
still may receive some of those benefits from the PBGC depending on how much
money the Plan has and on how much the PBGC collects from employers.
Benefits from the Supplementary Portion of the Plan are
not insured by the PBGC because that portion of the Plan is a "defined
contribution" program, not eligible for PBGC insurance.
For more information about the PBGC and the benefits it
guarantees, ask the plan administrator or contact the PBGC's Technical
Assistance Division, 1200 K Street N.W., Suite 930, Washington, D.C. 20005-4026
or call 202-326-4000 (not a toll-free number). TTY/TDD users may call the
federal relay service toll-free at 1-800-877-8339 and ask to be connected to
202-326-4000. Additional information about PBGCs pension insurance program is
available through the PBGC's website on the Internet at http://www.pbgc.gov.
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