Recaptured Vesting and Benefit Service Program Extended

Participants (including retirees) who work at least 500 Contributory Hours in one of the six Plan Years beginning July 1, 2001, 2002, 2003, 2004, 2005 or 2006 will be eligible to recapture any previously forfeited Contributory Vesting and Benefit Service on a "dollar for dollar" and an "hour for hour" basis. Recaptured service is credited in the Plan Year that the recapture occurs, not the Plan Year of the earlier forfeiture.

Forfeited Past Benefit and Past Vesting Service are not eligible for recapture. Service before you established Participation is eligible for recapture, if there is no intervening Break-in-Service.

In order to trigger the recapture, you must work at least 500 Contributory Hours in one of the qualifying Plan Years. Recaptured hours do not count toward the 500 Contributory Hours to trigger the recapture.

Recaptured Vesting and Benefit Service does not count toward:

  • The 5 Contributory Years of Service and the 10,000 Contributory Hours earned after June 30, 1990, that are required to qualify for a Qualified Retirement or Early Retirement benefit under the Overlay and Rule of 80 Retirement Benefit programs;
  • The 1,000 Contributory Hours earned after June 30, 1997 that triggers the Overlay;
  • The 1,000 Contributory Hours required to qualify for the Rule of 80 Program;
  • The 1,500 Contributory Hours that are required to qualify for a Disability Retirement Benefit; or
  • The 1,500 Contributory Hours required in either the consecutive three Plan Year period after you reach age 49 or the 36 months after you reach age 49 and before you retire, to qualify for retirement benefits at or after age 60.

In addition, the recaptured amount will be reduced by the value of any amounts you received or may receive pursuant to a court-approved settlement, judgment or order.