Rehabilitation Plan – Effective July 1, 2011

    • Normal Retirement remains:
      • age 65 with 5 years of service
    • Unreduced Early Retirement becomes:
      • Age 63 with 30 years or 60,000 hours
      • Age 60 with Rule 85, for those groups participating in the Rule of 80
        • Minimum 10,000 surcharge hours required to qualify
        • 1,000 hour Currency
    • Reduced Early Retirement remains:
      • Age 52 with actuarial equivalent reductions
    • Limited Grandfathering applies to those Participants who have qualified for any Early Retirement by December 31, 2011, for benefits earned through that date.

      They include those who are:

      • At least age 60 with 10 years of service or 20,000 hours and currency
      • At least age 57 with 25 years of service or 50,000 hours
      • At least age 50 and qualified for Rule of 80 provision

Under the limited Grandfathering provision, Participants who meet the above qualifications by December 31, 2011 may retire and receive those benefits earned through December 31, 2011 without early retirement reductions at any time after December 31, 2011. Benefits earned after December 31, 2011 will be earned under the new criteria.

rehabilitation plan – effective july 1, 2011

Normal Retirement remains: age 65 with 5 years of service Unreduced Early Retirement becomes: Age 63 with 30 years or 60,000 hours Age 60 with Rule 85, for those groups participating in the Rule of 80 Minimum 10,000 surcharge hours required to qualify 1,000 hour Currency Reduced Early Retirement remains:…