Glossary and Terms

Accrued benefit/pension:
The amount of your pension, based on your accumulated years of service and your employer's contribution rate through 1999, or based upon a percentage of the contributions made on your behalf by you employer(s) in 2000 and thereafter.

Break in Service:
If you separate from Covered Employment before attaining Vested Status you may incur a permanent Break in Service. The result of a Break in Service is the loss of all Pension Credit earned prior to the date of the break.

Contributing Employers:
Employers who have agreed under a collective bargaining agreement to contribute to the National Pension Fund to fund participants' pension benefits.

Contribution rate:
The hourly contribution your employer remits to the Plan for the hour(s) you work or are paid, to fund your pension benefit.

Certain Pension - Years/Month/Period:
A pension paid for your lifetime with a guaranteed minimum number of payments. In the event of your death, payments are made to your beneficiary if you should die before the guarantee has been met.

Defined benefit pension plan:
A benefit Plan which provides you a known, guaranteed benefit at retirement based on a formula which typically includes a set dollar amount for each year of service

DRO:
Domestic Relations Order.

Early Retirement age:
The age at which you can retire before Normal Retirement and collect a pension benefit. This benefit is reduced to adjust for the greater number of pension payments you will more than likely receive.

Future Service credit:
Credit you earn while employer contributions are made to the Plan on your behalf

Hours Worked:
The actual number of hours you worked.

Hours Paid:
The actual number of hours you were paid for which may include overtime pay.

Husband and Wife benefit:
A reduced benefit paid to you for your lifetime, with a continuing lifetime benefit paid to your spouse for his or her lifetime after your death.

Normal Retirement age:
The age, at which you can retire and collect an unreduced pension benefit, which is age 65.

Past Service credit:
Credit for time you work before employer contributions are made to the Plan on your behalf, which counts toward the amount of your pension benefit.

Pension Credit Statement:
Generally issued by June of each year, this statement provides a recap of the hours and contribution information for the previous year along with a summary of the future service credits earned. It is only issued to persons with hours-worked in covered employment during the previous year.

Pension Fund:
The Trust Fund responsible for collecting and investing contributions and for paying benefits

Portability:
The ability to continue your credited service, vesting service, and accrued benefit under the Plan from one contributing employer to another

QDRO:
Qualified Domestic Relations Order.

Vested Status:
Pension benefit which you have an irrevocable right to receive

Year of Service:
A measure of service, 870 hours per year, which counts toward vesting or eligibility for a benefit