This section addresses common questions and answers about rules and regulations governing the Plan.
Frequently Asked Questions
Q. | How is my vested status related to my Vesting Service? |
A. |
If you have a Break in Service after April 30, 1992, your Retirement Benefits earned to date will be 100% vested if you earned five or more years of Vesting Service and/or Minimum Vesting Service (including Past Service). If you earned fewer than five years of Vesting Service, your Retirement Benefits are 0% vested. Vesting refers to your right to receive benefits earned under the Shops Plan without the possibility of forfeiture. You also are 100% vested if you are working in Shops and Mills Covered Employment (or Carpenters’ Plan Covered Employment) when you are at least 62 years old, provided you have earned 400 hours of service. Vesting Service also is used for other purposes under the Shops Plan besides determining your vesting (such as for determining your eligibility for Early Retirement Benefits). [Sections 4.2 and 4.6] |
Q. | Suppose I transfer to Shops and Mills Non-Covered Employment with an employer under the Plan? |
A. | If you were not vested in your benefits when you transferred to Shops and Mills Non-Covered Employment with an employer under the Shops Plan, then you may become vested in your benefits from this Plan based in part on credit for Non-Covered Employment. You will be 100% vested if you have 10 years of Minimum Vesting Service, regardless of how much Vesting Service you earn. Non-Covered Employment does not increase the amount of your pension benefit. Contact the Pension Office for more information about this. [Section 3.5] |
Q. | Suppose I transfer to a job in the trade in another part of the country? |
A. | If you obtain employment in another jurisdiction covered by a pension fund that participates in a formal pro rata Pension Credit agreement (a reciprocity agreement) with the Plan or is signatory to the International agreement providing similar transfer of credit, Pension Credit earned under that plan will be recognized under the Shops Plan for vesting purposes. You may earn additional benefit amounts in this Plan for service earned under the other plan, depending on the terms of the applicable reciprocity agreement. Contact the Pension Office for more information about this. [Sections 3.6 and 3.7] |
Q. | What happens if I return to Covered Employment after an absence for military service? |
A. |
If you leave Covered Employment to serve in the military or for military training, and you return to Covered Employment while your reemployment rights are protected under the Uniformed Services Employment and Reemployment Rights Act of 1994 (USERRA), your time in the military will count for eligibility, vesting and benefits as if you had remained in Covered Employment in accordance with policies and practices set forth by the Board of Trustees. However, to receive credit for this service you must:
The total length of your absence and all previous absences by reason of military service cannot be longer than five years. There are limited exceptions to this rule. You are responsible for complying with the requirements for reemployment in a timely fashion. Contact the Pension Office for specific information about your particular situation. [Section 1.10] |