SECTION 5. CREDITED SERVICE AND PENSION CREDIT

Except for Past Service Pension Credit, Pension Credit is a measure of the hours of “Covered Employment” which is employment for an Employer in a job classification that is covered by a Collective Bargaining Agreement, or Alumni Subscription Agreement, for which the employer is required to contribute to the Plan. Pension Credit is used to determine your vesting status, as explained in Section 6 and Breaks in Service, as explained in Section 7, and to determine the value of your accrued pension benefits, as explained in Section 8.

Credited Service is the same as your Pension Credit, except that, in addition, it includes service for your Employer for which no contributions are required to be made to this Plan, such as contiguous non-covered service. Credited Service is used only to determine your vesting status and Breaks in Service and is not used to determine your benefit accrual. Credited Service and Pension Credit are summarized below.

ALERT: CREDITED SERVICE MAY BE DIFFERENT THAN PENSION CREDIT
A full year of Credited Service is granted for fewer hours than a year of Pension Credit. Furthermore, Credited Service may be granted for employment for which no Pension Credit is granted. Thus, your number of years of Credited Service may be greater than your number of years of Pension Credit.

Topics In This Section

A. Credited Service Explained
B. Past Service Pension Credit Defined
C. Future Service Pension Credit Defined