C. Motor Shop Benefits
The Motor Shop Agreement was effective as of June 1, 1962. A year of Pension Credit is granted for each 1,500 hours of Pension Credit and a month of Pension Credit for each 125 hours of Pension Credit.
The benefit level that applies to your situation is subject to the Separation from Employment provision explained in sub-Section E. and may also require a minimum of 2,000 hours after a specific date.
The following represents the benefits payable for retirements occurring on or after January 1, 1984, unless they were frozen at a prior level as a result of a Separation from Employment.
| MOTOR SHOP BENEFITS TABLE |
| RETIREMENTS ON OR AFTER |
$ PER PENSION CREDIT/MINIMUM PENSION CREDIT HOURS REQUIREMENT |
| 01.01.84 |
$11.50 |
| 01.01.85 |
$12.00 – Requires at least 2,000 hours after 6/1/81 |
| 01.01.87 |
$16.00 – Requires at least 2,000 hours after 6/1/83 |
| 01.01.90 |
$20.00 – Requires at least 2,000 hours after 6/1/86 |
| 01.01.91 |
$22.00 – Requires at least 2,000 hours after 6/1/87 |
| 01.01.93 |
$27.00 – Requires at least 2,000 hours after 6/1/89 |
| 01.01.94 |
$29.00 – Requires at least 2,000 hours after 6/1/90 |
| 01.01.96 |
$31.50 – Requires at least 2,000 hours after 6/1/92 |
| 01.01.97 |
$35.00 – Requires at least 2,000 hours after 6/1/93 |
| 01.01.98 |
$40.00 – Requires at least 2,000 hours after 6/1/94 |
| 01.01.00 |
$50.00 – Requires at least 2,000 hours after 6/1/96 |
| 01.01.01 |
$55.00 – Requires at least 2,000 hours after 6/1/97 |
The benefit level that applies to your situation is subject to the Separation from Employment provision explained in Subsection E below and may also require a minimum of 2,000 hours after a specific date.
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