PENSION PLAN OVERVIEW
You become an "active" participant in the Pension Plan at the end of the Plan Year (May 1 - April 30) in which you work in Covered Employment for 800 hours or more.
|Credited Hours in a Plan Year||Credited Service Earned in a Plan Year|
|Less than 200 Hours||None|
|200 to 399 Hours||1/4 year Credit|
|400 to 599 Hours||1/2 year Credit|
|600 to 799 Hours||3/4 year Credit|
|800 or more Hours||1 year Credit|
Pension Accrual Rates for May 1, 2021 to April 30, 2022 Plan Year
$90 / 1,000 Hours
- For Class I, III, and Class V Employment Classes
$85 / 1,000 Hours
- For Class IV Employment Class
$60 / 1,000 Hours
- For Class II Employment Class (Cabinet & Mill)
Please note: Accrual rates may vary based on respective Collective Bargaining Agreement and/or apprentice level.