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How Are Service Credits Earned For Employment After December 31, 1975
You will be credited with one year of service for each full
Plan Year of your bargaining unit employment. A Plan Year in which you have
completed at least 1,000 hours of service as a covered employee will be counted
as a full year of service.
For periods after December 31,
1975 and prior to January 1, 1988, proportional credit will be given for fewer
hours of service as a covered employee in a Plan Year as follows:
|
Hours
of Service
in Plan Year
|
Year
of Future
Service Credit
|
|
Less
than 160
|
None
|
|
160 but
less than 320
|
0.1
|
|
320 but
less than 480
|
0.2
|
|
480 but
less than 640
|
0.3
|
|
640 but
less than 800
|
0.4
|
|
800 but
less than 960
|
0.5
|
|
960 but
less than 1,000
|
0.6
|
|
1,000
or more
|
1.0
|
Effective
January 1, 1988, you will be credited with 190 hours of service for
each calendar month in which you earn at least one hour of service. You will
be credited with a full year of Future Service if you are credited with at least
1,000 hours of service as a covered employee during the Plan Year. Proportional
credit will be given for fewer hours of service as a covered employee in a Plan
Year as follows:
|
Hours
of Service
in
Plan Year
|
Year
Of Future
Service Credit
|
|
Less than 190
|
None
|
|
190 but less than 380
|
0.1
|
|
380 but less than 570
|
0.2
|
|
570 but less than 760
|
0.3
|
|
760 but less than 950
|
0.4
|
|
950 but less than 960
|
0.5
|
|
960 but less than 1,000
|
0.6
|
|
1, 000 or more
|
1.0
|
Employees of WMAL, Inc. who were covered by a collective
bargaining agreement between the Company and the Union as of March 4, 1977 became
participants in this Plan on March 4, 1977. Such participants and individuals
who became employees after March 4, 1977 are credited with Future Service on
or after March 4, 1977 in accordance with a letter of understanding and agreement
between the Company and the Union dated August 21, 1978.
For additional information regarding the crediting of service
and pension benefit entitlement for former employees of WMAL, Inc. please contact
the Fund Office.
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