Termination

If you terminate from the Plan before you are eligible to retire, you may still be entitled to benefits.

You become a Terminated Member if:

• you do not work for any signatory employer for a period of 6 consecutive months, OR
• no contributions are made on your behalf by any signatory employer for 24 consecutive months.

The Administrator will contact you to provide you with information regarding the termination options available to you along with the applicable termination forms. Your options at the time of termination will depend on your age.

• If you are already at least 55 years of age when you become a Terminated Member, you may:
  • start your monthly pension right away
  • defer starting your monthly pension to a later date (but no later than December 1st of the year in which you turn 71).
• If you are not yet 55 years of age when you become a Terminated Member, you may:
  • transfer the lump sum value of your deferred pension to your locked-in retirement account or another pension plan
  • take a “deferred pension” starting at your retirement or early retirement date
    
    If you choose a deferred pension and subsequently rejoin the Plan, future credits will add to the pension already earned. If you choose a lump sum transfer option, and subsequently rejoin the Plan, you will be treated as a new member.

Be sure to notify the Administrator of any address changes so that you may be kept informed.

For more information, please refer to the Termination of Employment Before Retirement section of the Pension Plan Booklet.