Pension Credits definition

Pension Credits means pension credits as defined by Article V of the Rules and Regulations of the Pension Fund, or an equivalent amount of credit under another pension plan maintained by the Em- ployee’s last Participating Employer. The Trustees will have discre- tion to determine whether an Employee has an equivalent amount of credit under another pension plan, and in making that determination they will be entitled to rely upon information provided by the Partici- pating Employer that maintains that plan.

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Pension Credits means those periods of service during which credit is granted for benefit accrual purposes. Pension Credit shall not necessarily cover periods for which a Plan grants credit for vesting purposes under ERISA. Pension Credits accumulated and maintained by an Employee under one of the Plan signatory to the Reciprocal Agreement shall be recognized under the Reciprocal Agreement by the other signatory Plans as Related Pension Credits. Pension Credits under each Plan shall be based on the rules in effect in that Plan at the time the employment occurred.

Pension Credits means the contributions ·that would otherwise have been made to the Plan by and on behalf of the employee in respect of a period of approved leave, in the absence of such leave.

Examples of Pension Credits in a sentence

However, any employee who works greater than 30 days in a three (3) consecutive month period will be entitled to benefit reinstatement as follows This will confirm our agreement that laid off workers who perform short term work assignments as per Article 15.01 of this Collective Agreement will receive the following (Paid Holidays, consistent with the usual qualifiers ; Bereavement Leave and pay ; Safety Boots ; Social Justice Fund contribution; Pension Credits ; Vacation pay accumulation).
For Participants with no such Pension Credits, accrued retirement benefits shall be based upon Pension Credits and monthly benefit amounts credited and established in accordance with the provisions of the Plan in effect at the applicable time.
Confirmation of hours may be based on Records of Employment, Union Pension Credits, Department of Labour records and/or other documentation.
Pension Credit accumulated by a Participant under the Chicago Regional Council of Carpenters Pension Plan shall be recognized under this Plan as Allied Pension Credits.
The total of a Participant's Years of Pension Credit under this Plan and Allied Pension Credits together comprise the Participant's Aggregate Pension Credits.
Pension Credits Temp period counted only if rolled over into ongoing position per terms of CA.
A Limited Pension is provided for Participants who would otherwise lack sufficient Years of Pension Credits to be eligible for any pension because their years of employment were divided between this Plan and the Chicago Regional Council of Carpenters Pension Plan.
Letter #8 – RE: BENEFIT FOR PERFORMING SHORT TERM ASSIGNMENTS (7-01) This will confirm our agreement that laid off workers who perform short term work assignments as per Article 15.01 of the collective agreement will receive: the following (Paid Holidays, consistent with the usual qualifiers; Bereavement Leave and pay; Safety Boots; Social Justice Fund contribution; Pension Credits; Vacation pay accumulation).
The monthly amount of the Disability Pension is the same as the Normal Pension or Reduced Pension depending upon the number of Pension Credits earned by the Participant.
During the 2010 negotiations, the union expressed concern surrounding the possible shortfall of Pension Credits as a result of the 2009 Work Share Program.

More Definitions of Pension Credits

Pension Credits means the years of credit which are needed for entitlement to a pension and which are accu- mulated and maintained for Employees in accordance with the provisions of Article IV of this Plan.

Pension Credits means the units earned by you and used to determine the amount of pension benefits due to you if you reach Vested Status. The manner in which Pension Credits are calculated is described below:

Pension Credits means the aggregate value at a particular time of a Member's Pension Benefits under the Plan, or, if the context specifically stipulates, under another plan.

Pension Credits means the years or units of years required for an Employee to become eligible for a pension under this Plan and which are accumulated and maintained in accordance with Article 4 of this Plan for purposes of determining the amount of pension benefits due a participant.