Vesting means that the Participant has a right to a Pension Benefit. Under
the Plan, a Participant is either fully vested or not vested at all; there is
no partial vesting in Pension Benefits.
Once a Participant is vested, the Participant’s benefits cannot be taken away
even if:
- The Participant stops working in covered employment, and
- Never works in covered employment again.
Also once the Participant is vested, the Participant will be eligible to receive
a retirement benefit when the Participant meets the age requirements. Please
see Retirement for more information on retirement benefits.
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