Pension Summary Plan Description

Table of Contents

  1. WELCOME TO THE ALASKA TEAMSTER-EMPLOYER PENSION PLAN
  2. 1 INTRODUCTION
  3. 2 PARTICIPATION
    1. 2.1 General Participation Rules
    2. 2.2 Earning Participation with “Contiguous Non-Covered Employment”
  4. 3 VESTING
    1. 3.1 Vested Percentage
    2. 3.2 Vesting Service
    3. 3.3 Past Vesting Service
    4. 3.4 Break-in-Service Loss of Benefits Before Vesting
  5. 4 WHEN YOU MAY RETIRE
    1. 4.1 Normal Retirement Age
    2. 4.2 Minimum Retirement Age
    3. 4.3 Early and Rule of 85 Retirement Benefits
    4. 4.4 Deferred Retirement
    5. 4.5 When Payments are Mandatory
  6. 5 HOW YOUR BENEFIT IS CALCULATED
    1. 5.1 Past Benefit Service
    2. 5.2 Section 415 Maximum Benefit
    3. 5.3 Return to Covered Employment
    4. 5.4 Special Rules Regarding Calculation of Benefits
  7. 6 RECAPTURED VESTING AND BENEFIT SERVICE
  8. 7 HOW BENEFITS ARE PAID
    1. 7.1 Straight Life Annuity
    2. 7.2 Five Year Certain Life Annuity
    3. 7.3 Joint Annuity
    4. 7.4 Automatic Changes in the Form of Benefit Payment
    5. 7.5 When Payments Begin
    6. 7.6 Payment of Small Annuities
  9. 8 HOW TO APPLY FOR RETIREMENT BENEFITS
    1. 8.1 Change in Form of Payment within 90 Days of Your Retirement Date
  10. 9 SEPARATION FROM SERVICE
  11. 10 SUSPENDIBLE EMPLOYMENT
    1. 10.1 Suspendible Employment Defined
    2. 10.2 Suspension of Benefits
    3. 10.3 Verification of Employment
  12. 11 CHANGING YOUR FORM OF PAYMENT AFTER 90 DAYS
    1. 11.1 Non-Spouse Joint Annuitant
    2. 11.2 Change to Benefit for a Joint Annuitant
    3. 11.3 Death of Spouse After Retirement – Spousal Substitution
  13. 12 PRE-RETIREMENT DEATH BENEFITS
    1. 12.1 Surviving Spouse Annuity
    2. 12.2 Beneficiary Survivor Annuity
  14. 13. ADMINISTRATIVE INFORMATION
    1. 13.1 Incapacity
    2. 13.2 Improper Payments
    3. 13.3 Qualified Domestic Relations Orders (QDROs) and Protection of Benefits
    4. 13.4 Military and Uniformed Service
    5. 13.5 Payments for Retiree Health Coverage
  15. 14. FACTS ABOUT THE PLAN
    1. 14.1 Future of the Plan
    2. 14.2 PBGC Information
    3. 14.3 In Case Your Claim for Benefits is Denied
    4. 14.4 Your Rights Under ERISA
    5. 14.5 Communications
    6. 14.6 Disputed Payments
  16. 15. PLAN INFORMATION
    1. 15.1 Plan Name
    2. 15.2 Plan Number
    3. 15.3 Type of Plan
    4. 15.4 Plan Year
    5. 15.5 Description of Collective Bargaining Agreements
    6. 15.6 Funding
    7. 15.7 Plan Sponsor and Plan Administrator
    8. 15.8 Employer Identification Number
    9. 15.9 Type of Administration
    10. 15.10 Name and Address of Agent for Service of Legal Process
  17. APPENDIX A: Participation Rules
  18. APPENDIX B: General Vesting Rules
    1. B.1 Vesting in Your Normal Retirement Age Benefit if You Have Not Been a Participant After June 30, 2001.
    2. B.2 Vesting in Your Normal Retirement Age Benefits if You Have Not Been a Participant After June 30, 1999.
    3. B.3 Summary Table of Vesting Requirements Prior to July 1, 2001
    4. B.4 Break-in-Service
    5. B.5 Re-establishing Participation
  19. APPENDIX C: Early Retirement, Qualified Retirement, and Rule of 80 Retirement for Benefits Accrued Before January 1, 2012
    1. C.1 Early Retirement for Benefits Accrued Before January 1, 2012
    2. C.2 Qualified Retirement for Benefits Accrued Before January 1, 2012
    3. C.3 Rule of 80 Retirement for Benefits Accrued Before January 1, 2012
    4. C.4 Other Calculations and Forms of Benefits Apply After December 31, 2011
  20. APPENDIX D: Return to Covered Employment
    1. D.1 Return to Covered Employment Before September 1999
  21. APPENDIX E: Past Benefit Service
    1. E.1 Past Benefit Service Granted Between July 1, 1990 and June 30, 2001
  22. APPENDIX F: Special Provisions for Benefits Accrued Before July 1, 1990
    1. F.1 Unreduced Retirement
    2. F.2 Unreduced Retirement Date If You Meet Minimum Hour and Contribution Requirements
    3. F.3 Vesting
    4. F.4 Your Retirement Benefit
    5. F.5 Retirement Benefits If You Meet Minimum Contribution Requirements
    6. F.6 Past Benefit Service
    7. F.7 Lump Sum Payment of Employer Contributions
    8. F.8 Form of Benefit Applicable to Benefits Earned Before July 1, 1990
    9. F.9 Special Suspendible Employment Rules for Benefits Earned Before July 1, 1990
  23. APPENDIX G: Special Provisions for Benefits Accrued Between July 1, 1990 and June 30, 1997
  24. APPENDIX H: Special Provisions for Benefits Accrued Before and After July 1, 2006
    1. H.1 Benefit Service After June 30, 2006
    2. H.2 Benefit Service After June 30, 2003 and Before July 1, 2006
    3. H.3 Benefit Service After June 30, 1997 and Before July 1, 2003
    4. H.4 Benefit Service After June 30, 1990 and Before July 1, 1997
    5. H.5 Benefit Service Before July 1, 1990: the Overlay
  25. DEFINITIONS
Pension

Retirement and related ben­efits for participants.