Funded Pension Plan. The parties have provided for a funded pension plan, signed by the parties, which Pension Plan and Agreement and Declaration of Trust is considered a part of this Agreement as if set out in full herein, subject to all the provisions of this Agreement, except that no matter respecting the provisions of such plan shall be subject to the grievance procedure established in this Agreement.
Funded Pension Plan. Employees' normal retirement date shall be the first of the month following the month in which the employee attains the age of sixty-five (65). However, an employee will be allowed to continue working, provided that he is physically and mentally able to do so. Employees' normal retirement date shall be the first of the month following the month in which the employee attains the age of sixty-two (62) and has completed ten (10) years of continuous service; or, at age sixty (60) having completed at least thirty (30) years of continuous service. Individual funded pensions received a one-time increase of one percent (1%) in 1996 for employees retired on or after September 1, 1992, and two percent (2%) for employees retired before September 1, 1992. Individual funded pensions were increased by two percent (2%) for employees retired as of December 31, 1999, effective June 1, 2000. An employee who has fifteen (15) years of credited service may retire, at or after age fifty-five (55) but prior to attaining eligibility for a normal pension, on an actuarially reduced early retirement pension which shall be determined in the same manner as a normal retirement benefit, but with full actuarial reduction from what would have been the employee's earliest normal retirement date and benefit. Requests for pension shall be in writing and submitted to the Pension Committee at least sixty (60) days in advance of the first month for which benefits are payable. Employees who take early retirement, but who defer pension benefits, shall still be entitled to any other benefits provided to retirees under this Agreement (such as retiree medical benefits as provided for herein) on the same terms and conditions as any other employee who has taken a regular retirement. It is agreed that changes in the requirements of normal retirement may be made during the term of this Agreement, within the funding limits, with the approval of the actuary and the IRS. Details on pension benefits are in the Funded Pension Plan booklet.
Funded Pension Plan. 39 Employees' normal retirement date shall be the first of the month 40 following the month in which the employee attains the age of sixty-five 41 (65). However, an employee will be allowed to continue working, 42 provided that he is physically and mentally able to do so. 43 44 Employees' normal retirement date shall be the first of the month 45 following the month in which the employee attains the age of sixty-two 46 (62) and has completed ten (10) years of continuous service; or, at age 47 sixty (60) having completed at least thirty (30) years of continuous 48 service. Individual funded pensions received a one-time increase of 49 one percent (1%) in 1996 for employees retired on or after September 50 1, 1992, and two percent (2%) for employees retired before September 51 1, 1992. 1 Individual funded pensions were increased by two percent (2%) 2 for employees retired as of December 31, 1999, effective June 1, 2000. 4 An employee who has fifteen (15) years of credited service may 5 retire, at or after age fifty-five (55) but prior to attaining eligibility for
