Qualifying for Pension Benefits

Building your pension is achieved by working in employment covered by one of the WGA collective bargaining agreements. Earning $5,000 The requirement was $3,200 before 1997.in Covered Earnings Covered Earnings are earnings from employment for which Contributions to the Pension Plan are due under the WGA collective bargaining agreement in a calendar year will give you a Qualified YearA Qualified Year is any calendar year in which a Participant has earned at least eight (8) Credited Weeks. A Participant is deemed to have eight (8) Credited Weeks if he/she has $5,000 in Covered Earnings. under the Pension Plan. When you have accumulated five (5) Qualified Years, you will vest. The five Qualified Years do not need to be consecutive. However, any Qualified Years that you lost before January 1, 1998 due to a Permanent Break in Service A Permanent Break in Service happens if you have no Covered Earnings over a specified period of time. See page 6 of the Summary Plan Description. do not count. Special vesting rules apply if you are 65 or older.

Vesting is the key to securing a pension benefit. It means you have a right to a Retirement Benefit and it cannot be taken away even if you stop working. Under the Pension Plan, you are either fully vested or not vested at all; there is no partial vesting in Retirement Benefits.

Once you are vested, you will be eligible to receive a Retirement Benefit as long as you are age 52 or older. You will need to apply for Retirement Benefits with the Pension Plan. Retirement Benefits are not paid automatically until the law requires it, usually after age 72April 1 following the year you turn age 70-1/2 (if you were born before July 1, 1949), age 72 (if you were born after June 30, 1949) or January 1 following vesting if you are over age 72 when you vest..

When you have accumulated two (2) Qualified Years and at least $200 in Contributions, your Beneficiary will qualify for death benefits if you die before you retire.