Prior Pension Credit (for periods before June 1, 1960)
Prior Pension Credit is granted for employment and military service as follows:
- Work as an Operating Engineer before June 1, 1960. One Prior Pension Credit is granted for each Plan Year before June 1, 1960 in which a Participant worked 1,200 hours or more (1/1200 of such credit for each hour of work) in a job covered by one of the Collective Bargaining Agreements in the geographic area covered by the Plan. Credits also granted for work in an industry organized by the Union before June 1, 1960, unless that work results in credit toward a pension from a public agency.
- Employment by the Union before June 30, 1960. One Prior Pension Credit is granted for each Plan Year of regular employment by the Union before June 30, 1960.
- Military Service from 1940 through 1947, and from 1950 through 1956. One Prior Pension Credit is granted for each Plan Year (1/12th of a credit for each month) of service in the Armed Forces of the United States during the years 1940 through 1947, and 1950 through 1956. Credit is only granted if the Participant was employed in a job covered by a Collective Bargaining Agreement in the Plan’s geographic area immediately before induction into military service and the Participant returned to that type of job within one year of discharge from military service or within one year of recovery from a disability which continued after leaving the military. No credit is granted if the Participant was dishonorably discharged.
Because it may be difficult to provide evidence of employment before June 1, 1960, Prior Pension Credit is granted to each Participant at the rate of 1,200 hours for each Plan Year of membership in good standing in the Union from May 1, 1930 to June 1, 1960.
Important Limits on Prior Pension Credits
- The maximum number of Prior Pension Credits is 20.
- Prior Pension Credit will be credited to a Participant only if the Participant earns at least one-half of a Current Pension Credit before incurring a Permanent Break in Employment.