How do I earn pension credit?

You earn pension credit based on the number of hours you work in any given calendar year. For every 250 hours worked in a calendar year, you earn 1/4 pension credit. You can earn up to 1.0 pension credits each year.

Why are pension credits important?

You retirement benefit is calculated based on the number of pension credits you earned over your career multiplied by the accrual rate in place when you last earned credit under the Plan unless you had a break in service. Therefore, it is very important to keep track of your hours worked. You can do that by:

• Reviewing your quarterly eligibility report sent by the Health Fund. This shows the number of hours reported by your employer; and
• Reviewing your annual statement of pension credit; and
• Keeping your check stubs or direct deposit information; and
• Contact the Contributions Department if the hours reported by your employer are incorrect.

What is the maximum number of pension credits used to calculate my benefit?

The maximum number of pension credits used to calculate your benefit depends on when you last earned pension credit under the Plan. Also, if you had a break in service before July 1, 2006, your pension credits may be limited to the maximum allowed for the date prior to the break in service.