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Pension
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<blockquote data-quote="JonFrum" data-source="post: 795155" data-attributes="member: 18044"><p>Murph is talking about 5 Years of Vesting Service with each year needing 750 hours of work and contributions. You aren't entitled to a pension of any kind unless you are Vested. Even then your five years only gets you a small pension at Normal Retirement Age, usually age 65.</p><p> </p><p>Hondo is talking about Pension Credits. Usually one Pension Credit is earned per year, with partial credit earned for partial years.</p><p> </p><p>You earn both Vesting Service and Pension Credits from Day One, but your Pension Credits are only theoretical, until you get Vested. If you leave the fund before being Vested, the fund keeps all your money.</p><p> </p><p>Murph, what pension plan are you in?</p></blockquote><p></p>
[QUOTE="JonFrum, post: 795155, member: 18044"] Murph is talking about 5 Years of Vesting Service with each year needing 750 hours of work and contributions. You aren't entitled to a pension of any kind unless you are Vested. Even then your five years only gets you a small pension at Normal Retirement Age, usually age 65. Hondo is talking about Pension Credits. Usually one Pension Credit is earned per year, with partial credit earned for partial years. You earn both Vesting Service and Pension Credits from Day One, but your Pension Credits are only theoretical, until you get Vested. If you leave the fund before being Vested, the fund keeps all your money. Murph, what pension plan are you in? [/QUOTE]
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