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UPS Retirement Topics
PT Pension question
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<blockquote data-quote="Pizza" data-source="post: 4332842" data-attributes="member: 70704"><p>Part Time?</p><p></p><p>This is from the company plan that covers most PT.</p><p></p><p></p><p><strong>Break in Service</strong></p><p></p><p>Generally, you will have a Break in Service in any calendar</p><p>year in which you are credited with less than 501 Hours</p><p>of Service.</p><p>If you are not yet fully vested in your benefit and have six or</p><p>more consecutive, one-year breaks in service, your years of</p><p>Vesting Credit and Service Credit before your Break in Service</p><p>will not be counted.</p><p></p><p><strong>If You Are Rehired</strong></p><p></p><p>If you leave employment with all UPS Related Companies with</p><p>a vested benefit and are later rehired as an Eligible Employee,</p><p>your participation will automatically resume and your prior</p><p>benefit service will be restored. However, if you received a</p><p>lump sum payment when you left, your prior benefit service</p><p>will be restored only if you repay that amount with interest</p><p>within five years of your reemployment or, if earlier, the date</p><p>you incur six consecutive Breaks in Service.</p><p>If you leave employment with all UPS Related Companies</p><p>before you are vested in your Plan benefit and are rehired, the</p><p>service that you completed before the Break in Service will be</p><p>restored if the number of consecutive Breaks in Service is less</p><p>than six. If the number of your consecutive Breaks in Service is</p><p>six or more, your prior service will be disregarded.</p></blockquote><p></p>
[QUOTE="Pizza, post: 4332842, member: 70704"] Part Time? This is from the company plan that covers most PT. [B]Break in Service[/B] Generally, you will have a Break in Service in any calendar year in which you are credited with less than 501 Hours of Service. If you are not yet fully vested in your benefit and have six or more consecutive, one-year breaks in service, your years of Vesting Credit and Service Credit before your Break in Service will not be counted. [B]If You Are Rehired[/B] If you leave employment with all UPS Related Companies with a vested benefit and are later rehired as an Eligible Employee, your participation will automatically resume and your prior benefit service will be restored. However, if you received a lump sum payment when you left, your prior benefit service will be restored only if you repay that amount with interest within five years of your reemployment or, if earlier, the date you incur six consecutive Breaks in Service. If you leave employment with all UPS Related Companies before you are vested in your Plan benefit and are rehired, the service that you completed before the Break in Service will be restored if the number of consecutive Breaks in Service is less than six. If the number of your consecutive Breaks in Service is six or more, your prior service will be disregarded. [/QUOTE]
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