Introduction

The Individual Account Pension Plan permits supplemental contributions under section 401(a) of the Internal Revenue Code. Such contributions are highly important in increasing your account balance, and consequently increasing your chances of having a comfortable retirement.

Contribution Rates

Your individual supplemental contribution rate can be zero, $1.00 per hour, or $2.00 per hour based on your classification under the bargaining agreement.

Vesting

Any supplemental contributions made on your behalf are immediately and fully vested.

Change in Classification

You can change to any classification level available to you by completing a 401(a) Supplemental Contribution Enrollment Form.

You must submit your form in the month of April for a June 1, effective date. But, if you are requesting a change to class 0 (with a $0.00 supplemental contribution) you may submit the request in any month. However, you may not return to Class I or Class II until the following April.

Change of Employer

If you change employer you must either complete a new Enrollment Form or complete the appropriate section of your dispatch slip.