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December 27, 2016 | Print | Site Map | Help
 

Pension Plan

 
Participation

Purpose. This Article contains definitions to meet certain requirements of the Employee Retirement Income Security Act of 1974 (otherwise referred to as ERISA). Once an Employee (as defined in Section 1.11) has become a Participant, such Employee receives Credited Service and Benefit Units for employment before he or she became a Participant, in accordance with the provisions of Article 6.

Participation. An Employee who works in Covered Employment after the Contribution Date shall become a Participant in the Plan on the January 1 or July 1 next following a twelve-month-consecutive period (which includes his or her first Hour of Service in Covered Employment) during which he or she has at least 500 Hours of Service in Covered Employment or in Continuous Non-Covered Employment with a Contributing Employer.

Termination of Participation. A Participant who incurs a One-Year Break in Service (defined in Section 6.07) shall cease to be a Participant as of the last day of the Calendar Year which constituted the One-Year Break in Service, unless he or she is a Pensioner or Vested Participant.

Reinstatement of Participation. An Employee who has lost his or her status as a Participant in accordance with Section 2.03 shall again become a Participant at such time as he or she accumulates at least 500 Hours of Service in Covered Employment during a twelve-consecutive-month period which includes his or her first Hour of Service in Covered Employment after the Calendar Year during which Participation Terminated. The 500-hour requirement may also be completed with Hours of Service in Continuous Non-Covered Employment with a Contributing Employer.

A former Participant who reinstates his or her Participation in accordance with this Section 2.04 prior to incurring a Permanent Break in Service (defined in Section 6.07) will reinstate such Participation retroactively to the date of his or her reemployment.

References to specific section(s) of the Plan can be found in the Official Plan Document under Plan Documents on this website.

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resilientinfo@hsba.com

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Dublin, CA 94568-7756

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