Deferred Vested Pension Qwest

This question isn't a contract question; it's what the pension plan said at the time employee left.  When an occupational employee leaves the company and is not eligible for a pension, they are eligible for a reduced deferred vested pension if they are vested.

Eligibility for a Deferred Vested Pension/Occupational varied depending on which company they worked for at the time they left Mountain Bell, Pacific Northwest Bell or Northwestern Bell

Below is the history for Deferred Vested Pension eligibility based on those pension plans.  Please note that PNB, NWB and MTN were all a little different from 1986 through 1988 based on their separate pension plans in effect at that time.

When a person is eligible for a deferred service pension:

         Before June 1, 1969 - No deferred vested plan

          June 1, 1969 to January 1, 1976 - Eligible with 15 years of vesting service and 40 years of age at termination.

          After January 1, 1976 - Eligible if either of the following apply:  10 or more years of vesting service after age 22; or Employee started to work before age 60 and was a pension plan participant and was employed by the Company at age 65.

          After January 1, 1986 - 10 or more years of vesting service after age 22.

          PNB occupational plan had no minimum vesting age effective August 10, 1986.

         After January 1, 1987:
         MTN/10 or more years of vesting service after age 18
         NWB/10 or more years of vesting service (No minimum vesting age)

         As of 1/1/1989 - 5 or more years of vesting service

When is an employee eligible to receive a deferred vested pension:

TOE When Employment Ends Earliest Age Reduced Payment May Be Elected
 
15 or more years                           Age 60
20 or more years                           Age 55
25 or more years                           Age 50

Otherwise, for those who do not fall into these categories, vesting applies at age 65.

Someone who is eligible to receive a deferred vested pension is not eligible for any other benefits which are provided during retirement to those who retire with service or disability pension.

If you still have a question, please provide me with your address, phone number and TOE date and I'll look into this.  

Judy Fries


 

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