70 1/2 Year-Old Mandatory Pension

(Required Minimum Distribution)

If you are Vested, the Plan requires that you begin receiving your pension benefit by the April 1st following the calendar year in which you reach 70 1/2 years of age -- even if you are still working in Covered Employment and even if you have not yet applied for your pension.

If you are not yet Vested by age 70 1/2, your required first payment date will be the January 1st of the calendar year after the date in which you become Vested.

Example:
If you reach age 70 and 1/2 between: Your required first payment date would be:
January 1st and December 31st, 2006 April 1st, 2007
You would then receive an April 1st, 2007 check based upon the benefit you earned as of December 31st, 2006.

Your 70 1/2 Year-Old Mandatory Pension benefit is determined using the Regular Pension rate.

If you continue to work in Covered Employment after age 70 1/2, you will continue to accrue Pension Credits while also receiving your benefit payments. The additional Pension Credits you earn will be counted towards your monthly benefit each year. The first payment of the additional amount earned in each calendar year, beginning with the calendar year that includes your required first payment date, will begin with your February 1st check, which will also include an amount equal to the increase that was due for January and February.