A Deferred Vested Pension Is a Status Given to a Member Who:
- Is Vested
- Has left Covered Employment
- But has not yet reached an eligible retirement age
A Deferred Vested Pensioner must wait until he or she has attained the age requirement for an Early Retirement or Regular Pension (age 62 or 65, respectively). He or she will then receive the pension rate in effect as of the last day of his or her Covered Employment.
Other Hotel Funds benefits, including health coverage, are not available to a Deferred Vested Pensioner because he or she has left the Hotel Industry prior to retirement age.
A Deferred Vested Pensioner is also not eligible for the 55-year-old Age and Service Pension because he or she must reach age 55 as of the last day of Covered Employment to qualify for this pension.