10.2 Following retirement

Your pension continues to be paid to you as usual. However, you do not gain new membership into the Plan. Therefore, you will not make contributions nor accumulate additional credited service.

When your employment ends after age 55, you may request immediate payment of your pension without having to wait until the end of the 12-month waiting period. However, if you think you may want to work again for your former or a new employer, you should carefully consider the impact of your decision on your pension amount. If you request immediate payment of your pension, you will not be able to resume your Plan membership should you return to work. This decision is irrevocable.

If, on the other hand, you do not request immediate payment of your pension and are back to work for a participating employer, you will begin to accumulate credited service again upon your return to work, or upon reaching the 550-hour eligibility criteria, depending on whether or not your active membership has ceased. You will, however, have to wait until this new employment ends to request payment of your pension.