The following general definitions of terms used in the Pension Plan document may be helpful in understanding the benefits provided and your rights under the Plan.

Calendar Year

The calendar year is the annual period January 1 through December 31 and serves as the basis for computing a year of vesting service and pension credit. It differs from the Pension Fund’s fiscal year which is the 12-month period of July 1 through June 30.

Contribution Period

Contribution period is the period during which an employer is required, in accordance with a collective bargaining agreement or other written agreement, to make contributions to the Fund for work in covered employment.

Covered Employment

Covered employment means employment of an employee by an employer for which contributions are required to be paid to the Fund and may include such employment prior to the Contribution Period which, if performed during the Contribution Period would have resulted in contributions being paid to the Fund.

Employee

If you work for an employer who contributes to the Pension Fund for your work as required by a collective bargaining agreement or other written agreement, you are an employee under the Plan and are covered by the Pension Plan.

Employer

If the employer you work for contributes to the Pension Fund in accordance with a collective bargaining agreement or other written participation agreement providing for such contributions, he is an employer under the Plan.

ERISA

ERISA means the Employee Retirement Income Security Act of 1974, as amended.

Normal Retirement Age

Normal retirement age is generally the later of age 65 or the fifth anniversary of an employee’s participation in the Plan.

Pension Credits

Pension credits are the units used to measure your work in covered employment in order to qualify for pension benefits and to determine your benefit amount.

Pension Credits before the Contribution Period

Pension credits before the contribution period are the number of years and quarters of years of work in covered employment before contributions were first required to be paid to the Fund.

Pension Credits during the Contribution Period

Pension credits during the contribution period are earned by your hours of work in covered employment for which contributions are required to be paid to the Pension Fund. .

Retirement

The period after you qualify for a pension under the Plan and start to receive monthly pension payments is considered retirement. To be considered in retirement there are certain types of employment which are prohibited.

Special Service Credits

For Calendar Years after 1999, you can earn Special Service Credits for hours of work in Covered Employment in a Calendar Year, according to the following schedule:

Hours of Work in Covered Employment During Calendar Year	Special Service Credit
1,500 – 1,799	1
1,800 – 2,099	2
2,100 or more	3

Union

When reference is made to the Union, it means the Sheet Metal Workers’ International Association, Local Union No. 73 of Chicago, Cook and Lake County, Illinois, AFL-CIO.

Years of Vesting Service

Years of vesting service are earned by your hours of work in covered employment and/or continuous noncovered employment during the contribution period for the purpose of determining your right to a Deferred Pension.