About the National Pension Fund ....................................... 4 You’re in Good Company .................................................................................. 4 Some Highlights of the National Pension Fund .............................................. 4 › Fund Administration ............................................................................... 4 › Prior Plans ................................................................................................ 4 › Annual Statements ................................................................................. 4 › The National Pension Fund Website ...................................................... 5 › You Have Questions, We Have Answers ................................................. 5 Who Can Participate in the National Pension Fund? ........... 5 What is the Fund’s Rehabilitation Plan (RP)? ...................... 6 Summary of Benefit Changes Under the Rehabilitation Plan ........................ 6 Grandfathered Participant ................................................................................ 7 When Do You Become a Fund Participant? .......................... 7 Hours of Service ................................................................................................ 7 Covered Employment ....................................................................................... 7 Periods of Military Service ................................................................................. 7 How Does the Time You Work Count? ................................. 8 Vesting Service .................................................................................................. 8 › How You Earn Vesting Service ................................................................ 8 Credited Service ................................................................................................ 8 › Future Service Credit ............................................................................... 8 › Past Service Credit ................................................................................... 9 › How You May Earn Past Service Credit ................................................... 9 › If Past Service Credit Was Granted, When Do You Qualify for It? .......... 9 › When Past Service Credit Can Be Denied or Canceled .......................... 9 › When You Can Lose Vesting Service or Credited Service .................... 10 › What Is a Permanent Break in Service? ................................................ 10 You’re Thinking About Retiring — How Much Will Your Pension Benefit Be? .............................................. 10 Actuarial Present Value ................................................................................... 10 Normal Pension ............................................................................................... 10 › Amount of Your Normal Pension .......................................................... 11 › Non-Standard Groups ........................................................................... 12 Early Retirement Pension ............................................................................... 13 › Amount of Your Early Retirement Pension .......................................... 13 › Amount of Early Retirement Pension for Participants Covered by the Preferred Schedule .................................................................... 14 › Amount of Early Retirement Pension for Participants Covered by the Default Schedule ....................................................................... 14 › Early Retirement Pension for Grandfathered Participants .................. 15 30 and Out Pension ........................................................................................ 15 › Preferred Schedule ............................................................................... 15 › Default Schedule ................................................................................... 16 › Grandfathered Participants. .................................................................. 16 Eligibility for 20 and Age 62 Pension 30 and Out Pension .......................... 16 Special Negotiated Benefits ........................................................................... 17 Disability Pension ............................................................................................ 17 › Definition of Total and Permanent Disability ....................................... 17 › Amount of Disability Pension for Participants Covered Under the Preferred Schedule .............................................................. 17 › Amount of Disability Pension for Participants Covered Under the Default Schedule ................................................................. 18 TABLE OF CONTENTS