An Employee shall be eligible for Normal Retirement Benefits on the first day of the month following the month in which he has attained age 65, provided he has
completed at least five (5) years of Credited Service.
For Participants not eligible under the preceding, the prior eligibility rules shall continue to apply.
IV.2 Early Retirement
An Employee who:
(1) has attained age 55, and
(2) has at least 10 years of Credited Service, and
(3) two or more years of Credited Future Service
may elect to receive
Early Retirement Benefits commencing the first day of any month immediately following the completion of the above requirements, but prior to his 65th birthday.
IV.3 Late Retirement
If an Employee
elects to continue to work after he becomes eligible to receive retirement benefits, he will continue to earn Credited Future Service and Future Service Benefits (as provided in Paragraphs 5.01 and 6.01).
IV.4 Disability Retirement
An Employee who:
(1) has at least 10 years of Credited Service, and
(2) two or more years of Credited Future Service, and
(3) who becomes
permanently and totally disabled (as provided in ARTICLE VII) prior to the date he becomes eligible to receive Normal Retirement Benefits is eligible for Disability Retirement Benefits commencing the first month
following six full consecutive calendar months throughout which he has been under such disability provided application is made in accordance with paragraph 5.07. Disability benefits will not be paid for the first
six months of such disability. A Participant who has elected to receive Early Retirement Benefits will not be eligible for Disability Retirement Benefits.
