§ 154-136. Reduction in force pension.

(a)

Eligibility. A participant discharged from employment with the employer by reason of a reduction in force who has completed at least ten years of creditable service shall receive a reduction in force pension benefit.

(b)

Amount. The reduction in force pension, stated as a monthly amount in the form of a single life annuity for the life of the participant, shall be the participant's accrued benefit as of the date he or she ceases to be employed, determined in accordance with section 154-92, with no reduction for commencement before normal retirement date.

(c)

Commencement. The reduction in force pension shall be payable commencing on the first day of the month coinciding with or following the participant's attainment of age 55 and continuing on the first day of each month for the life of the participant, subject to the provisions on the effect of reemployment and death on benefits in sections 154-140 and 154-142.

(91-RC-669, § 4.6, 12-18-91)