If a Retired Employee Returns to Work

If a retired employee returns to work before his/her 60th birthday, he/she must resume making basic contributions to the Pension Plan. In addition, the employer must resume making contributions on the employee’s behalf.

The employee will also have the option of making additional voluntary contributions (AVCs).

The new period of Plan membership will be treated as separate and distinct from the first. Any pension benefits the employee is receiving related to the first period of Plan membership will continue. New contributions (and related investment returns) will be held in a second account set up in the employee’s name. Benefits stemming from the second account will not be paid out until the employee retires again.

A retired employee who returns to work after his/her 60th birthday will not be permitted to make basic contributions. However, he/she will have the option of making AVCs.