Plan Rules: 1.Participant would be eligible for benefits upon vesting 2.Particip
ID: 2646351 • Letter: P
Question
Plan Rules:
1.Participant would be eligible for benefits upon vesting
2.Participant would be 100% vested on completion of 5 years from DOH. Vesting and credited service period would be counted from first of the month following the DOH and would end on DOT.
3.Partial termination months would not be considered for calculating vesting and credited service.
Credit service:
0-5 Years Dollar multiplier:$30
6-10 Years Dollar multiplier:$35
10-20Years Dollar multiplier:$40
20-30 Years Dollar multiplier:$45
Participant data:
DOH(date of hire) 02/01/2003
DOT(date of termination) 01/01/2007
Participant had no break in service. He is enrolled into hourly plan where vested accrued benefit would be dollar multiplier multipled by credited service please enter a dollar value only.
Vested AB= $......
Thanks for the help
Explanation / Answer
SInce his service period is only 4 years he could not become eligible for vesting and therefore will not be eligible for credit and accordingly vested AB = 0.