SECTION XI. RETIREMENT INCOME

1. For Participants in collective bargaining units covered as of the original effective date of the Plan:
   1. Normal Retirement Income. The monthly amount of normal retirement income to which a Participant will be entitled upon reaching his normal retirement date will be equal to the sum of his Past Service Retirement Income, if any, and his Future Service Retirement Income, each determined in the following manner:
      1. Past Service Retirement Income. Each Participant in the Plan on the effective date, who retires on or after July 1, 1974, will be credited with an amount of past service retirement income equal to $12 multiplied by his number of completed years of credited past service during the period of whole years starting with the Participant's latest seniority date with his Employer on the Plan effective date and ending on the Plan effective date, but not in excess of twenty (20) years.
         
      2. Future Service Retirement Income.
         1. All retired Participants will be credited with an amount of Future Service Retirement Income for the July 1, 1960 through June 30, 1970 Plan Years equal to $17.00 for each year in which he or she has 2,000 or more hours of service. If the Participant had fewer than 2,000 hours of service in any of those Plan Years, he or she will receive a percentage of $17.00 in proportion to the number of hours of service. This is subject to any subsequent increases granted by the Board of Trustees.
         2. Participants retiring on or before June 30, 1986 will be credited with an amount of Future Service Retirement Income equal to 2.0% of the average, monthly, straight time wages earned during each Plan Year from July 1, 1970 on, computed by dividing the total straight time wages earned during the year by 12.
         3. Each Participant in the Plan retiring on or after July 1, 1986, will be credited with an amount of Future Service Retirement Income equal to 2.1% of the average, monthly, straight time wages earned during each Plan Year from July 1, 1970 on, computed by dividing the total straight time wages earned during the year by 12.
      3. The retirement income of all employees on retirement as of July 1, 1974, who retired prior to that date shall be the amount of retirement income as provided by the Plan just prior to that date, increased by ten percent (10%).
      4. Effective August 1, 1980, the retirement income of all employees on retirement as of April 1, 1980, shall be increased as follows:
         
         First year prior to April 1, 1980 - 5%
         First year prior to April 1, 1979 - 8%
         First year prior to April 1, 1978 - 11%
         First year prior to April 1, 1977 - 14%
         First year prior to April 1, 1976 - 17%
         Prior to April 1, 1975 - 20%
         
      5. Effective August 1, 1984, the retirement income of all employees on retirement as of July 1, 1984, shall be increased as follows:
         
         First year prior to July 1, 1984 - 5%
         First year prior to July 1, 1983 - 8%
         First year prior to July 1, 1982 - 11%
         First year prior to July 1, 1981 - 14%
         First year prior to July 1, 1980 - 17%
         Prior to July 1, 1979 - 20%
         
      6. Effective, July 1, 1986, the retirement income of all employees on retirement as of June 30, 1986, shall be increased by 10%, and the benefit accrued as of July 1, 1986, of all Participants retiring on or after that date shall be increased by 10%.
         
      7. Effective July 1, 1987, the retirement income of all employees on retirement as of June 30, 1987, shall be increased by 10%; and the benefits accrued as of July 1, 1987, of all Participants who had performed 160 hours of covered employment in the Plan Year ending on June 30, 1987, shall be increased by 10%.
         
      8. Effective July 1, 1989, the retirement income of all employees on retirement as of June 30, 1989, shall be increased by 11.55%.
         
      9. Effective July 1, 1989, in lieu of the amount of Retirement Income required under Subsections (1) through (8) above, each Participant in the Plan retiring on or after July 1, 1989, who had performed 160 hours of covered employment in the Plan Year ending on June 30, 1989, shall be credited with an amount of Retirement Income equal to the sum of the following amounts:
         1. Past Service Retirement Income of $15.14 multiplied by his or her number of completed years of credited past service during the period of whole years starting with the Participant's latest seniority date with his or her Employer on the Plan effective date, and ending on the Plan effective date, but not in excess of twenty (20) years; plus
         2. Future Service Retirement Income of:
            1. $21.44 for each year in which he or she has 2,000 or more hours of service during the July 1, 1960, through June 30, 1970 Plan Years; or, if the Participant had fewer than 2,000 hours of service in any of those Plan Years, a percentage of $21.44 in proportion to the number of hours of service; plus
            2. 3% of the average, monthly, straight time wages earned during each Plan Year from July 1, 1970, through June 30, 1989, computed by dividing the total straight time wages earned during the year by twelve; plus
            3. 2.1% of the average, monthly, straight time wages earned during each Plan Year from July 1, 1989, on, computed by dividing the total straight time wages earned during the year by twelve.
            4. Effective November 1, 1994, in lieu of the amount of Future Service Retirement Income required under Subsection (9)(ii)(C) above for the period from July 1, 1989, through December 31, 1994, each Participant in the Plan retiring on or after November 1, 1994, who had performed 160 hours of covered employment in either the 1993 or 1994 Plan Years, shall be credited with an amount of Future Service Retirement Income equal to 2.35% of the average, monthly, straight time wages earned during each Plan Year from July 1, 1989, through December 31, 1994, computed by dividing the total straight time wages earned during the year by twelve.
      10. Effective October 1, 1994, the retirement income of all employees on retirement as of October 1, 1994, shall be increased by 3%.
          
      11. Effective May 1, 1996: the benefits accrued as of January 1, 1995, of all Participants who had performed 160 hours of covered employment in the Plan Year ending on December 31, 1994, and who were not on retirement as of December 31, 1994, shall be increased by 2%; and the retirement income of all employees on retirement as of December 31, 1994, shall be increased as follows:
          
          

          Effective date of Retirement	Increase
          January 1, 1990 to December 31, 1994	2.0%
          January 1, 1985 to December 31, 1989	3.0%
          January 1, 1980 to December 31, 1984	4.5%
          Prior to January 1, 1980	5.5%

          
          
      12. Effective July 1, 1998: The retirement income of all employees and beneficiaries on retirement as of December 31, 1996, shall be increased as follows:
          
          

          Effective date of Retirement	Increase
          January 1, 1990 and thereafter	2.0%
          January 1, 1985 to December 31, 1989	3.0%
          January 1, 1980 to December 31, 1984	4.5%
          Prior to January 1, 1980	5.5%

          
          
      13. Effective July 8, 1999: the benefits accrued as of December 31, 1997, of all Participants who had performed 160 hours of covered employment in the Plan Year ending on December 31, 1997, and who were not on retirement status on that date, shall be increased by 5%; and the retirement income of all employees on retirement as of December 31, 1997, shall be increased by 5%, effective with payments made on or after January 1, 1998.
      14. The benefits accrued as of December 31, 1998, of all Participants who had performed 160 hours of covered employment in the Plan Year ending on December 31, 1998, shall be increased by 16.8%, effective with payments made on or after January 1, 1999.
      15. Effective November 1, 2000: The retirement income of all employees and beneficiaries in retirement status as of December 31, 1999, shall be increased as follows:
          
          

          Effective date of Retirement	Increase
          January 1, 1995 to December 31, 1999	3%
          January 1, 1990 to December 31, 1994	4%
          January 1, 1985 to December 31, 1989	5%
          January 1, 1980 to December 31, 1984	8%
          Prior to January 1, 1980	10%

          
          
      16. The benefits accrued as of December 31, 1999, of all Participants who had performed 160 hours of covered employment in the Plan Year ending on December 31, 1999, and who were not in retirement status on that date, shall be increased by 5%, effective with payments made on or after January 1, 2000.
          
      17. Effective May 1, 2002: The retirement income of all employees and beneficiaries in retirement status as of December 31, 2000, shall be increased as follows:
          
          

          Effective date of Retirement	Increase
          January 1, 1996 to December 31, 2000	2%
          January 1, 1991 to December 31, 1995	3%
          January 1, 1986 to December 31, 1990	5%
          January 1, 1981 to December 31, 1985	7%
          Prior to January 1, 1981	10%

          
          
      18. The benefits accrued as of December 31, 2000, of all Participants who had performed 160 hours of covered employment in the Plan Year ending on December 31, 2000, and who were not in retirement status on that date, shall be increased by 4.5%, effective with payments made on or after January 1, 2001.
          
   2. Early Retirement Income.
      1. Reduced Early Retirement. The monthly amount of retirement income payable in the normal form to a Participant retiring on an early retirement date shall be equal to his normal retirement income for service to his early retirement date, actuarially reduced by one-half of 1% for each month the Participant's age at the time of retirement is short of normal retirement age, to reflect the fact that payments are commencing early and will be paid for a longer period than if he had retired on his normal retirement date.
      2. Unreduced Early Retirement. No reduction factor, however, shall be applied to the monthly amount of retirement income payable in the normal form to any Participant retiring on or after August 1, 1977, at age 62 or more with not less than 20 years of Credited Service, or on or after August 1, 1984, at age 60 or more, with not less than 25 years of Credited Service.
      3. Special Early Retirement Window
         1. For retirements effective (and applied for) during the periods:
            1. between April 1, 1993 and April 1, 1994, only, Participants who have had at least 160 hours of Credited Service in each of at least three (3) Plan Years during the period from July 1, 1987 through December 31, 1992, and
            2. between April 1, 1995 and April 1, 1996, only, Participants who have had at least 160 hours of Credited Service in each of at least three (3) Plan Years during the period from July 1, 1989 through December 31, 1994, and
            3. between April 1, 1997 and April 1, 1998, only, Participants who have had at least 160 hours of Credited Service in each of at least three (3) Plan Years during the period from January 1, 1992, through December 31, 1996, and
            4. between April 1, 2000, and January 1, 2001, only, Participants who have had at least 160 hours of Credited Service in each of at least three (3) Plan Years during the period from January 1, 1995, through December 31, 1999,

            shall have reductions applied to the monthly amount of his or her Normal Retirement benefits, according to the following table:
            
            

         Years of Credited Service at Retirement:	1/4 of 1% Reduction for Each Month Retirement Age Precedes Age:
         Less Than 20 years	65
         20 to 24 years	62
         25 or more years	60

         
         
         2. For retirements effective (and applied for) during the period July 1, 2003 to June 30, 2004, Participants who are at least age 55 on their pension effective date, and whose age and years of Credited Service together total at least 80, shall receive a monthly retirement benefit in an amount equal to his or her unreduced Normal Retirement benefit, provided the applicable condition below has been met:
            1. for retirements effective between July 1, 2003 and December 31, 2003, the Participant had at least 160 hours of Credited Service in each of the Plan Years 2000, 2001 and 2002, or
            2. for retirements effective between January 1, 2004 and June 30, 2004, the Participant had at least 160 hours of Credited Service in each of the Plan Years 2001, 2002 and 2003.
   3. Disability Retirement Income. A Participant who retires on a disability retirement date in accordance with Section VIII shall be entitled to a disability retirement income commencing on his disability retirement date equal in value to his normal retirement income for service to his disability retirement date.
   4. Postponed Retirement Income. If a Participant retires on a postponed retirement date, his retirement income commencing on his postponed retirement date will be equal to his normal retirement income for service to his postponed retirement date.
2. For Participants in collective bargaining units covered as of any deferred effective date: The normal, early, disability or postponed retirement benefits of employees qualified to retire as Participants in any collective bargaining unit admitted to coverage on a deferred effective date, shall be as the Trustees shall determine in accordance with the provisions of Section XXI.