SAG-Producers Pension Plan Benefits

Credits & Vesting

Pension credits

Prior service

You will be credited with one prior service credit for each calendar year between January 1, 1937 and December 31, 1960, in which you have prior service earnings of $2,000 or more. The maximum number of prior service credits which will be used to calculate your benefits is 20.

Current service

You will be credited with one current service credit for each calendar year after December 31, 1960 in which you meet the minimum earnings.

Current Service

1961 through 1991 $ 2,000
1992 through 1995 $ 5,000
1996 through 1998 $ 7,500
1999 through 2002 $10,000
2003 through 2008 $15,000
2009 $16,000
2010 $17,000
2011 $18,000
2012 and after $20,000

See exceptions to the minimum earnings requirements.

The Pension Plan also has an Alternative Eligibility Program in the event you do not meet the minimum earnings requirement. You are entitled to an alternative pension credit if you meet the minimum days of employment requirement.

Note: Alternative pension credits are not used for all purposes under the Pension Plan.

Current Service - Alternative Service Credits

1999 through 2002 60 days
2003 and after 70 days

Vesting Rules

Ten-year rule

10 pension credits excluding pension credits under Alternative Eligibility Program

Age 55, payable as an early retirement pension or at age 65 payable as a regular pension 

10 pension credits including pension credits under Alternative Eligibility Program

Age 65, payable as a regular pension 

Normal retirement age rule

Normal retirement age:
Age 65, or the 5th* anniversary of participation (excluding participation prior to a permanent break-in-service), if later.
*10th anniversary if no earnings after 1/1/1988.

Age 65 or older, payable as a vested pension only if "active" on or after normal retirement age. "Active" means earning a current service credit.

Five-year rule

5 pension credits without a permanent break-in-service, and satisfaction of the activity test.

Age 65 or older, payable as a limited five-year vested pension.

Break-in-service rules

One-year break

A one-year break-in-service occurs in a calendar year if you are not vested and your earnings are less than the minimum earnings to avoid a one-year break for that year. The one-year break limits are different for limited five-year vesting and normal retirement age vesting.

Earnings Required to Avoid a One-Year Break

1961 - 1991

$ 2,000

$ 2,000

1992 - 1995

$ 2,500

$ 5,000

1996 - 1998

$ 3,750

$ 7,500

1999 - 2002

$ 5,000

$ 5,000

2003 and after

$ 7,500

$ 7,500

Permanent break

You have a permanent break in service if you have at least five consecutive one-year breaks and the number of consecutive one-year breaks equals or exceeds the number of pension credits you previously accumulated. You can prevent temporary one-year breaks in service from becoming a permanent break in service by earning a pension credit. If you earn more than the amount to avoid a one-year break but less than the minimum to earn pension credit, the year is not counted as a one-year break in service. However, it also does not interrupt the count of consecutive one-year breaks.

See also: Parental Leave/FMLA Exception