Banking of Hours and Reserve Contribution Credits


  1. If your employer contributes to the Plan on a per hour basis, all hours contributed for you are used to calculate your Contribution Credits, then are used to provide for your monthly coverage.  Credits earned above the amount needed to provide for your selected level of coverage on a monthly basis are banked as Reserve Contribution Credits.


  1. If you work more hours than are necessary to earn the Contribution Credits required for the Plan level of coverage you have selected, you will accumulate Reserve Contribution Credits in the Credit Bank. These Credits will be used if you don’t otherwise have enough work hours to maintain eligibility until there are insufficient Credits remaining in your Bank to use for a month’s eligibility. At that time you will become ineligible for coverage.  (See “Continuation of Coverage” Section for possible options).


  1. Eligibility for coverage can be maintained by a combination of hours earned and credits available in your Contribution Credit Bank. Unused credits can be maintained indefinitely in the Credit Bank as long as you are an eligible participant in the Plan (and the Board of Trustees continues to offer the Credit Bank as a feature of this Plan).