QWEST PENSION PLAN - AUSWR Home

QWEST PENSION PLAN

LA3:752821.27

QWEST

PENSION PLAN

TABLE OF CONTENTS

Page

PREAMBLE .................................................................................................................................. 1

ARTICLE I

DEFINITIONS................................................................................................. 4

ARTICLE II SERVICE....................................................................................................... 31

2.1.Pension Calculation Service .................................................................................................. 31

2.2.Term of Employment............................................................................................................. 32

2.3.Vesting Service ...................................................................................................................... 33

2.4.Breaks in Service; Periods of Severance - Bridging Rules.................................................... 33

2.5.Service With Members of the Controlled Group................................................................... 36

2.6.Service with Portability and Interchange Companies............................................................ 38

2.7.Leave of Absence; Disability................................................................................................. 38

2.8.Temporary Layoff.................................................................................................................. 39

2.9.Termination with Separation Payment................................................................................... 39

2.10.Special Rules for Incidental Employees .............................................................................. 40

2.11.Military Service ................................................................................................................... 41

ARTICLE III PARTICIPATION ......................................................................................... 41

3.1.Participation - Required Service ............................................................................................ 41

3.2.Re-employment After Break in Service or Period of Severance ........................................... 42

3.3.Transfer to Time Warner Communications ........................................................................... 43

3.4.Transfer to U S WEST Interactive Video Enterprises, Inc.................................................... 43

3.5.Employees Transferred to the Company from GTE .............................................................. 43

3.6.Participation - U S WEST Cellular Technical Services......................................................... 43

3.7.Participation - U S WEST Paging.......................................................................................... 44

3.8.Participation - MediaOne of Delaware, Inc. .......................................................................... 44

ARTICLE IV CONTRIBUTIONS ....................................................................................... 44

4.1.Employer Contributions......................................................................................................... 44

4.2.Participant Contributions ....................................................................................................... 44

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ARTICLE V OVERVIEW OF ARTICLES V-A THROUGH V-E.................................... 45 5.1.Overview................................................................................................................................ 45 ARTICLE V-A PENSIONS FOR OCCUPATIONAL EMPLOYEES ................................... 46 5A.1.Service Pensions ................................................................................................................. 46 5A.2.Disability Pension ............................................................................................................... 51 5A.3.Termination of Employment - Deferred Vested Pension - Vesting Rule ........................... 52 5A.4.Pension Amounts ................................................................................................................ 55 5A.5.Qualified Preretirement Survivor Annuities ....................................................................... 76 ARTICLE V-B GRANDFATHERED PENSIONS FOR MANAGEMENT

EMPLOYEES ................................................................................................ 78 5B.1.Service Pensions.................................................................................................................. 79 5B.2.Disability Pension ............................................................................................................... 82 5B.3.Termination of Employment - Deferred Vested Pension - Vesting Rule ........................... 82 5B.4.Coordination With Other Plans ........................................................................................... 84 5B.5.Death of a Participant before Commencement of Benefits................................................. 85 5B.6.Application of Article V-B.................................................................................................. 86 ARTICLE V-C GENERAL PENSION PROVISIONS .......................................................... 90 5C.1.Retroactive Pension Benefits .............................................................................................. 90 5C.2.Maximum Annual Benefit................................................................................................... 91 5C.3.Reemployment - Suspension of Benefits ............................................................................ 96 5C.4.No Reduction in Amount of Pension .................................................................................. 99 5C.5.Buy-Backs ........................................................................................................................... 99 5C.6.Benefit Increases ............................................................................................................... 100 5C.7.Application of New 1997 Rules; Pre-97 Plan ................................................................... 101 5C.8.No Benefits for Non-Vested Participants.......................................................................... 103 ARTICLE V-D PENSION FOR MANAGEMENT EMPLOYEES - DEFINED LUMP

SUM PENSION ........................................................................................... 103 5D.1.Application........................................................................................................................ 103 5D.2.DLS Pension ..................................................................................................................... 104 5D.3.Adjustment for Retirement Before Age 65 ....................................................................... 111 D.4.Disability Benefit ................................................................................................................ 111 5D.5.Death of a Participant before Commencement of Benefits............................................... 111

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5D.6.Transfers to or from Cable Companies ............................................................................. 115 5D.7.Coordination With Other Plans......................................................................................... 115 5D.8.Ex-NewVector Participants and Former NewVector Participants.................................... 121 ARTICLE V-E PENSION FOR MANAGEMENT EMPLOYEES-ACCOUNT

BALANCE PENSION................................................................................. 122 5E.1.Application ........................................................................................................................ 122 5E.2Account Balance Pension ................................................................................................... 123 5E.3.Late Retirement ................................................................................................................. 130 5E.4.Disability Benefit............................................................................................................... 131 5E.5.Death of a Participant before Commencement of Benefits ............................................... 131 5E.6.Coordination With Other Plans ......................................................................................... 133 ARTICLE VI FORMS OF PAYMENT ............................................................................. 134 6.1.Standard Form of Benefit Payment...................................................................................... 134 6.2.Qualified Joint and Survivor Annuities ............................................................................... 135 6.3.Life Annuity With Ten Years Certain ................................................................................. 140 6.4.Increasing Annuity Options ................................................................................................. 141 6.5.Lump Sum Options .............................................................................................................. 142 6.6.Limitations on Form Elected ............................................................................................... 144 6.7.Cash-Outs of $5,000 or Less................................................................................................ 145 6.8.Direct Rollover Election ...................................................................................................... 146 ARTICLE VII DEATH BENEFITS .................................................................................... 147 7.1.Accidental Death Benefits ................................................................................................... 147 7.2.Sickness Death Benefit ........................................................................................................ 148 7.3.Death After Retirement........................................................................................................ 148 7.4.Beneficiaries ........................................................................................................................ 149 7.5.Method of Payment.............................................................................................................. 149 7.6.Death After Termination of Employment............................................................................ 150 7.7.Claims .................................................................................................................................. 150 7.8.Charging of Payments.......................................................................................................... 150 7.9.Definition of Wages............................................................................................................. 150 7.10.Waiver of Death Benefit .................................................................................................... 151 7.11.Termination of Death Benefits........................................................................................... 151

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ARTICLE VIII NAMED FIDUCIARIES - ALLOCATION OF RESPONSIBILITIES...... 152 8.1.No Joint Fiduciary Responsibilities ..................................................................................... 152 8.2.The Participating Companies............................................................................................... 152 8.3.The Company....................................................................................................................... 152 8.4.The Committee..................................................................................................................... 153 8.5.Plan Design Committee ....................................................................................................... 153 8.6.Delegation ............................................................................................................................ 153 8.7.The Trustee .......................................................................................................................... 153 8.8.Allocation of Fiduciary Responsibilities ............................................................................. 153 8.anization of the Committees .......................................................................................... 154 8.10.Plan Expenses .................................................................................................................... 155 8.11.Agent for Process............................................................................................................... 155 8.12.Effective Date .................................................................................................................... 155 ARTICLE IX TRUST AGREEMENT - INVESTMENTS ................................................ 155 9.1.Trust Agreement .................................................................................................................. 155 9.2.Expenses of Trust................................................................................................................. 155 ARTICLE X PARTICIPATING COMPANIES ............................................................... 156 10.1.Adoption of Plan ................................................................................................................ 156 10.2.Agency of the Company .................................................................................................... 156 10.3.Disaffiliation and Withdrawal From Plan.......................................................................... 156 10.4.Effect of Disaffiliation or Withdrawal............................................................................... 156 10.5.Vesting Upon Disaffiliation or Withdrawal....................................................................... 158 ARTICLE XI TERMINATION AND AMENDMENT ..................................................... 158 11.1.Termination of Plan ........................................................................................................... 158 11.2.Distribution on Plan Termination ...................................................................................... 158 11.3.Restrictions on Distributions to Certain Participants......................................................... 161 11.4.Amendment by the Company ............................................................................................ 162 11.5.Limitation on Reversions................................................................................................... 162 11.6.Plan Merger or Consolidation............................................................................................ 165 ARTICLE XII TOP-HEAVY PROVISIONS ...................................................................... 165 12.1.Application of Top-Heavy Provisions ............................................................................... 165 12.2.Definitions.......................................................................................................................... 165

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12.3.Determination of Top-Heavy Status .................................................................................. 166 12.4.Special Vesting Rule.......................................................................................................... 167 12.5.Special Minimum Benefit .................................................................................................. 167 12.6.Change in Top-Heavy Status ............................................................................................. 168 12.7.Super Top-Heavy Limitations............................................................................................ 168 12.8.Modification of the Top-Heavy Rules ............................................................................... 168 ARTICLE XIII MISCELLANEOUS .................................................................................... 169 13.1.Right to Dismiss Employees.............................................................................................. 169 13.2.Claims Procedure ............................................................................................................... 169 13.3.Forms of Notices................................................................................................................ 173 13.4.Applicable Law.................................................................................................................. 173 13.5.Inalienability of Benefits - Domestic Relations Orders..................................................... 174 13.6.Payments Due Minors or Incapacitated Persons................................................................ 174 13.7.Uniformity of Application ................................................................................................. 174 13.8.Disposition of Unclaimed Payments.................................................................................. 174 13.9.Time of Payment................................................................................................................ 175 13.10.Offset for Payments Under Law ...................................................................................... 177 13.11.Gender and Number......................................................................................................... 177 13.12.Claims Release................................................................................................................. 177 13.13.Damage Claims or Suits................................................................................................... 178 13.14.Judgment or Settlement.................................................................................................... 178 13.15.Payment from Trust Fund ................................................................................................ 178 13.16.Cessation of Interest......................................................................................................... 178 ARTICLE XIV HEALTH BENEFITS ACCOUNT.............................................................. 178 14.1.Establishment of Health Benefits Account ........................................................................ 178 14.2.Amounts Transferred to Health Benefits Account............................................................. 179 14.3.Restrictions on Use of Amounts Transferred..................................................................... 180 14.4.Vesting of Accrued Benefits.............................................................................................. 180 14.5.Minimum Benefit and Minimum Cost Requirements ....................................................... 180 14.6.Definitions.......................................................................................................................... 181 APPENDIX A ACTUARIAL ASSUMPTIONS AND ALTERNATIVE BENEFIT

FORMS ........................................................................................................ A-1

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