This excerpt taken from the BMS 10-K filed Mar 15, 2006.
Sec. 6.7 Suspension of Benefits and Effect of Reemployment. If a Participant has a Termination of Employment and is subsequently reemployed by a Participating Employer, or if a Participants employment with a Participating Employer continues after he or she attains Normal Retirement Age, the following shall be applicable:
(a) If a Participant is reemployed by a Participating Employer, pension payments shall continue through the month the Participant completes 1000 Hours of Service following said reemployment. After said month and prior to the month following the Participants subsequent Termination of Employment, pension payments he or she would otherwise be entitled to receive for the following calendar months shall be permanently withheld:
(1) Each calendar month ending on or before the Participants Normal Retirement Date in which he or she completes one or more Hours of Service.
(2) Each calendar month ending after the Participants Normal Retirement Date in which he or she completes 40 or more Hours of Service.
(b) If a Participants employment with a Participating Employer continues after his or her Normal Retirement Date, pension payments will be permanently withheld for each calendar month in which he or she completes 40 or more Hours of Service.
(c) If a monthly pension payment is made for a calendar month and it later is determined that such payment was subject to permanent withholding, the amount
of such payment shall be applied as an offset against subsequent monthly payments unless the Participant has previously repaid the overpayment. However, the amount of any such offset shall not exceed, in any one month after the Participant attains Normal Retirement Age, 25 percent of the monthly total benefit payment that would have been paid but for the offset.
(d) The Company shall notify a Participant of any suspension under subsection (a)(2) or (b). The notice shall conform to the requirements of Section 2530.203-3(b)(4) of the Department of Labor Regulations.
(e) When a Participants benefit payments resume following any period of suspension under subsection (a), the pension shall be paid under the same form as previously in effect and shall be in a monthly amount equal to the sum of (i) the monthly amount payable prior to the suspension plus (ii) any additional amount based on service during the period of reemployment. However, notwithstanding any other provision of the Plan to the contrary, no additional amount will be accrued for any Plan Year during the period of reemployment prior to the earliest Plan Year therein during which the Participant completes 1000 or more Hours of Service.
(f) Hour of Service for purposes of this section is as defined in Sections 2530.200b-2(a)(1) and (2) of the Labor Department regulations.
(g) The provisions of this section shall be administered in accordance with section 2530.203-3 of the Department of Labor Regulations.
(h) If the reemployment date is after December 31, 2005:
(1) Pay received during the period of reemployment will be disregarded for purposes of determining the individuals Monthly Earnings.
(2) Service during the period of reemployment will be disregarded for purposes of determining the individuals Credited Service.