Caterpillar Inc. Retirement Income Plan - caterpillar hewitt benefits resources

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Caterpillar Inc.
Retirement Income Plan
Summary Plan Description
This document is a summary of the Caterpillar Inc. Retirement
Income Plan as in effect on January 1, 2022. To the extent any
portion of this summary is inconsistent with the Caterpillar Inc.
Retirement Income Plan document, the terms of the Plan document
shall govern.
January 1, 2022
5236903
Table of Contents
Page
INTRODUCTION .......................................................................................................................... 1
THE CATERPILLAR BENEFITS CENTER ................................................................................ 3
UPointTM ..................................................................................................................................... 3
Caterpillar Benefits Center ......................................................................................................... 3
PLAN OVERVIEW........................................................................................................................ 4
ELIGIBILITY AND PARTICIPATION ........................................................................................ 6
Eligible Employees ..................................................................................................................... 6
Participation ................................................................................................................................ 6
YOUR SERVICE AND SALARY ARE IMPORTANT ............................................................... 8
Credited Service.......................................................................................................................... 8
Years of Service.......................................................................................................................... 9
Vesting Service ........................................................................................................................... 9
Special Rules Applicable to Service ......................................................................................... 10
Final Average Monthly Earnings (FAME) ............................................................................... 11
VESTING ..................................................................................................................................... 13
PENSION ELIGIBILITY ............................................................................................................. 14
HOW YOUR TRADITIONAL BENEFIT IS CALCULATED ................................................... 15
Final Earnings Formula ............................................................................................................ 15
Credited Service Formula ......................................................................................................... 15
Pension Equity Plan (PEP) Participants.................................................................................... 16
HOW YOUR PENSION EQUITY BENEFIT IS CALCULATED ............................................. 17
HOW DISABILITY AFFECTS YOUR PENSION ..................................................................... 19
Service Credited While On Disability Leave For All Employees ............................................ 19
Retirement After Disability ...................................................................................................... 19
RECEIVING YOUR PLAN BENEFIT........................................................................................ 21
Automatic Distribution (Cash Out) of DeMinimis Benefit ...................................................... 21
Applying for Your Plan Benefit................................................................................................ 21
Normal Retirement Benefit....................................................................................................... 22
Early Retirement Benefit .......................................................................................................... 22
Additional Early Retirement Allowance................................................................................... 23
Deferred Vested Pension .......................................................................................................... 24
Postponed Retirement ............................................................................................................... 24
Payment Following Termination of Employment - PEP Participants ..................................... 24
Combination Traditional Plan Participant and PEP Participant ............................................... 25
Deferring Payment of Your Benefit.......................................................................................... 25
Retroactive Annuity Starting Date............................................................................................ 25
Benefit Limitations ................................................................................................................... 26
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Table of Contents
(continued)
Page
HOW BENEFITS ARE PAID ...................................................................................................... 27
Summary of Distribution Options Under the Plan.................................................................... 27
Normal Form of Distribution .................................................................................................... 28
Single Life Annuity Option .................................................................................................... 28
Qualified Joint & 50% Survivor Annuity ................................................................................. 28
Qualified Joint & 55% Survivor Annuity Option ..................................................................... 29
Contingent Annuitant Option.................................................................................................... 29
Ten Years Certain Option ......................................................................................................... 30
Lump Sum Payment.................................................................................................................. 30
Benefit Calculation Based on Distribution Options ................................................................. 31
If Spousal Consent Is Required ................................................................................................ 31
DEATH AND SURVIVORSHIP BENEFITS.............................................................................. 32
If You Die After Your Annuity Starting Date .......................................................................... 32
If You Die Before Your Annuity Starting Date - Traditional Plan .......................................... 32
If You Die Before Your Annuity Starting Date - PEP ............................................................. 33
Reviewing Your Beneficiary Designation ................................................................................ 34
SAME-SEX DOMESTIC PARTNERS........................................................................................ 35
IF YOU LEAVE AND ARE REHIRED ...................................................................................... 36
WHEN BENEFITS ARE NOT PAYABLE ................................................................................. 37
MILITARY SERVICE ................................................................................................................. 38
ELIGIBLE U.S. INTERNATIONAL SERVICE EMPLOYEES................................................. 39
GENERAL PLAN INFORMATION ........................................................................................... 40
Plan Name and Type................................................................................................................. 40
Plan Sponsor and Employers.................................................................................................. 40
Plan Number ............................................................................................................................. 40
Plan Year.................................................................................................................................. 40
Plan Administrator .................................................................................................................. 40
Plan Recordkeeper .................................................................................................................... 41
Plan Trustee ............................................................................................................................. 41
QDRO Administrator .............................................................................................................. 41
Agents for Legal Process ........................................................................................................ 41
ADDITIONAL PLAN INFORMATION ..................................................................................... 42
Plan Administration .................................................................................................................. 42
Your Responsibilities................................................................................................................ 42
Status Changes .......................................................................................................................... 42
How the Plan Is Funded .......................................................................................................... 42
Plan Fees and Expenses ............................................................................................................ 42
Plan Document.......................................................................................................................... 43
Representations Contrary to the Plan........................................................................................ 43
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What benefits are available to Caterpillar employees? As a Caterpillar employee, you are eligible for health and welfare benefits coverage. The coverage options available to you and any applicable costs for coverage are shown on your enrollment worksheet, as well as

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