Pension Plan
Pension Plan Benefit Summaries
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Age
60 and less than 62
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Service & Other
30 Years of Service and 30,000 hours before a Break in Employment occurs.
A Year of Service for qualification for a Service Pension is each year of Prior Service Credit and each Plan Year in which you had at least one hour of covered employment.
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Basic Benefit
Accrued Monthly Regular Pension Benefit with no reduction.
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Forms of Payment
- Single Life Annuity (120 payments guaranteed)
- 50% Joint and Survivor Annuity
- 75% Joint and Survivor Annuity
Reduction Factors
All forms of payment except the Single Life Annuity are reduced.
See also:
Post-Retirement Additional Lump Sum Benefits
Automatic Lump Sum Payment of Small Benefits -
Conditions Which May Result In Loss of Some or All Benefits