|
Your
pension benefit under the Plan has three parts:
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| The benefit you earned before 1999 which is s equal to:
$46.50 per month x each year of credited service up to December 31, 1998 |
PLUS
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The benefit you earn after 1998
is a percentage of your earnings during each period as
follows: |
| Year |
Monthly
Pension Formula
|
| Jan 1, 1999 - Dec 31, 2000 |
1/12 x 1.0% of earnings |
| Jan 1, 2001 - Dec 31, 2001 |
1/12 x 1.1% of earnings |
| Jan 1, 2002 - Dec 31, 2002 |
1/12 x 1.2% of earnings |
| Jan 1, 2003 - Dec 31, 2003 |
1/12 x 1.3% of earnings |
| Jan 1, 2004 and after |
1/12 x 1.4% of earnings |
PLUS
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|
The benefit after 1998 provided
from the employee contributions you make to the Plan |
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