Retirement Date: December 31, 2003
Age at Retirement: 57
Credited Service until January 1, 1999: 25 years
Credited Service from January 1 1999: 5 years
| Year |
Earnings |
Employee
Contributions |
1999 |
$ 41,600 |
$ 1,664 |
2000 |
42,016 |
1,681 |
2001 |
42,436 |
1,697 |
2002 |
42,860 |
1,714 |
2003 |
44,146 |
1,766 |
TOTAL |
$ 213,058 |
$ 8,522 |
Pension Calculation
| For service to 31/12/98 |
|
25 x $46.50 |
$ 1,162.50 |
| For service after 31/12/98 |
|
|
|
| Greater of |
1.4% x 213,058
12 |
= $248.57 |
|
| |
OR |
|
|
| |
5 x $46.50 |
$232.50 |
248.57
$ 1,411.07 |
| |
|
|
|
| Minimum Benefit from Employee
Contributions |
| |
15% x 8,522
12 |
|
$ 106.53 |
| |
[NB - Member could have transferred
amount in Employee Contribution Account to an approved
Locked-in vehicle in lieu of receiving additional monthly
pension from the Plan.] |
|
| |
Pension |
|
$ 1,517.60 |
| |
Reduced by 9% for Early Retirement |
|
< 136.58> |
| |
Total Pension at Age 57 |
|
$ 1,381.02 |
| |
Additionally, the Member will receive
a bridge benefit of $200 per month until age 60, and then
$100 per month until age 65. See here
for more details. |
|
|