• SPD Table of Contents
  1. Introduction
  2. Funding Improvement Plan
  3. Pension Plan Highlights
  4. Beginning Work
  5. Leaving Work
  6. Getting Married or Divorced
  7. Preparing for Retirement
  8. Receiving a Pension
  9. Choosing a Payment Option
  10. Returning to Work
  11. In the Event of Death
  12. Administrative Information
  13. Definitions
  14. Table 1: Early Retirement Pension Reduction Factors for Benefits Accrued on or Before May 31, 2018
  15. Table 1A: Early Retirement Pension Reduction Factors for Benefits Accrued on or After June 1, 2018
  16. Table 2: Deferred Pension Early Retirement Reduction Factors
  17. Table 3: Actuarial Equivalent Reduction Factors for Pension Before Suspension of Benefits

Table 1: Early Retirement Pension Reduction Factors for Benefits Accrued on or Before May 31, 2018

Percentage of Accrued Benefit Payable Upon Early Retirement

The factors in the table below apply to Participants who initially retire on or after January 1, 1996 and work at least 500 hours in Covered Employment in a Calendar Year beginning on or after January 1, 1994 and Non-Bargained employees with at least 5 years of Vesting Service who leave Covered Employment on or after January 1, 1995 and work at least 500 hours in Covered Employment in a Calendar Year beginning on or after January 1, 1994.

Table 1 applies to benefits accrued on or before May 31, 2018.

NOTE: Reduction is 4% per year from age 60 to age 55.

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