TABLE THREE Hourly Daily Monthly normal pension DETERMINING YOUR FUTURE SERVICE BENEFIT contribution contribution benefit for each year of rate rate future service credit Use this table if the latest calendar year for which you have 600 0.65 5.20 53.79 hours of service is 1997, and the effective date of your pension is on or after January 1, 1998. 0.70 5.60 56.99 To determine your future service benefit, first find your employer’s 0.75 6.00 60.21 hourly or daily contribution rate. To the right of that rate is the corre- 0.80 6.40 63.40 sponding benefit value. Multiply that value by your years of future 0.85 6.80 66.18 service credit at that rate. 0.90 7.20 68.99 Follow the same procedure for each contribution rate. 0.95 7.60 71.77 If you do not earn a full year of service credit in any calendar year, 1.00 8.00 74.57 you will receive a prorated amount based on the months of future 1.05 8.40 76.88 service you earned. 1.10 8.80 79.20 Contribu- Your Years of Monthly Future Accumulated 1.15 9.20 82.40 tion Rate Future Service Service Benefit Future Service 1.20 9.60 85.80 Credit at Value Benefit 1.25 10.00 88.99 that Rate 1.30 10.40 92.15 _____ _____ x $_____ = $_____ 1.35 10.80 95.34 _____ _____ x $_____ = $_____ 1.40 11.20 98.53 _____ _____ x $_____ = $_____ 1.45 11.60 101.72 _____ _____ x $_____ = $_____ 1.50 12.00 104.89 _____ _____ x $_____ = $_____ 1.55 12.40 108.07 Total Future Service Benefit $_____ 1.60 12.80 111.26 (add figures in final column) 1.65 13.20 114.43 1.70 13.60 117.62 Hourly Daily Monthly normal pension 1.75 14.00 120.80 contribution contribution benefit for each year of 1.80 14.40 123.77 rate rate future service credit 1.85 14.80 126.73 $0.10 $0.80 $8.18 1.90 15.20 129.72 0.15 1.20 12.29 1.95 15.60 132.68 0.20 1.60 16.36 2.00 16.00 135.65 0.25 2.00 20.65 2.05 16.40 138.62 0.30 2.40 24.91 2.10 16.80 141.58 0.35 2.80 29.21 2.15 17.20 144.56 0.40 3.20 33.49 2.20 17.60 147.54 0.45 3.60 37.76 2.25 18.00 150.50 0.50 4.00 42.04 2.30 18.40 153.29 0.55 4.40 46.31 2.35 18.80 156.06 0.60 4.80 50.59 2.40 19.20 158.84 SUMMARY PLAN DESCRIPTION 2023 // 49
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