Teammate Handbook Cover

50 3 percent @

R E T I R E M E N T F O RMU L A S A N D B E N E F I T F A C TO R S 3% at 50 Benefit Factors The chart below shows how the benefit factor increases for each quarter year of age from 50 to 55, and the required years of service to reach your maximum percentage allowed by law.

3% at 50 Benefit Formula Minimum Age for Retirement 50

Age at Retirement

Benefit Factor

Years Needed to Attain 90%

50

3.000%

30.000

50 ¼ 50 ½ 50 ¾

3.000%

30.000

3.000%

30.000

3.000%

30.000

51

3.000%

30.000

51 ¼

3.000%

30.000

51½

3.000%

30.000

51 ¾

3.000%

30.000

52

3.000%

30.000

52 ¼ 52 ½ 52 ¾ 53 ¼ 53 ½ 53 ¾ 54 ¼ 54 ½ 54 ¾ 53 54

3.000%

30.000

3.000%

30.000

3.000%

30.000

3.000%

30.000

3.000%

30.000

3.000%

30.000

3.000%

30.000

3.000%

30.000

3.000%

30.000

3.000%

30.000

3.000%

30.000

55 or older

3.000%

30.000

44

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