Teammate Handbook Cover

50 2 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 2% 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.

2% at 50 Benefit Formula Minimum Age for Retirement 50

Age at Retirement

Benefit Factor

Years Needed to Attain 90%

50

2.000%

45.000

50 ¼ 50 ½ 50 ¾

2.035%

44.226

2.070%

43.478

2.105%

42.775

51

2.140%

42.056

51 ¼

2.175%

41.379

51½

2.210%

40.724

51 ¾

2.245%

40.090

52

2.280%

39.474

52 ¼ 52 ½ 52 ¾

2.315%

38.877

2.350%

38.298

2.385%

37.736

53

2.420%

37.191

53 ¼ 53 ½ 53 ¾

2.455%

36.660

2.490%

36.145

2.525%

35.644

54

2.560%

35.157

54 ¼ 54 ½ 54 ¾

2.595%

34.683

2.630%

34.221

2.665%

33.772

55 or older

2.700%

33.334

32

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