Pension Plan BenefitTabs™
Reduced/Unreduced Retirement
Type Reduced Unreduced at Age 64 or 62 Age 55 and less than 65 55 and less than 65 Service & Other 10 Pension Credits (without or following any Permanent Break in Service) - 10 Inside Wire Pension Credits; and
- Age plus Pension Credits is less than 85; and
- Either of the following:
- 3,000 Inside Wire Hours of Pension Credit since January 1, 1981 including 1,000 in the 36 months immediately preceding retirement (Age 62 qualified); or
- 300 Inside Wire Hours of Pension Credit in the 36 months immediately preceding retirement (Age 64 qualified)
See also: Rule of 85 Retirement
Basic Benefit Accrued Monthly Normal Retirement Benefit actuarially reduced 6% per year less than age 65. Accrued Monthly Normal Retirement Benefit actuarially reduced 6% per year less than age 62 (Age 62 qualified) or age 64 (Age 64 qualified) - 10 Inside Wire Pension Credits; and
Forms of Payment
- Single Life Annuity
- 50% Joint and Survivor Annuity*
- 66-2/3% Joint and Survivor Annuity*
- 75% Joint and Survivor Annuity*
- 100% Joint and Survivor Annuity*
*with or without Pop-up Benefit
Reduction Factors;
All forms of payment except the Single Life Annuity are reduced.
See also:
Lump Sum Death Benefit
Mandatory Cash-Out of Small Benefits
Pension Enhancement Option- Single Life Annuity
Conditions Which May Result In Loss of Some or All Benefits
Recap of Circumstances That May Cause You to Lose Benefits
Returning to Work in the Electrical Industry After Retirement