Pension Plan Summary Plan Description

8.2 Delayed Normal Pension with no Retroactive Effective Date

You may elect to delay the commencement of your Normal Pension until as late as April 1 of the year in which you attain age 70 ½ or retire, whichever is later. You may also continue to earn additional benefits after Normal Retirement Age. If you elect to delay the commencement of your pension beyond Normal Retirement Age, your monthly pension amount will be increased so that the actuarial value of the monthly payments expected to be paid over your remaining life expectancy is no less than the actuarial value of the monthly payments that would have been paid to you had you begun your pension at Normal Retirement Age.