5.1 Benefit Service After June 30, 2006 You earn a Straight Life Annuity payment at Normal Retirement Age for Contributions made on your Covered Employment after June 30, 2006. The accrual rate for this period is 1.0% of Contributions. The accrual rate was increased to 2.00% for Contributions made after June 30, 2006 and before July 1, 2007. EXAMPLE: During Plan Year 2007, Michael’s employer contributed $10,000 to the Plan on his behalf. In Plan Year 2008, Michael’s employer contributes another $12,000 to the Plan on his behalf. Michael’s benefit from these Contributions is computed as follows: $10,000 x 2.0% = $200 $12,000 x 1.0% = $120 TOTAL = $320 monthly benefit at Normal Retirement Age for Contributions after June 30, 2006