F.6 Past Benefit Service
The monthly benefit at Normal Retirement Age for pre-July 1, 1990 Past Benefit Service is computed as follows:
Average Contribution Rate (ACR) $1.00 per Hour or Less |
| Past Benefit Service |
X |
ACR times $27.90 |
= |
Past Service Monthly Retirement Benefit |
Average Contribution Rate Over $1.00 but Less Than $2.00 per Hour |
| Past Benefit Service |
X |
$27.90
plus
$23.50 times (ACR - $1) |
= |
Past Service Monthly Retirement Benefit |
Average Contribution Rate Equals or Exceeds $2.00 per Hour |
| Past Benefit Service |
X |
$51.40 |
= |
Past Service Monthly Retirement Benefit |
The $27.90 and $23.50 figures above are replaced by $34.85 and $29.35, respectively, if you met the minimum contribution requirement at $4.00 per hour before July 1, 1993.
|
