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Your benefits under the Pension Plan are a significant part of your retirement income. The amount of your pension benefit is based on your age and marital status, the number of Pension and Special Service Credits you have earned, the form of payment you elected, and the benefit accrual rate in effect when you separate from employment. Generally, the longer you work for contributing Employers, the greater your pension benefit. The Pension Plan offers:
- Pensions at various Retirement ages;
- Different payment options;
- Disability benefits; and
- Survivor benefits.
Pension Plan benefits are in addition to any amounts you may receive from Social Security and other retirement plans.