Early Retirement Reductions. An employee retiring from the service of the Company on an Early Retirement Date prior to age 62 will receive their Accrued Benefit reduced by 1/3% for each month that the Early Retirement Date precedes the first of the month coincident with or next following the employee's 62nd birthday. The benefits will be further reduced if the employee retires under the Spouse Option. An employee retiring from the service of the Company on an Early Retirement Date at or after age 62, or on a Normal Retirement Date, or on a Disability Retirement Date will have their Accrued Benefit reduced only to reflect an election of the Spouse Option, if applicable.
Early Retirement Reductions. For employees who are active on or after July 11, 1993, an employee retiring from the service of the Company on an Early Retirement Date prior to age 62 will receive their Accrued Benefit reduced by 1/4% for each month that the Early Retirement Date precedes the first of the month coincident with or next following the employee's 62nd birthday. The benefits will be further reduced if the employee retires under the Spouse Option.
Early Retirement Reductions. During the term of the current Collective Agreement, there are Early Retirement Windows. See 8 on page 7.
Early Retirement Reductions. If you choose to retire early, your Basic Pension at the time you retire will be actuarially reduced from the date you would be age 60 and have 10 years of Credited Service. If you choose to retire early and you qualified for early retirement at December 31, 2001, your pension will be reduced as follows:
Early Retirement Reductions. During the term of the current Collective Agreement, there are Early Retirement Windows. See 8 on page 101. Note: All retirements are on the first day of the month.
Early Retirement Reductions. Not qualified for early retirement at December 31, 2001 If you choose to retire early and you did not qualify for early retirement at December 31, 2001, your Basic Pension will be reduced to the actuarial equivalent of the pension you would have received if you were age 60 and had 10 years of Credited Service.
Early Retirement Reductions. If you choose to retire before age 62, or before you have 35 years of credited service or before your age plus service equals 90, your pension will be reduced. In determining the amount of this reduction, the reduction factor based on your age and the reduction factor based on your “Age Plus Service = 90” are compared and the smaller reduction factor is used.
