Examples of Years of Benefit Service in a sentence
EARLY RETIREMENT You may elect Early Retirement as of the first day of any month after you reach age 55 and have completed 10 or more Years of Vesting Service.The amount of your benefit will be your Accrued Benefit at your Early Retirement Date or as of February 28, 2003, whichever occurs first, based on your Years of Benefit Service and your Compensation up to that time.
The benefit you receive upon your actual retirement will be based upon your actual birth date, compensation experience, completed number of Years of Benefit Service, the provisions of the Plan freezing benefits, the other provisions of the Plan, and the laws in effect when you retire.
WHY SERVICE IS IMPORTANT Accrued Benefit The amount of your pension benefit, among other things, is determined on the basis of how many Years of Benefit Service you have completed with the Participating Employer as of February 28, 2003.
The benefit you receive upon your actual retirement will be based upon your actual birth date, compensation experience, completed number of Years of Benefit Service, theprovisions of the Plan freezing benefits, the other provisions of the Plan, and the laws in effect when you retire.
Years of Benefit Service are used in determining when you are eligible to retire and in calculating the amount of your pension (see “How Your Pension Is Calculated” on pages 15–30 for more details about Years of Benefit Service).