GRADED BENEFIT ACCRUALS
After receiving eight annual benefit payments as explained under The Basic Benefit, the benefit amount no longer increases by the full $110.00. Further potential increases are as follow
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Single Retiree
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|
Year |
Increase
|
Basic Benefit
|
Increase
|
Basic Benefit
|
Survivor Benefit |
|
9 |
$89
|
$969
|
$71
|
$775
|
$387.50 |
|
10 |
$73
|
$1,042
|
$58
|
$833
|
$416.50 |
|
11
|
$58
|
$1,100
|
$46
|
$879
|
$439.50 |
|
12
|
$47
|
$1,147
|
$38
|
$917
|
$458.50 |
|
13
|
$37
|
$1,184
|
$30
|
$947
|
$473.50 |
|
14
|
$26
|
$1,210
|
$21
|
$968
|
$484.00 |
|
15
|
$21
|
$1,231
|
$17
|
$985
|
$492.50 |
|
16
|
$16
|
$1,247
|
$13
|
$998
|
$499.00 |
|
17
|
$10
|
$1,257
|
$8
|
$1,006
|
$503.00 |
|
18
|
$5
|
$1,262
|
$4
|
$1,010
|
$505.00 |
|
|
|
|
* Average J&S Reduction
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For the 19th and later years, there are no further increases to your benefit. You will continue to receive the same benefit for life.
The above benefits are for retirees whose Employer contributes $0.40 per hour. If your Employer contributes at a different rate, your benefit may be different.
