If you join the Plan in 1987 or later, all your retirement benefits are calculated under the contribution account benefit formula. If you joined the Plan before 1987, you earn benefits under two different formulas: your five-year average benefit and your contribution account benefit.

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Contribution Account Benefit Formula
Five-Year Average Benefit Formula


Contribution Account Benefit Formula

Under the contribution account benefit formula, you earn a monthly retirement benefit based on a percentage of the basic contributions your employers make for all your contributory service (covered hours) after 1986. This is called your contributory service benefit.

In most cases, your contribution account benefit equals your contributory service benefit. However, if you first join the Plan after 1986, you may also qualify for a non-contributory service benefit based on your employment before you entered the Plan. Or, if you rejoin the Plan after 1986 as part of a new bargaining unit, you may qualify for a non-contributory service benefit based on your employment between your two periods of covered employment.

If you qualify, your contribution account benefit equals the total of your contributory service benefit plus your non-contributory service benefit.

Contributory Service Benefit
Non-Contributory Service Benefit Based on Past Employment
Non-Contributory Service Benefit Based on Intermediate Employment


Five-Year Average Benefit Formula

If you joined the Plan before 1987, you earned benefits under the Plan's five-year average benefit formula for your covered employment before 1987. If your Plan coverage starts in 1987 or later, all of your benefits are earned under the contribution account benefit formula.

Under the five-year average formula, you earn a monthly retirement benefit based on your covered hours and past employment, if any, up through 1986. This is called your five-year average benefit. Click here for details.

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