Pension Summary Plan Description

5 HOW YOUR BENEFIT IS CALCULATED

Your benefit is calculated as a Straight Life Annuity. This is a retirement benefit payable in equal monthly installments over your life only. If you receive a form of payment other than a Straight Life Annuity, your monthly benefit amount is actuarially reduced for that form of payment. The current accrual rate is 1.0% of Contributions required on your behalf. Prior accrual rates are shown in Appendix H.