| Topic Name: |
Benefits |
| Message Name: |
depends |
| Date Posted: |
01/05/2006 |
| In Reply To: |
How much is the pension? Is it a percentage of the salary, or a fixed amount per year? |
| Message: |
It's a cash balance plan with contributions based on a combination of your age + years of service.
For instance, if you are 30 + 3 years of service, you will have 3% of your annual salary contributed to an account. Say your base is 100k, you will get 3k put in account that earns roughly 5%/yr and you can collect it in monthly payments after age 62 and only after you complete at least 5 yrs service.
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