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Population: New or Prospective Non-Represented
How Does My Account Grow?
At the end of each plan year, the Company credits your "account" with two types of credits: annual contributions from the Company and interest credits
- The annual contribution is based on points equal to your age plus years of service, which translates to a percentage of annual compensation that's added to your account.
- Interest credits equal 6% of your account balance as of the end of the previous plan year.
The percentage of your pay used to determine the Company’s contribution is based on your total service and age points (including years and months) at the end of the calendar year, as follows:
|
If Your Years of Service Plus Your Age Equals … |
The Company Will Contribute This Percentage of Your Pay to Your Account ... |
|
Less than 30 |
2.00% |
|
30-39 |
2.50% |
|
40-49 |
3.25% |
|
50-59 |
4.25% |
|
60-69 |
5.50% |
|
70-79 |
7.00% |
|
80-89 |
9.00% |
|
90 or more |
12.00% |