TABLE TEN Normal, early, DETERMINING THE AMOUNT OF YOUR BENEFIT UNDER Your age at your 30 and Out, 20 and Disability pension effective Age 62 or Vested Pension** THE 120 CERTAIN PAYMENTS OPTION date Deferred Pension* First, calculate your pension benefit, including any applicable age 71 88.0 N/A reduction. In the first column, find your age on the effective date of your pension. To the right of the age column are two columns con- 72 87.0 N/A taining percentage figures. Select the percentage that corresponds 73 86.0 N/A to your age and the type of pension for which you intend to apply. (Maximum benefit (Maximum benefit Multiply that percentage by the amount of your pension benefit. payable is 99%) payable is 89%) If you are subject to an RP Schedule, multiply that amount by the Contact the Fund Office if you are older than 73 as of your pen- RP % noted below the table. The result is the amount you would sion effective date and may qualify for a normal or vested deferred receive if you elect the 120 Certain Payments option. pension. $ __ ____ x ____ x ____ = $ __________ * If covered by the Preferred Schedule or the Default Schedule, multiply result Your Benefit Age % RP % 120 Certain by 0.97500 (for Default Schedule, for benefits accrued after Default Schedule Payments Option Effective Date). ** If covered by the Preferred Schedule or Default Schedule, multiply your result Percentage of your benefit payable by 0.9330 (for benefits accrued after the Default Schedule Effective Date). Normal, early, TABLE ELEVEN Your age at your 30 and Out, 20 and Disability DETERMINING YOUR PAST SERVICE BENEFIT pension effective Age 62 or Vested Pension** date Deferred Pension* To determine your past service benefit, first find your employer’s 52 or younger 99% 89.0% initial hourly contribution rate. To the right of that rate is the cor- 53 98.8 89.0 responding past service benefit value. Multiply that value by your years of past service credit to determine your past service benefit. 54 98.4 88.7 55 98.0 88.4 x $ = $ 56 97.6 88.1 Your Years of Past Past Service Past Service 57 97.2 87.8 Service Credit Benefit Value Benefit 58 96.8 87.5 59 96.4 87.2 Hourly Monthly normal pension benefit 60 96.0 86.9 contribution rate for each year of past service credit 61 95.6 86.6 $0.10 $3.44 62 95.2 86.3 0.15 5.20 63 94.8 86.0 0.20 6.92 64 94.4 85.7 0.25 8.64 65 94.0 Not Applicable (N/A) 0.30 10.36 66 93.0 N/A 0.35 12.08 67 92.0 N/A 0.40 13.84 68 91.0 N/A 0.45 15.56 69 90.0 N/A 0.50 17.28 70 89.0 N/A SUMMARY PLAN DESCRIPTION 2023 // 59