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Plan Today/Play Tomorrow Mailing
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<blockquote data-quote="vantexan" data-source="post: 711885" data-attributes="member: 24302"><p><strong>Re: Plan Today and Play Tomorrow</strong></p><p></p><p></p><p></p><p>I don't see an error either. He's a 20 year employee so let's say he was an 18 year employee when plan was terminated. Take 2% of his $100,000 5 year average=$2000, multiply by 18=$36,000. Divided by 12 equals $3000 a month at age 60. What error were you referring to? OK, on looking closer I notice he said 5 highest years "well above" $100,000. Would have to know how many years of service he actually had when plan terminated as well as what his actual 5 year average was. My first year with company didn't count towards pension since I didn't work 1000 hrs as a part-timer in Memphis hub. So maybe he only had 16 or 17 years of credited service?</p></blockquote><p></p>
[QUOTE="vantexan, post: 711885, member: 24302"] [b]Re: Plan Today and Play Tomorrow[/b] I don't see an error either. He's a 20 year employee so let's say he was an 18 year employee when plan was terminated. Take 2% of his $100,000 5 year average=$2000, multiply by 18=$36,000. Divided by 12 equals $3000 a month at age 60. What error were you referring to? OK, on looking closer I notice he said 5 highest years "well above" $100,000. Would have to know how many years of service he actually had when plan terminated as well as what his actual 5 year average was. My first year with company didn't count towards pension since I didn't work 1000 hrs as a part-timer in Memphis hub. So maybe he only had 16 or 17 years of credited service? [/QUOTE]
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