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Can anyone explain the retirement 20+ 30 thing or whatever it is to me?
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<blockquote data-quote="TooTechie" data-source="post: 1326057" data-attributes="member: 28388"><p>I was on the road earlier trying to recall figures, but piecing it together from what I see online, it's pretty close.</p><p></p><p>First for the age part:</p><p></p><p><span style="font-size: 10px"><strong>(a) An Active Participant is eligible to retire on an Early Retirement Pension if he:</strong></span></p><p><span style="font-size: 10px"></span></p><ol> <li data-xf-list-type="ol"><span style="font-size: 10px"> has at least 15 years of pension credit, and</span></li> <li data-xf-list-type="ol"><span style="font-size: 10px"> has a retirement age between 55 and 64.</span></li> </ol><p><span style="font-size: 10px"> </span></p><p><span style="font-size: 10px"><strong> (b) An Active Participant is eligible to retire on a 30-Year Full Service Pension if he:</strong> </span></p><p><span style="font-size: 10px"></span></p><ol> <li data-xf-list-type="ol"><span style="font-size: 10px"> has at least 30 years of contributory credit, and</span></li> <li data-xf-list-type="ol"><span style="font-size: 10px"> has a retirement age under age 60.</span></li> </ol><p>For the financial end, these are old figures/charts, but in the old <a href="http://teamster.org/sites/teamster.org/files/New_England_Supplement.pdf" target="_blank">new england supplement</a> on page 44 it lists the hourly contribution rate as $5.26 per hour. If you go to the table <a href="http://www.nettipf.com/table17.htm" target="_blank">here</a> you see that with an hourly contribution of $5.26, the monthly pension accrual payable is listed as $272.00. Again, that's an old table and our hourly contribution went up with the new contract in New England, but just showing my on-the-fly numbers today weren't far off.</p></blockquote><p></p>
[QUOTE="TooTechie, post: 1326057, member: 28388"] I was on the road earlier trying to recall figures, but piecing it together from what I see online, it's pretty close. First for the age part: [SIZE=2][B](a) An Active Participant is eligible to retire on an Early Retirement Pension if he:[/B] [/SIZE] [LIST=1] [*][SIZE=2] has at least 15 years of pension credit, and[/SIZE] [*][SIZE=2] has a retirement age between 55 and 64.[/SIZE] [/LIST] [SIZE=2] [B] (b) An Active Participant is eligible to retire on a 30-Year Full Service Pension if he:[/B] [/SIZE] [LIST=1] [*][SIZE=2] has at least 30 years of contributory credit, and[/SIZE] [*][SIZE=2] has a retirement age under age 60.[/SIZE] [/LIST] For the financial end, these are old figures/charts, but in the old [URL='http://teamster.org/sites/teamster.org/files/New_England_Supplement.pdf']new england supplement[/URL] on page 44 it lists the hourly contribution rate as $5.26 per hour. If you go to the table [URL='http://www.nettipf.com/table17.htm']here[/URL] you see that with an hourly contribution of $5.26, the monthly pension accrual payable is listed as $272.00. Again, that's an old table and our hourly contribution went up with the new contract in New England, but just showing my on-the-fly numbers today weren't far off. [/QUOTE]
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Can anyone explain the retirement 20+ 30 thing or whatever it is to me?
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