Adjustment to the Pension Formula to Compensate for the Change in Adjusted Credited Participating Service

The CSI Pension Plan current pension formula equals:

Final Average Earnings x Adjusted Credited Participating Service x 1.38%.
Because Adjusted Credited Participating Service is part of the pension formula, the pension formula also needs to change so that the pension benefit earned remains the same. To do this, the Plan has also been amended to:

  • Increase the benefit accrual rate from 1.38% to 1.84%.

    • With this change, the retirement benefit earned remains the same as before.  Also, the benefit earned each year continues to be proportional to the contributions.

    Full Issue: No. 161 - December 2006

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