Monthly Retirement Benefit Increase

The fourth annual increase to the monthly pension benefit has been approved. Beginning September 1, 2007, the monthly pension benefit will permanently increase by 0.8% for those who are receiving a benefit as of August 31, 2007.

The indexing plan is being phased in over about 10 years. Each September, pending Trustee and CSI Board review and approval, the index formula will increase by an additional 0.2% (i.e. in September 2008, the increase is scheduled to be 1.0%). Once it is completely implemented, it should ultimately result in an annual 2% increase in benefits for all retirees. This increase is designed to help offset the effects of inflation.

Full Issue: No. 165 - June 20, 2007

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