Get a Pension Estimate

Calculating your pension benefit

In general, your maximum yearly pension is equal to 3% of your career income, plus $144 for each year of service.

Minimum pension: With 10 years of vesting service, the minimum pension is $200 per month at age 65. If you have five to nine years of vesting service, there is no minimum pension; your pension amount will be based on your actual earnings under the Plan and your years of service.

Maximum pension: Each year, the IRS sets a maximum yearly pension benefit.

Your pension amount will vary depending on your years of service and pensionable earnings. You can obtain a quick estimate of your pension amount under many scenarios through our Self-Service Portal. Just log in or register, and you’ll gain access to our pension estimator.

Your pension benefit and when you start
collecting it

If you begin collecting before age 65

Your benefit is reduced for each month that you are younger than 65. Specifically, the amount is reduced by 0.5% for each month—or 6% for each year—that you begin your pension before age 65. The reductions are based on your age at the end of the month immediately before your pension start date.

If you begin collecting after age 65

Your benefit increases each month that you wait past your 65th birthday. The increase is 1% per month up to the first 60 months that you delay your pension after turning 65, if you were eligible for a pension at that time. As of your 70th birthday, your benefit increases by 1.5% per month.

For more on how your pension is calculated, review the Pension Plan and 401(k) Plan Summary Plan Description.