Amount payable
For employees meeting eligibility requirements, the amount payable is equal to
- $23 for the first 25 years of service
- plus $4 for each full year of service over 25 (up to a maximum of $43 (30 years of service))
NOTE. For any fractional years between 25 and 30, a fraction of $4 is added to the minimum rate of $23.
Effect of receiving an employer private pension
| Employer contributions |
reduced
- by the amount of the pension based entirely or in part on the railroad employer's contributions.
Exception: If the employer reduces the private pension because of the supplemental annuity, then restore the amount of the employer reduction to the supplemental annuity but do not raise it over the $43 maximum.
not reduced
- for a pension paid by a railroad labor organization.
|
| Employee contributions |
not reduced
- for any part of the amount of private pension based on the employee's contributions.
|