Traditional Pension: Benefits

The annual benefit provided under a "full pension" from the Traditional Pension Plan (in the form of a single life annuity) is calculated using the following formula:

Members retiring with less than 30 years of service or younger than age 65, if otherwise eligible, receive benefit reduced from the full amount calculated under a Single Life Benefit (Plan B).

The Traditional Pension Plan also currently includes disability and survivor benefits, as well as cost-of-living adjustments after retirement and access to health care coverage.