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:
- Multiply 2.2% of your final average salary by the first 30 years of service.
- For service over 30 years, use 2.5% of your final average salary for each year.
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.