6. How is my monthly pension benefit payable at Normal Retirement Age calculated?

Your benefit amount contains three (3) parts:

1. $6.00 multiplied by the number of years and fractions of Credited Past Service.
2. The applicable Future Service Unit multiplied by Credited Future Service earned through July 1, 1982. The Future Service Unit amounts for each Local Union are listed in Article 4.2 of the Plan Document.
   1. For Local 11, if service is unbroken, Future Service Units are:
      1. $40.45 on or before May 31, 1980; and
      2. $49.45 for the period June 1, 1980 to January 14, 1982; and
      3. $55.95 for the period January 15, 1982 to June 30, 1982.
   2. For Locals 440, 441, and 477, if service is unbroken, Future Service Units are:
      1. $43.05 for Local 440; and
      2. $25.00 for Local 441; and
      3. $52.05 for Local 477.
3. The sum of:
   1. 2.25% multiplied by Employer Contributions for the period July 1, 1982 to June 30, 1987; plus
   2. 2.50% multiplied by Employer Contributions for the period July 1, 1987 to June 30, 1996; plus
   3. 2.25% multiplied by Employer Contributions for the period July 1, 1996 to June 30, 1999; plus
   4. 2.50% multiplied by Employer Contributions for the period July 1, 1999 to December 31, 2003; plus
   5. Employer Contributions covered under an Alternative Schedule, 1.45%, or 1.90% if you meet the eligibility requirements for an unreduced and non-deferred Early Retirement Benefit or a Normal Retirement Benefit, multiplied by Employer Contributions for the period beginning January 1, 2004 through retirement.
   6. 1.00% multiplied by Employer Contributions covered under the Default Schedule; plus

Off-Benefit Employer Contributions

The table below summarizes Off-Benefit Employer Contributions. Per a series of Rehabilitation Plans and Funding Improvement Plans, hourly Employer Contributions were increased by varying amounts. These contribution increases are disregarded for purposes of determining your pension benefit amount.

As described above, for Participant contributions transferred to this Plan per a reciprocity authorization, the benefit accrual rate is 1.0% for all contributions transferred to the Plan via reciprocity on or after October 28, 2009, subject to other benefit reductions as described in the answer to Question 19 on page 36.

Sample Pension Calculation

The following table details the monthly benefit calculated for an employee working in the jurisdiction of IBEW Local 11 who is not subject to a reciprocity agreement and turns age 55 on July 1, 2007, with at least 15,000 Hours of Covered Employment: