I was in the Portal and I seen the benifets information from last year. It is in the total rewards from 2013. The way it reads to me is that we will only recieve our pension for 5 years. Is that how everyone else reads it? Now that is a bunch of crap.
The accrued benefit above is stated in the form of a five-year certain and life annuity (a monthly
annuity payable for your lifetime, with the first five years guaranteed). Other annuity options are
available at retirement. If you begin receiving pension payments prior to age 65, your benefit will be
reduced for early retirement unless you have met the Rule of 85 or you are at least age 62 with 20 or
more years of service. The Pension Plan’s benefit formula takes into account Social Security. Please refer
to the Retirement Benefits chapter of your Summary Plan Description for information on this plan’s
formula, early retirement factors and payment options.
Con-way makes contributions to the Pension Plan as required. These contributions ensure the plan is
adequately funded on an aggregate level.
If your compensation exceeds certain limits, a portion of your 401(k) and Pension Plan benefits may be
payable from the non-qualified retirement plans.
The accrued benefit above is stated in the form of a five-year certain and life annuity (a monthly
annuity payable for your lifetime, with the first five years guaranteed). Other annuity options are
available at retirement. If you begin receiving pension payments prior to age 65, your benefit will be
reduced for early retirement unless you have met the Rule of 85 or you are at least age 62 with 20 or
more years of service. The Pension Plan’s benefit formula takes into account Social Security. Please refer
to the Retirement Benefits chapter of your Summary Plan Description for information on this plan’s
formula, early retirement factors and payment options.
Con-way makes contributions to the Pension Plan as required. These contributions ensure the plan is
adequately funded on an aggregate level.
If your compensation exceeds certain limits, a portion of your 401(k) and Pension Plan benefits may be
payable from the non-qualified retirement plans.