It is capped at $3150 a year unless your grandfathered in and already have like 30 years in.
The new formula $105 x your years of service = monthly benefit.
$105 x 30 = $3150/month that's it no other increase. $3150 a month doesn't sound too bad but remember 30 years from now that won't even buy groceries.
The current formula is tied to your wages as you make more per year your will increase. There is no cap.
The new formula is capped at $3150/month we will have to fight in negotiations to get an increase. This is a step backwards.
The new formula $105 x your years of service = monthly benefit.
$105 x 30 = $3150/month that's it no other increase. $3150 a month doesn't sound too bad but remember 30 years from now that won't even buy groceries.
The current formula is tied to your wages as you make more per year your will increase. There is no cap.
The new formula is capped at $3150/month we will have to fight in negotiations to get an increase. This is a step backwards.