TERS
SUPPLEMENTAL BENEFIT PLAN
PAST SERVICE BENEFIT
If you are already retired when your last employer begins contributing to the Supplemental Plan, you will receive an additional past service benefit of $23 for each full year of prior retirement. This is in addition to your Basic Benefit. The past service benefit remains flat for the remainder of your life.
For example, if you have been retired 10 years when your last Employer first becomes obligated to contribute to the Supplemental Plan, in the first year you will receive a total of $340 (10 x $23 + $110). You will continue to receive a past service benefit of $230 (10 x $23) each year in addition to your Basic Benefit.
If you are married, these amounts are reduced to provide a 50% Survivor Benefit for your spouse.
TERS
SUPPLEMENTAL BENEFIT PLAN
