Heritage NOC Pension information
Heritage NOC Pension information
Heritage NOC Pension information
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Retirement Plan Overview<br />
For Northrop <strong>Heritage</strong> Employees
<strong>Heritage</strong> Northrop Retirement Plan Benefits<br />
Part A<br />
Part B<br />
5-Year Transition<br />
Benefit<br />
Part D<br />
Your<br />
benefit<br />
under your<br />
historical<br />
plan<br />
formula<br />
through<br />
06/30/03<br />
Your benefit<br />
under the<br />
cash<br />
balance<br />
formula<br />
beginning<br />
07/01/08<br />
Your benefit based on<br />
+<br />
a formula similar to the<br />
+ =<br />
one under your<br />
historical plan formula<br />
from 07/01/03 –<br />
06/30/08<br />
or<br />
Whichever is greater<br />
Part C<br />
5-Year Transition Benefit<br />
Your benefit under<br />
the cash balance<br />
formula from<br />
07/01/03 – 06/30/08<br />
Your<br />
pension<br />
benefit<br />
2
Early Retirement Factors<br />
Northrop Grumman Retirement Plan<br />
Your age or points<br />
when payments begin<br />
55 years or 75 points<br />
56 years or 76 points<br />
57 years or 77 points<br />
58 years or 78 points<br />
59 years or 79 points<br />
60 years or 80 points<br />
61 years or 81 points<br />
62 years or 82 points<br />
63 years or 83 points<br />
64 years or 84 points<br />
65 years or 85 points<br />
Percentage of benefit<br />
that you receive<br />
75.0%<br />
77.5%<br />
80.0%<br />
82.5%<br />
85.0%<br />
87.5%<br />
90.0%<br />
92.5%<br />
95.0%<br />
97.5%<br />
100%<br />
Deferred<br />
Vested benefit<br />
46%<br />
49%<br />
53%<br />
57%<br />
62%<br />
67%<br />
72%<br />
78%<br />
85%<br />
92%<br />
100%<br />
3
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