Heritage NOC Pension information

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Heritage NOC Pension information

Retirement Plan Overview

For Northrop Heritage Employees


Heritage Northrop Retirement Plan Benefits

Part A

Part B

5-Year Transition

Benefit

Part D

Your

benefit

under your

historical

plan

formula

through

06/30/03

Your benefit

under the

cash

balance

formula

beginning

07/01/08

Your benefit based on

+

a formula similar to the

+ =

one under your

historical plan formula

from 07/01/03 –

06/30/08

or

Whichever is greater

Part C

5-Year Transition Benefit

Your benefit under

the cash balance

formula from

07/01/03 – 06/30/08

Your

pension

benefit

2


Early Retirement Factors

Northrop Grumman Retirement Plan

Your age or points

when payments begin

55 years or 75 points

56 years or 76 points

57 years or 77 points

58 years or 78 points

59 years or 79 points

60 years or 80 points

61 years or 81 points

62 years or 82 points

63 years or 83 points

64 years or 84 points

65 years or 85 points

Percentage of benefit

that you receive

75.0%

77.5%

80.0%

82.5%

85.0%

87.5%

90.0%

92.5%

95.0%

97.5%

100%

Deferred

Vested benefit

46%

49%

53%

57%

62%

67%

72%

78%

85%

92%

100%

3

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