Part A Supplement to the Northrop Grumman ... - Benefits Online

Northrop Grumman Retirement PlanPart A Benefit DescriptionJanuary 2008If you elect the lump sum form of payment for your Part A benefit, you must make a directrollover to an IRA or to another qualified plan in order to defer income taxes on thepayment. Any taxable amount not directly rolled over will have 20% automaticallywithheld for federal income taxes.Fixed and Variable OptionFor participants who were employed by Northrop Grumman prior to 1975, there is a specialFixed and Variable option.If you elect this option, the benefit payments are adjusted quarterly based on the investmentperformance of the assets of the Northrop Grumman Pension Plan.27