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

More documents

Recommendations

Info

Northrop Grumman Retirement PlanPart A Benefit DescriptionJanuary 2008AppendixBenefits Excluded from 50% Maximum BenefitThe maximum annual Part A benefit you can receive from all Northrop Grumman pensionplans is generally limited to 50% of your final average earnings. This includes any benefitspreviously paid out or due to be paid in the future.The 50% maximum benefit applies to participants who accrued a benefit under this Plan, theRolling Meadows Plan, the Grumman Pension Plan, and the Northrop Grumman CommercialAircraft Division Salaried Retirement Plan, excluding the following benefits:• Benefits accrued before January 1, 1989, under the Rolling Meadows Plan• Benefits accrued prior to the acquisition of Grumman Corporation on April 16, 1994,under the:⎯ Grumman Pension Plan if the participant was an employee of Northrop Corporationon April 16, 1994⎯ This Plan or the Rolling Meadows Plan if the participant was an employee ofGrumman Corporation on April 16, 1994⎯ This Plan or the Rolling Meadows Plan prior to being employed with GrummanCorporation if the participant was an employee of:− Northrop Corporation on April 16, 1994− Grumman Corporation prior to April 16, 1994, and− Northrop Corporation prior to being an employee of Grumman Corporation• Benefits accrued before the acquisition of Vought Aircraft Corporation on August 31,1994, under the:⎯ Vought Plan if the participant was an employee for Northrop Grumman Corporationon August 31, 1994⎯ This Plan, the Rolling Meadows Plan, or the Grumman Pension Plan if the participantwas an employee of Vought Aircraft Corporation on August 31, 1994⎯ This Plan, the Rolling Meadows Plan, or the Grumman Pension Plan prior to beingemployed with Vought Aircraft Corporation if the participant was an employee of:− Northrop Grumman Corporation on August 31, 1994−−Vought Aircraft Corporation prior to August 31, 1994, andGrumman Corporation or Northrop Grumman Corporation prior to being anemployee of Vought Aircraft Corporation• Benefits accrued under the Hourly Rated Pension Plan of Northrop GrummanCorporation, Electronics System Division ⎯ Norwood Site• Benefits accrued under the Wilcox Hourly Retirement Plan.29
Northrop Grumman Retirement PlanPart A Benefit DescriptionJanuary 2008Service Included 30-Year Benefit Service MaximumThe 30-year benefit service maximum applies to participants in this Plan who did not accruea benefit in the Rolling Meadows plan, Grumman Pension Plan, or Vought Plan, other than:• Benefits accrued before January 1, 1989, under the Rolling Meadows Plan• Benefits accrued prior to the acquisition of Grumman Corporation on April 16, 1994,under the:⎯ Grumman Pension Plan if the participant was an employee of Northrop Corporationon April 16, 1994⎯ The Rolling Meadows Plan if the participant was an employee of GrummanCorporation on April 16, 1994⎯ The Rolling Meadows Plan prior to being employed with Grumman Corporation if theparticipant was an employee of:− Northrop Corporation on April 16, 1994− Grumman Corporation prior to April 16, 1994, and− Northrop Corporation prior to being an employee of Grumman Corporation• Benefits accrued before the acquisition of Vought Aircraft Corporation on August 31,1994 under the:⎯ Vought Plan if the participant was an employee for Northrop Grumman Corporationon August 31, 1994⎯ The Rolling Meadows Plan or the Grumman Pension Plan if the participant was anemployee of Vought Aircraft Corporation on August 31, 1994⎯ The Rolling Meadows Plan or the Grumman Pension Plan prior to being employedwith Vought Aircraft Corporation if the participant was an employee of:− Northrop Grumman Corporation on August 31, 1994−−Vought Aircraft Corporation prior to August 31, 1994, andGrumman Corporation or Northrop Grumman Corporation prior to being anemployee of Vought Aircraft Corporation.30
Page 1 and 2: Part A Supplement to the Northrop G
Page 3 and 4: Northrop Grumman Retirement PlanPar
Page 29: Northrop Grumman Retirement PlanPar

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

Create successful ePaper yourself

Delete template?

Save as template?