Severance and TRW Heritage Retirement Overview - Benefits Online

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Vesting Requirements• Vesting means you have earned a non-forfeitableright to your Pension benefit.• Once you are vested, you will be eligible for aPension benefit even if you leave the companyprior to retirement age.• Employees who terminate on or after January 1,2008 are vested after completing 3 years ofvesting service– you accrue one year of vesting service for eachyear you work and are paid for 1000 or morehours28
• Normal RetirementWhen can you retire?The later of:– Age 65, or– Your age on the earlier of fifth anniversary of yourparticipation in the Plan and the date you complete 3 yearsof vesting service– Effective the first day of the month coincident with or nextfollowing your normal retirement age, as described above• Early Retirement– Age 55 with 10 or more years of vesting service– Effective the first day of any month coincident with orfollowing the date you become eligible• Historical pension plans may have different eligibilitydates29
Page 1 and 2: The Northrop GrummanSeverance Plana
Page 3 and 4: Severance PlanEligibility
Page 5 and 6: Health Benefitsand Savings Plan
Page 7 and 8: Employee Cost for Benefits Continua
Page 9 and 10: Employee Cost for BenefitsContinuat
Page 11 and 12: Paying for your Benefits• You wil
Page 13 and 14: Miscellaneous Information• If you
Page 15 and 16: Life and Accidental Death & Dismemb
Page 17 and 18: Northrop Grumman Savings Plan• Yo
Page 20 and 21: Retiree Medical
Page 22 and 23: Retiree Medical - Access Only Eligi
Page 24 and 25: Retiree Medical - Enrollment Option
Page 26 and 27: Northrop GrummanPension Program•
Page 30 and 31: Retirement Eligibility• TRW Herit
Page 32 and 33: TRW Heritage -Part A Lump Sum Optio
Page 34 and 35: Payment Options• Parts A, greater
Page 36 and 37: Northrop Grumman Benefits Center (N

Severance and TRW Heritage Retirement Overview - Benefits Online

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