Severance and TRW Heritage Retirement Overview - Benefits Online

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Employee Cost for Benefits Continuation –Cost Sharing Period• If you qualify under this Plan, you will receive a companysubsidizedextension of your medical, dental and visionbenefits from your layoff date, at active rates, equal to oneweek for each full year of service (counted from your mostrecent hire date)• This coverage continues for a maximum of 26 weeks• Example for an employee with 20 years of service:• Last day of work is October 28, 2011• Eligible for 20 weeks continued coverage (through March 17,2012)• Medical, dental and vision benefits would continue at no costthrough November 30, 2011 and then at active rates throughMarch 17, 2012• Coverage can then be continued under COBRA throughApril 30, 2013 at full COBRA rates8
Employee Cost for BenefitsContinuation – Full Cost Period• You pay 100% of the COBRA premium which is basedon the full group rate plus a 2% administrative fee• Coverage continues for the remainder of your 18month COBRA period, as long as premiums are paidon a timely basis• Benefit continuation under the Severance Plan isconsidered part of your COBRA continuation9
Page 1 and 2: The Northrop GrummanSeverance Plana
Page 3 and 4: Severance PlanEligibility
Page 5 and 6: Health Benefitsand Savings Plan
Page 7: Employee Cost for Benefits Continua
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 28 and 29: Vesting Requirements• Vesting mea
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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