BENEFITS & PLANS

Pension Plan Employee Booklets


Everyone who participates in the TRIO Pension Plan is categorized by their pension benefit option. Here is a copy of the Employee Information booklet for each of the defined benefit pension options. See below for a chart of the defined benefit pension options.

Contact your employer to confirm your benefit option.

Option 1
Option 2
Option 3
Option 4
Option 5
Option 6
Option 7
Option 8
Option 9
For 2012, the year’s maximum pensionable earnings are $50,100.00. Please refer to Section A. Eligibility in your employee booklet for relevance.

 

Option
Employee Contribution
(% of Salary)
Normal Retirement Age
Early Retirement Penalty
Condition for Optional Retirement at age 55
Benefit Formula
CPI Indexing
1 5.75% 65 4% per year (60-65)
6% per year (55-60)		 N/A 2% Best 5 No
2 7.25% 65 4% per year (60-65)
6% per year (55-60)		 N/A 2% Best 5 Yes
(max 6%)
3 8.75% 60 6% per year N/A 2% Best 5 Yes
(max 6%)
4 4.5%/6.0%
(up to/over YMPE)		 65 4% per year (60-65)
6% per year (55-60)		 N/A 1.4%/2% Best 5
(up to/over YMPE)		 No
5 9.50% 60 4% per year (55-60)
6% per year (50-55)		 85 "points" 2% Best 5 Yes
(max 6%)
6 7.50% 60 4% per year (55-60)
6% per year (50-55)		 80 "points" 2% Career Yes
(max 2%)
(post 2000)
7 6.75% 65 6% per year 80 "points" 2% Career
(1994 base year)		 Yes
(max 2%)
(post 1999)
8 5.25% 60 6% per year N/A 1.3% Best 5 Yes
(max 2%)
9 3.00% 65 N/A N/A Defined Contribution No