Benefit Formula. For the term of this Agreement, the basic formula will be twenty-seven dollars and thirty cents ($27.30) for the first (1st) ten (10) years, and thirty-six dollars and forty cents ($36.40) for each year thereafter. In all cases, the benefit will be the larger of the newly negotiated formula under this Paragraph, or the current accrued benefits through 1988, plus this new formula from 1989 forward. Participants with a separation in service on or before December 31, 1998 will have their benefits frozen at the previous amount.
Appears in 10 contracts
Samples: Retail Drug Agreement, Retail Drug Agreement, Retail Drug Agreement
