Common use of Monthly Pensions Payable Clause in Contracts

Monthly Pensions Payable. Effective January 1, 2001, the basic pension benefit will be equal to $50 per month times years of service with a maximum credit of 35 years of service. Effective January 1, 2001, there shall be a basic pension benefit equal to $52 per month times years of service, with a maximum credit of 35 years of service, for those employees who retire between January 1, 2001 and December 31, 2003. Effective January 1, 2004, the basic pension shall be equal to $50 per month as listed above. Effective January 1, 2001, the pension supplement will be equal to $20 per month times years of service with a maximum credit of 30 years of service.

Monthly Pensions Payable. Effective January 1, 20011998, the basic pension benefit will be equal to $50 45 per month times years of service with a maximum credit of 35 years of service. Effective January 1, 20011998, there shall be a basic pension benefit equal to $52 48 per month times years of service, with a maximum credit of 35 years of service, for those employees who retire between January 1, 2001 1998 and December 31, 20032000. Effective January 1, 20042001, the basic pension shall be equal to $50 45 per month as listed above. Effective January 1, 20011998, the pension supplement will be equal to $20 per month times years of service with a maximum credit of 30 years of service.

Monthly Pensions Payable. Effective January 1, 2001, 2013 the basic pension benefit will be equal to $50 65.00 per month times years of service with a maximum credit of 35 years of service. Effective January 1, 20012014 the basic pension will be equal to $66.00 per month times years of service with a maximum credit of 35 years of service. Effective January 1, 2015 the basic pension will be equal to $67.00 per month times years of service with a maximum credit of 35 years of service. Effective January 1, 2013 there shall be a basic pension benefit equal to $52 67.00 per month times years of service, with a maximum credit of 35 years of service, for those employees who retire between January 1, 2001 2013 and December 31, 20032015. Effective January 1, 20042013, the basic pension shall be equal to $50 per month as listed above. Effective January 1, 2001, the pension Pension supplement will be equal to $20 30 per month times years of service with a maximum credit of 30 years of service.