Examples of Old Plan in a sentence
Employees under the Old Plan started membership prior to July 1, 1982 and are subject to plan provisions in effect prior to July 1, 1982.
Under the Old Plan, the state pays member contributions in excess of 1.25% of annual compensation.
Under the Old Plan, the New Plan, and GSEPS, a member may retire and receive normal retirement benefits after completion of 10 years of creditable service and attainment of age 60 or 30 years of creditable service regardless of age.
Under the Old Plan, these state contributions are included in the members’ accounts for refund purposes and are used in the computation of the members’ earnable compensation for the purpose of computing retirement benefits.
The member contribution rate made by or on behalf of ERS Old Plan members is 0.45% of payroll and the member contribution rate made by ERS New Plan members, LRS members and JRS members is 0.23% of payroll.