State of Delaware - Calculator - Diamond State Port Corp.

DIAMOND STATE PORT CORPORATION CALCULATOR

Compute your estimated monthly benefit (for those thinking about early retirement use the second calculator on this page).

This Calculation Worksheet is for Plan 3 or Plan B only. Calculation Worksheets for Plan 1 and Plan 2 will be added at a later date.

(a) Normal Retirement. A Participant may retire at any time on or after the Participant’s Normal Retirement Date and receive a pension at the annual rate of 1.75% of the Participant’s Final Average Base Salary multiplied by the Participant’s Years of Credited Service for up to 30 Years of Credited Service.

Helpful Hint: Do not use commas in the combined highest 3 year compensation field. For example, type 100000 instead of 100,000.

Estimated Credited Service
Enter your credited service up to 30 years:	Years Months

Enter your combined highest 60 consecutive months compensation* - then click "Compute".	$
This is your average monthly compensation	$
This is your calculation factor (monthly average X 1.75%)
This is your credited service
This is your estimated monthly benefit	$
Note: If you are experiencing problems with this calculator, please use Internet Explorer

* Final Average Base Salary means the average of the Participant’s annual Base Salary for those 60 consecutive months of the Participant’s last 120 months of employment with the Employer that produce the highest average.

(b) Early Retirement

With Reduction. A Participant may retire at any time on or after the Participant’s Early Retirement Date and receive a pension at the annual rate of 1.75% percent of the Participant’s Final Average Base Salary multiplied by the Participant’s Years of Credited Service, maximum 30 years, but such benefit shall be reduced by the full or partial calendar months by which the Participant’s benefit commencement date precedes the earlier of the Participant’s Normal Retirement Date or the date the Participant would first be eligible for unreduced benefits under the Rule of 90 based on the Participant’s credited service at time of retirement.

Rule of 90. A Participant may retire at any time on or after the Participant’s Early Retirement Date and receive a pension at the annual rate of 1.75% percent of the Participant’s Final Average Base Salary multiplied by the Participant’s Years of Credited Service, a maximum of 30 years, without reduction by a factor related to the time preceding the Participant’s Normal Retirement Date, provided that the total of the Participant’s age, which shall not be less than 55 years, plus number of Years of Credited Service is 90 or more.

Enter number of months reduced - then click "Compute".
This is your monthly reduction (months reduced X .004)	$
This is your estimated reduced monthly benefit	$

This estimate is for illustrative purposes only. Estimated calculations have been rounded to two digits. It is intended to assist with long-term financial planning. It is not a guarantee of benefits that may be available to a member at retirement. Any reliance on information obtained through this benefits estimator must be done solely at the user's own risk.

No decisions should be made regarding actual retirement choices based in whole or in part upon information obtained through this benefit estimator. Before making any final retirement plans, a member should contact an Office of Pensions benefits counselor. Nothing in this estimate is meant to extend or change in anyway the provisions expressed in the Plan. If there is a conflict between this calculation and the Plan, the Plan controls. All member accounts are subject to final audit. To obtain an estimate of benefits from the Office of Pensions, call 1-302-739-4208 or toll-free at 1-800-722-7300.

Last Updated: Friday, 28-Mar-2008 10:24:43 EDT

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DIAMOND STATE PORT CORPORATION CALCULATOR