A Major Asset About Your MTS Pension Plan How Does My Pension Plan Work? How Do I Become A Member Of The Plan? Who Contributes What? What Will I Get From The Plan? Can You Give Me An Example? When Can I Retire? How Is My Pension Paid? Does My Pension Offer Any Inflation Protection? What Happens If I Leave MTS Before I Retire? What If I Become Disabled? Are My Survivors Protected? What If I Need More Information?	You are in: The Plan : Publications : Employee Booklet : Can You Give Me An Example?   Can You Give Me An Example? Let’s consider an employee who retires from the Plan at age 65 with 30 years of Credited Service and Best Average Earnings of $40,000. If we assume an Average YMPE of $35,000, it’s just a matter of plugging in the numbers.  2.0% X $40,000 (Best Average Earnings) $ 800     multiplied by      30 (Years of Credited Service) X 30   $ 24,000 less      0.6% X $35,000 (Average YMPE) $ 210     multiplied by      30 (Credited Service after December 31, 1965) X 30   $ 6,300 equals      $24,000 - $6,300 $ 17,700 The actual benefit you receive will be affected by a number of factors, including your earnings, your age at retirement, your years of Plan membership, and whether or not you have a spouse at retirement. To help you with your retirement planning, the Company will provide you with an annual pension statement. This statement outlines, among other things, the value of the pension you have earned to date and the projected pension you can expect to receive from the Plan at retirement.
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