Transcription of ADM Retirement Plan
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ADM Retirement Plan
Salaried Summary Plan DescriptionADM Retirement PlanTRADITIONAL PLAN PARTIcIPANTs Table of Contents Introduction .. 1 About This Booklet .. 2 Plan Highlights Traditional Formula .. 4 Eligibility .. 6 Your Service .. 8 Your Pay Under the Plan .. 10 Your pension benefits .. 12 Normal Retirement .. 14 Early Retirement .. 17 Vested pension .. 19 How Traditional Formula benefits Are Paid .. 20 Survivor benefits Traditional Formula .. 24 Taxation of Distributions .. 26 Special Rules for Transfers and Rehires .. 28 Claims .. 30 General Information .. 34 Statement of Rights of Plan Participants.
You are eligible for normal retirement for your traditional formula benefit at age 65 with five or more years of continuous service, or early retirement at age 55 with 10 or more years of continuous service. Traditional Pension Formula Basic Benefit Your basic pension benefit payable at normal retirement age is calculated as follows:
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