2013.013

Pflug, Dean

Gift

Gift of Dean Pflug.

1945 - 1945

Date(s) Created: 1945 Date(s): 1945

Good

Notes: Archives 2013.013.0002 ==== [cover title] Your Life at Lipton! ==== [page 1] PENSION PLAN OF THOMAS J. LIPTON, INC. EFFECTIVE DECEMBER 1. 1945 This Booklet describes the pension benefits of each member whose Retirement Pension under the Plan is provided by a Group Annuity Contract. ==== [page 3] INDEX TO BOOKLET Page No. DIGEST OF PENSION PLAN— 1. What is the purpose of the Plan......................................................5 2. Who pays the cost of the Plan..................................................................5 3. When does an employee become a member 5 4. When is the Retirement Pension payable............6 5. How much is the Retirement Pension....................................7 6. What is the meaning of Annual Basic Pay 9 7. How is the Retirement Pension calculated when an employee first becomes a member of the Plan ............................................................................... 9 8. Will the final Retirement Pension reflect increases in basic pay......................................................... 10 9. Will the final Retirement Pension be reduced if basic pay is decreased .............................. 11 10. For how long is the Retirement Pension payable ......................................................................................... 12 11. How will the Retirement Pension be provided ............................................................................................... 13 12. What are a member's benefits if his employment terminates before his normal retirement date...................................................................................... 13 13. Can a member retire before his normal retirement date........................................................................ 15 14. Is time in military service counted as employment ...........................................................-......................... 16 15. How is the Plan administered................................. 17 ==== [page 4] INDEX TO BOOKLET (continued) Page No. 16. Future of the Plan............................................................... 17 17. How can a member get more information about the Plan ...................................................................... 17 Appendix A—Optional forms of pension........................ 18 Appendix B—Military service provisions........................ 22 Appendix C—Description of social security benefits 24 ==== page 5 Digest of PENSION PLAN 1. WHAT IS THE PURPOSE OF THE PLAN The purpose of the Plan is to provide for the payment of a definite amount of Retirement Pension for each member. This Retirement Pension is in addition to all of a member's Social Security benefits. (See Appendix C on page 24 of this booklet for a brief description of Social Security benefits.) This Retirement Pension, when added to his own savings and his Social Security income, will put a member in a better position to enjoy his retirement. 2. WHO PAYS THE COST OF THE PLAN The entire cost of the Plan is paid by Thomas J. Lipton, Inc. and Continental Foods, Inc. 3. WHEN DOES AN EMPLOYEE BECOME A MEMBER The original entry date was December 1, 1945,—the date the Plan was adopted. In each year after 1945 there are two entry dates, which are June 1 and December 1. [end page 5] ==== ==== Status: OK Status By: dw Status Date: 2013-04-04