The Pension Plan is 100% company-funded — there are no contributions from you.
Eligible associates can also save for retirement by contributing to the 401(k) Plan
Eligibility
Hourly associates begin earning credited service when they turn 21, have 12 months of service and have worked 1,000 hours.
Salaried associates are eligible for grandfathered benefits if they were one of the following as of December 31, 2018:
- age 55+ with 10 years of service
- age 60+ with five years of service
Benefit amount
Your benefit is calculated at a flat rate of $40 per month per year of credited service, up to 30 years.
Calculate your pension plan estimate
Notes:
- If you are a grandfathered salaried associate, you will continue to earn benefits in the pension plan under the benefit formula in effect December 31, 2018.
- If you were eligible for the Pension Plan prior to January 1, 2019, and are no longer eligible, any benefits earned on or before December 31, 2018, have been frozen. You will keep any benefits earned through December 31, 2018, subject to the Pension Plan’s vesting rules.
Learn more
View Understanding Your Retirement Program for Hourly Associates or FAQs for more information.