Free Sample Retirement Plan Policy
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Sample Retirement Plan Policy


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Retirement Plan

Policy Rationale

To provide retirement income for employees.

Eligibility

For all employees employed for at least  months, membership in the retirement plan is a condition of employment.

Vesting

Retirement benefits are vested upon completion of  full years of credited service.

Contributions

Employer ABC matches employee contributions at a rate of .

Benefits

Pension payments are based upon the employee's highest average salary earned during  consecutive months of service and the employee's age at retirement. Benefits for employees who achieve  years or more of credited service, the retirement benefit will equal  percent of their average salary multiplied by their years of credited service. For less than  years of service, the retirement benefit will equal  percent of the average salary multiplied by years of service.

The maximum pension payable is limited to  percent of the employee's average salary.

Employees may retire at age 55 with full benefits.


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