Insurance/Retirement Committee
RETIREMENT
The most important fact to remember when you prepare for your retirement from Northwest Airlines is that you must be at least 55 years old to be considered a 'retiree'. If you are not age 55 or older, then you will be deemed a 'resignation', not a retirement. You also need to be age 55 in order to receive passes. Another important fact to remember is that you have to have 23 years of benefit service to receive the Company subsidized medical insurance. In addition, you must have 27 years of benefit service to receive the 3% per year reduction under the age of 62. If you do not have 27 years of service, your pension will be reduced by 7% per year for every year under the age of 62. That means if you retire at age 55 without the 27 years of service, you will lose 49% of your accrued pension benefit.
To get an idea of what your individual retirement benefit might be, visit the NWA RADAR website. After you log in, go to 'Pay and Benefits'. Scroll down to 'Pension Plans' and click. Click on 'Pension Plans for Contract Employees' and then click on 'Your Current Pension Benefit'. You can view the amount of your accrued pension and you can also see your benefit and vested years of service. Print out this information and if you have questions, call the NWA Pension Benefit Department at 1-800-NWA-BENS to review or confirm your benefits.
If you have questions after speaking with the Benefits Department, please feel free to give me a call regarding retirement issues.
Kathy Dunham
MEC Insurance & Retirement Committee Chair
E-Mail: kdunham@nwaafa.org
Phone: 952-241-4127
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