Plan P Improvements

Effective July 1, 2019, the following improvements will be made to the Plan:

  1. All existing post 65 participants with Plan P credits less than or equal to $13.00 will be raised to the $14.00 going forward. And,
  2. Participants retiring early (Pre-65) on or after July 1, 2019 that have 40 or more years of credit, will receive the full $58.00 Plan P rate. Listed directly below is a summary of Plan P rate history improvements.

Listed directly below is a summary of Plan P rate history and improvements.

Plan P Rate History

Prior to 01/01/2013 Rate
Age 55 - 64 $30.00
Age 65 $10.00
Between 01/01/2013 and 12/31/2013 Rate
Age 55 – 59 $30.00
Age 60 – 61 $40.00
Age 62 – 64 $50.00
Age 65 $11.00
On or after 01/01/2014 Rate
Age 55 – 59 $31.00
Age 60 – 61 $42.00
Age 62 – 64 $53.00
Age 65 $12.00
On or after 01/01/2015 Rate
Age 55 – 59 $34.00
Age 60 – 61 $46.00
Age 62 – 64 $58.00
Age 65 $13.00
On or after 07/01/2019 Rate
Age 55 – 59 $34.00
Age 60 – 61 $46.00
Age 62 – 64 $58.00
40 years of credits, regardless of age $58.00
Age 65 $14.00