APS 2015 Annual Report Download - page 224
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Age at End of Plan
Year
Percent of Monthly
Compensation
Contribution Rate
Less than 35 12%
35-39 14%
40-44 16%
45-49 20%
50-54 24%
55 and over 28%
(3A) Group C Participants -- Individuals Becoming Participants on or after January 1, 2011. The provisions of
this Section 4(a)(3A), rather than Section 4(a)(3), shall apply to an individual who becomes an Officer on or after January 1, 2011.
Subject to Article 7, such an individual who is a participant who is eligible under Section 3(a) and who is a Group C Participant under
the Retirement Plan shall be entitled to a monthly benefit for life commencing at age 65 equal to the Actuarial Equivalent of a lump
sum benefit equal to (i) reduced by (ii), where
(i) Equals the participant's Supplemental Retirement Account Balance, and
(ii) Equals the participant's Retirement Account Balance under the Retirement Plan.
A Participant’s Supplemental Retirement Account Balance shall be a notional account credited with Monthly Retirement
Account Balance Credits and Interest Credits. For purposes of this Plan, Monthly Retirement Account Balance Credits shall be
determined under the general methodology set forth in the Retirement Plan based on the participant’s Monthly Compensation for the
month but using the following chart:
Age at End of Plan
Year
Percent of Monthly
Compensation
Contribution Rate
Less than 35 8%
35-39 9%
40-44 10%
45-49 12%
50-54 15%
55 and over 18%
(4) Compensation. For purposes of this Section 4(a), Compensation and Monthly Compensation shall be
determined without regard to the limitation set forth in Section 401(a)(17) of the Code and shall be increased by any cash payments
made to the participant pursuant to “year-end” bonus or incentive plans maintained by the Company or an Affiliate which
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