CAPP Study

• As of 11/2005
• 37,419 Actives
• 69,851 TVs

Later of age 21 and one year of Elig Svc (1,000 hours in first anniv year or any calendar thereafter)

Begin and end dates round to FOMCWNF

Plan year (1/1-12/31) in which 1,000 hours are worked

• DOT < 1/1/08, vested after 5 years of VS
• DOT >= 1/1/08, vested after 3 years VS

• BIS = Plan year with < 501 Hours
• Prior Svc disregarded if BIS >= 6 years

Last full year (no LTD, Sick, Term-rehire, 1000 hours worked) is used. No increase applied to that rate for calc year. Partial years are prorated by actual days worked / 365

Last full year used, but it there is a year with 1,000 hours after the last full year, actual comp is used in that year

Unrounded rate is projected forward and rounded down to the nearest multiple of $5,000

• Plan Year >= 1997
• Participant earns a year of VS
• Participant is a participant for at least one day
• Participant earns compensation

• Only Comp after the DOP (prorate). Pay Cr % based on years of VS at the beginning of the year
• 0-2: 2.0%
• 3-4: 2.5%
• 5-9: 3.0%
• 10-14: 4.0%
• 15-19: 5.0%
• 20-24: 6.0%
• 25+: 8.0%

• Rate: MAX(5.25%, 30-Year from Nov prior)
• [1 + (i^0.25)] - 1

• Active on January 21, 1997
• Hourly on 1/21/97
• Paid at least 501 hours in 1996
• At least 55 at DOT and hired < 5/30/87 OR Hired prior to 5/30/67

• Based on Comp in 1996 and location
• >=20k: NY - 17,500; Other - 15,000
• 10-20k: NY - 12,500; Other 10,000
• <10k: NY - 7,500; Other - 5,000

• Active on 2/23/99
• Hourly on 2/23/99 and not CBA covered
• Paid at least 501 hours in 1998
• At least 55 at DOT and hired < 6/30/89 OR Hired prior to 6/30/69

• Based on Comp in 1998
• >=20k: 20,000
• 10-20k: 15,000
• <10k: 10,000

• Western Conference of Teamsters
• Local 852 IBT "Affected Participants"

• Prior Plan benefit as of 12/31/96 ERF & OF under prior plan and compared to CAPP options
• TBD - CAPP AE ERF applied and greater benefit applied

If ppt was 55 & 10 before 1/1/02, eligible to have prior plan provisions continued and minmium benefit based on that compared to CAPP (all options available under Prior Plan except SLA)

• Pay from YOH + 1 projected back at NAE
• Pay from last full year of employment is projected levelly foward through the SSNRA.
• [Need bridging rules]

FOMF MAX(65th, 5th anniversary of DOP)

As long as vested, any time after DOT

No Increase, just CAPP balance to Determination Date

Earn Pay and Interest Credits through NRD.

No Interest

Calculatio of the CAPP not affected by the participant continuing to work past age 70 ½.

• No Plan Basis
• Prior November lookback for PPA

SLA, 50JS, 66JS, 75JS, 100JS, 5CL, 10CL, 20CL, SSLIO, LS

• All based on 100% J&S Factor
• 100% J&S Factor = 0.800 + [0.005 * 65 - BCD Age)] + 0.01 * (BeneAge - BCDAge)]
• 75JS = (4 * 100JSFact) / (3 + 100JSFact)
• 66JS = (3 * 100JSFact) / (2 + 100JSFact)
• 50JS = (2 * 100JSFact) / (1 + 100JSFact)

• Base Factor + [Adj Factor * (65 - BCDAge)]
• 5CL: Base = 0.980; Adj = 0.003
• 10CL: Base = 0.940; Adj = 0.006
• 20CL: Base = 0.800; Adj = 0.015

Under $1,000

• Spouse can take LS (= Ppt's LS) or Defer Annuity (=Ppt's annuity)
• Non-Spouse only can take Immediate LS