Benefit Adjustment Schedule

Benefit Adjustment Schedule. That schedule established by the Compensation Committee for each Deferral Year to determine the annual payment amounts attributable to Deferred Income Benefits. Each Deferral Year's Benefit Adjustment Schedule will be constructed by applying an adjustment factor established by the Committee periodically to the related Benefit Schedule. Thus, payments beginning earlier than age 65 will be reduced on a present value basis for each year that the Participant's age when payments begin is less than... age 65. Payments beginning after the Participant is 66 will be increased on an annually compounded basis by a fixed percentage for each year that the Participant's age when payments begin is greater than age 65. The application of any Benefit Adjustment Schedule may be limited as provided in Subsection 7(c) of this Plan. View More