Retirement Factors
BCP Process
Pension Website
Final Average Pay
Cash Balance
100
This is the reduction factor the ptp would receive if he has 80 points and commences his benefits at age 56.
What is 80%?
100
The first of the month after termination.
When is the earliest a ptp can commence his pension?
100
This is what the active participant uses to log in to the pension website.
What is his/her Tesoro Network ID and password?
100
This is December 31, 2010 or the appropriate settlement date if Mandan or LAR are concerned.
When does the benefit service end?
100
This is the percentage of pensionable pay the ptp receives when he/she is 50 through 59 years of age.
What is 7.5%?
200
These are the determining factors of whether a ptp gets 38.2%, 50% or 75% of their pension when commencing at age 55.
What are age at termination and credited service?
200
20 days
What is the time it takes to perform final calculations for an active employee?
200
This is where the participant would find the SPD.
What is Your Retirement Program or Key Dates?
200
This is the last day the participant's highest compensation counts in the formula.
What is at termination?
200
This is one of the acquisitions during the cash balance plan.
What is Great Northern Midstream, BP Carson, Chevron, QEP Field Services, Dakota Prairie, or Flint Hills?
300
These are the participants who receive an unreduced pension at age 62.
Who are the 80 point and age 55 and 5 participants?
300
Earliest date the ptp will be paid a lump sum payment if he terms as an active employee on October 18th.
What is December 1st?
300
This the time period needed to set up access for a termed participant for the DV website, among other things.
What is the termination batch process?
300
Tesoro pays 0.5% on the amount earned over it.
What is the Social Security Wage Base?
300
This is where you would see the participant's bonus reflected in the cash balance panel.
What is a higher first quarter pay credit?
400
This is not affected by reduction factors.
What is the cash balance plan?
400
The earliest date the ptp can get his lump sum payment if he terms as an active employee on December 28th.
What is February 15th?
400
When the ptp sees he/she has a Restoration plan, this is the IRS limit for pay in a qualified plan.
What is $265,000?
400
This is where the ptp can go to see what his special pension comparisons are.
This is the appendix section of the SPD.
400
The addition of this is why the pension now has a three year vesting period.
What is the cash balance plan?
500
This is when the early retirement status is effective.
What is at termination?
500
Earliest date the ptp will be paid his annuity payment if he is an active employee whose last day is August 3rd.
October 1st?
500
This is why there are differences between the BCP and estimate numbers.
What is calculating with existing payroll data versus projected data to termination.
500
This is what the Final Average Pay formula is calculating.
What is the monthly Single Life Annuity amount at age 65?
500
This word is the main benefit to the cash balance plan and distinguishes it from all other plans.
What is portable?
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