Supplemental Retirement Account (SRA)

• The SRA is an additional means of providing retirement benefits in partnership with the Primary Retirement Benefit. Each worker enrolled on 1/1/99 had a “kick start” opening account balance established in an amount as follows:

1.5% times 1/1/98 annual compensation* times years of CRP creditable service

• Workers enrolled with an effective date of 1/1/99 or later have a zero account balance in their first year of membership.

• The account grows each year through the addition of interest credits and compensation credits.

• An interest credit, using the 5-year U.S. Treasury rate in effect for September of the prior year, is added to each account at the end of each year, starting 12/31/99.

• A compensation credit, equal to 1.5% times annual compensation* in effect on January 1 of that year, is added to each account at the end of each year, starting 12/31/99.

• SRA accounts are vested after 5 years of CRP participation.

• Upon retirement or termination of employment, if vested, members have the option to receive their SRA in a lump-sum payment, single life annuity, joint and 70% or joint and 100%, survivor annuity, or Ten-Year Certain and Life Annuity (paid during the workers' lifetime)**

* Compensation includes the basic wage or salary paid to a worker plus 25% of the basic wage if employer furnishes housing, any cash utility allowance, and any cash housing allowance.