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Plan Overview

THE UNIVERSITY OF PENNSYLVANIA FRATERNAL ORDER OF POLICE PENNSYLVANIA LODGE 113 DEFINED BENEFIT RETIREMENT PLAN

Defined Benefit Plan
THE UNIVERSITY OF PENNSYLVANIA FRATERNAL ORDER OF POLICE PENNSYLVANIA LODGE 113 DEFINED BENEFIT RETIREMENT PLAN is a Defined Benefit Plan providing retirees with a predetermined monthly retirement benefit upon reaching a specific age. The retirement benefit paid to a retiree is typically calculated using a formula which often employs years of credited service under the plan and salary information. The retirement benefit is typically payable to the employee upon attainment of their normal retirement age for the remainder of his/her lifetime. Benefits under this type of plan are often referred to as accrued benefits. This type of plan does not maintain individual accounts for employees.

It is important to remember that under this type of plan, the Alternate Payee is typically not awarded a lump sum cash payment from the Plan. It is usually a requirement of the Plan that the amount awarded to the Alternate Payee be expressed in terms of a monthly benefit payable for either the lifetime of the Participant or the Alternate Payee.

Plan & Company Information:
CompanyUNIVERSITY OF PENN HEALTH SYSTEM DBA UPHS
3400 Spruce St
Philadelphia, PA 19104-4206
215-662-4000
Plan NameTHE UNIVERSITY OF PENNSYLVANIA FRATERNAL ORDER OF POLICE PENNSYLVANIA LODGE 113 DEFINED BENEFIT RETIREMENT PLAN
Plan Type Plan Type
Defined Benefit Plan
(Expanded Definition and Explanation)
Plan Administrator
4040 Chestnut St
Philadelphia, PA 19104-3020
215-898-9947
   
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