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Exempt Employee Retirement InformationThe BNSF Retirement Plan (Pension Plan) is a qualified, defined benefit pension plan, which provides retirement benefits to eligible salaried employees. The pension plan is employer paid and benefits are insured by the Pension Benefit Guaranty Corporation (PBGC). The pension plan is intended to be one of several sources of retirement income. Other sources of retirement income may include 401(k) plan savings, benefits from the Railroad Retirement Board, benefits from Social Security, and personal savings. OverviewSalaried employees are considered participants in the pension plan when they complete one year of salaried service, provided that they are at least 21 years of age. Benefits accrued under the pension plan are based on an individual's exempt service final average earnings, and age benefits are commenced. Individuals may elect to take early retirement at age 55, provided they have at least 10 years of vesting service. If you leave an affiliated company before your Early Retirement Eligibility Date, but after you complete 5 years of Vesting Service, you will be entitled to a vested right benefit. You should refer to the Summary Plan Description (SPD) for further details. You may link to the SPD at http://www.bnsf.com/employees/retirees/exempt/summary.html, request a copy, or direct any retirement questions by calling the Retirement Helpline at 1-877-451-2363. BNSF Railway Company has partnered with Mercer Human Resource Consulting to administer the BNSF Pension Plan. The Retirement Team at Mercer handles all issues related to the administration of the pension plan. The Retirement Team can be reached by phone at 1-877-451-2363. The phone number will allow you to use the Interactive Voice Response (IVR) system to gain information or to talk with a Retirement Team member. The IVR is available 24 hours a day, 7 days a week. Retirement Team members are available during business hours from 9:00 a.m. through 5:00 p.m. Central time. |
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