The current benefit rate per benefit service credit is how much?

The current benefit rate per benefit service credit is how much?

• A. $28.50
• B. $32.00
• C. $40.00
• D. $36.50

Answer: (B)

The amount assigned to each benefit service credit is the value used to convert credits into a retirement benefit. The current rate is $32.00 per benefit service credit. This means that for any total number of credits, the benefit portion grows by $32 for each credit. So your total benefit from service credits is simply total credits multiplied by $32 (subject to the plan’s specific rules and adjustments). The other dollar figures would represent different, non-current rates and aren’t used to calculate the present benefit.

The amount assigned to each benefit service credit is the value used to convert credits into a retirement benefit. The current rate is $32.00 per benefit service credit. This means that for any total number of credits, the benefit portion grows by $32 for each credit. So your total benefit from service credits is simply total credits multiplied by $32 (subject to the plan’s specific rules and adjustments). The other dollar figures would represent different, non-current rates and aren’t used to calculate the present benefit.