Opinion ID: 626080
Heading Depth: 2
Heading Rank: 4

Heading: Social Security Offset Formula Prior to Amendment Seven

Text: Prior to Amendment Seven, the Plan's methods for determining a participant's PSSBand thereby his Social Security offsetworked as follows. The Plan separated participants based on whether they had reached age 52 as of June 30, 2003. For a participant age 52 or older on June 30, 2003, the Social Security offset was determined by assuming the Participant had no income after June 30, 2003. This assumption of no future income meant no future Social Security contribution, which resulted in a smaller Social Security offset and a larger Plan benefit. As discussed later, Amendments Seven and Eight to the Plan did not change the no income offset formula for participants age 52 or older on June 30, 2003. However, if a participant had not reached age 52 by June 30, 2003, then the Plan (prior to Amendments Seven and Eight) determined the Social Security offset based on [1] whether the Participant terminates employment with [Delta] before or after June 30, 2010 and [2] whether the Participant is eligible for a retirement income benefit ... or a [termination] benefit. If that participant terminated employment before June 30, 2010, and was eligible for a retirement benefit, the Social Security offset was determined by assuming the Participant had 2003 Level Pay ... from July 1, 2003 to the date the Participant attains age 52. If instead that participant terminated employment before June 30, 2010, and was eligible for only a termination benefit, the Social Security offset was determined by assuming the Participant had 2003 Level Pay until the Participant attained age 65. If a participant terminated employment after June 30, 2010, the Plan provided that, regardless of whether the participant is eligible for a retirement or termination benefit, the Social Security offset was determined by assuming the Participant had no income after the earlier of the date the Participant attains age 52 or June 30, 2010.