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Duane Morris Retirement Plan
The Duane Morris Employees' Pension Plan is a defined benefit plan. It provides participants with a monthly retirement benefit upon reaching a specific age,...
Overview
The Duane Morris Employees' Pension Plan is a defined benefit plan. It provides participants with a monthly retirement benefit upon reaching a specific age, calculated using a formula based on years of credited service and compensation. Benefits are generally payable for the participant's lifetime upon reaching normal retirement age, and the plan features a cash balance formula for determining benefits.
General information
Firm type
Pension Fund
Year founded
1904
Location
Region
North America
Country
United States
City
Philadelphia
Corporate office
Philadelphia, Pennsylvania, United States
Frequently asked questions
What type of retirement plan does Duane Morris maintain?
It is a defined benefit plan that pays monthly benefits for the participant's lifetime after normal retirement age.
How does the Duane Morris plan calculate benefits?
Benefits are calculated using a formula based on years of credited service and compensation, with a cash balance formula applied.
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