The new Spectrum Retirement Plan is easier to understand, provides a portable benefit, and provides a benefit that is competitive in the marketplace. However, some Cooper people, especially those who accumulate long service or remain with the company until reaching retirement age, will receive a lower benefit under the new plan than they would have received if their previous plan remained in place for the duration of their career with Cooper.
Your benefit amount depends on a number of factors that cannot be determined with certainty, such as: