This contrasts with the structure of a defined - benefit plan, in which your employer uses a formula to calculate a specific monthly retirement allowance you'll receive when you retire. (us.etrade.com)
It is necessary to be on home billing for one billing cycle so your pension system has time to put your regular retirement allowance payment in place. (uft.org)
Member Benefits then submits this information to your pension system to start the deductions with your next regular retirement allowance payment. (uft.org)