Your Yearly AERP Pension Update

Annual pension benefit statements are mailed at the end of December.

Unit Payment Values

	2023	2024
Variable Benefit	$10.5745	$11.1846
Alternate Variable	$1.8887	$1.9014
Portfolio A	$2.2543	$2.2218

Fixed Benefit COLA 2024:

Participants that were originally hired before January 1, 1985: 2.0%
Participants that were originally hired on or after January 1, 1985: 2.0%

Fixed Benefit COLA 2023:

Participants that were originally hired before January 1, 1985: 2.0%
Participants that were originally hired on or after January 1, 1985: 2.0%

More information may be found on the Aerospace Retirees’ website. retirees.aerospace.org

ARC Members,

Aerospace is in the midst of its Annual Holiday Gift Drive; again, it’s entirely virtual.  The drive is ending early this year – December 1st, only a week from now – but if you can support it, here is the information from Corporate Affairs and Communication:

Aerospace Virtual Holiday Gift Drive

There’s still time to participate in the 2023 Aerospace Holiday Gift Drive, which ends on December 1! The initiative allows us to spread the joy and warmth to those in need this festive season. We invite each and every one of you to be part of this wonderful tradition at Aerospace and make a meaningful difference in your community!

Here’s how you can participate:

• Participate in the Aerospace Virtual Holiday Gift Drive
  1. Find an agency to purchase for, review the wishlists, and select a gift to give (instructions here).
  2. Or donate by contributing directly via Venmo to @AerospaceHGD

Thank you for joining us in making this holiday season a little brighter for those less fortunate.

Lianne McGinley
Corporate Affairs and Communication
The Aerospace Corporation

Open Enrollment period for retirees is 12/3 – 12/10.  2024 charts and eGuide will be posted by 12/3.

If you are currently covered by an Aerospace Medicare HMO plan, you must switch to the Aerospace Anthem Medicare Preferred PPO  or register for a new plan with Alight or coverage will be terminated effective 12/31/23. 

Alight Retiree Medical Presentation

Aerospace also notes that our 2024 AERP pension variable unit values will be mailed at the end of December. In the past, the new unit value would have been posted on the webpage before the end of December, but that’s much more uncertain these days.

Your Yearly AERP Pension Update

Annual pension benefit statements are mailed at the end of December.

Unit Payment Values

	2022	2023
Variable Benefit	$13.2181	$10.5745
Alternate Variable	$1.9506	$1.8887
Portfolio A	$2.4627	$2.2543

Aerospace recently published updates to the AERP Pension Report and FAQs.

It is available on the Aerospace Retiree’s Portal

Please click here to access the Aerospace Retirees’ Portal, where the company has listed the 2023 variable unit value and the fixed benefit COLA.

Additional pension plan information can be found on the same page under the “Retirement” drop-down menu. If you’re interested in seeing the history of the variable unit values back to 1990, please click here. 

The “Payment Value” column is the number used to calculate the variable portion of our pension payment (multiply the variable unit value by the number of units you have; that number can be found on your annual Northern Trust statement). 

To preserve history, ARC is capturing the variable unit values back to 1961; we’ll post it here on the ARC website when it is completed.