Retirement Eligibility Chart

Updated: April 15, 2003

NOTE: Both Current and Proposed Plans require 10 + Years of Service (apply 10 years of service to each of the categories below)

Age on 5/1/03 And Age on 6/30/03 Eligible to retire prior to 6/30/03 Eligible to retire after 6/30/03 Eligible to receive pension at age 50 Reduction in Pension benefit below age 60 Pre-Medicare Retiree Benefit before 6/30/03 Pre-Medicare Retiree Benefit after 6/30/03
Under 50 Under 50 No Must wait until age 55 Yes* 3% per year N/A N/A
Under 50 50 Yes Must wait until age 55 Yes 3% per year Current N/A
50-54 50-54 Yes Yes Yes 3% per year Current Proposed
55-59 55-59 Yes Yes Yes 3% per year Current Proposed
60-64 60-64 Yes Yes Yes No Reduction Current Proposed
65+ 65+ Yes Yes Yes No Reduction Current Medicare plus Supplement **

* Not considered retired, but will be eligible to terminate and receive vested (employee is vested at 5 years of service) "frozen" pension at 50.

** Proposed to be one or more supplemental plans to Medicare will be offered with the retiree paying the full cost of the coverage minus a Company contribution of $90 per month.

Pre-Medicare Retiree Benefit after 6/30/03

Length of Service % Cost of the Company Premium
Fewer than 20 80%
20-24 60%
25+ 40%

Former Pan American Flight Attendants

Pension benefit calculations are based on number of years with United only. Other service requirement calculations including retirement age, and medical coverage will be based on years of service with Pan Am and United combined.

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