THE SOCIAL SECURITY OFFSET HELPS MAKE EARLY RETIREMENT AFFORDABLE
CAUTION!! You must notify Delta if you start drawing Social Security before your age of full eligibility or you may owe a large amount of money to the Plan for excess benefits that were paid to you.
Since 1971 the Delta Retirement Plan (DLP or Plan) includes a Social Security Offset as part of its final average earnings formula. The Social Security Offset feature is designed to be a bridge benefit to allow participants to retire early by providing a larger pension calculation prior to beginning their Social Security benefit. The above video is only an aid to help you understand the offset. It cannot be used to compute any particular retiree’s benefits because there are so many variations in personal situations. All figures are approximate. See Delta Retirement Plan Social Security Offset and Your Pension Plan; Myth vs. Fact.
Additionally, as an aid to understand Social Security Offset, Delta has an updated video on the Deltanet for Alumni website. Click HERE, log in, and on the home page under FINANCE click Pension Plans, and then click “Understanding the Delta Retirement Plan: Social Security Offset” video. Directly below the video is Pension Plan Documents which contains a detailed document, Understanding Social Security Offset, also prepared by Delta to further explain Social Security Offset with calculation scenarios and FAQ’s.
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