The official announcement is made and the calculators are programed at Fidelity. The 2010 GATT rate is 4.31% and is obviously an increase from our current 2009 rate of 4.0%.

REMEMBER THE RULES:

1. When the GATT rate goes up; less money is received in the lump sum distribution.
2. GATT rates do not impact monthly annuities or pension band rates.
3. To get this years GATT Rate and Next Years Vacation; your last day on payroll MUST BE DECEMBER 31, 2009.
(The reason for this is found in Article 2 under Vacation Year Definition which defines the year as Dec 31 - Dec 30)
4. To get the 2% Pension Band Increase, next year's GATT Rate, + next year's Vacation, your last day on payroll should be
Jan 1 - Dec 30. The 2% increase will help offset some of the loss.
5. The PPA implementation does not begin until March 31, 2012.

The GATT Rate should not be the only factor in determining when it is time to retiree. Please seek financial counsel when deciding what the best course of action is for each of you.