Electrical Orientation Level III Practice Exam

The amount assigned to each benefit service credit is the value used to convert credits into a retirement benefit. The current rate is $32.00 per benefit service credit. This means that for any total number of credits, the benefit portion grows by $32 for each credit. So your total benefit from service credits is simply total credits multiplied by $32 (subject to the plan’s specific rules and adjustments). The other dollar figures would represent different, non-current rates and aren’t used to calculate the present benefit.