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In no event shall the applicable percentage exceed 20% plus 1%
for each fiscal year between the date of employment and the end
of the fiscal year in which the employee attains age 70. Any
service credit allowed for years of part-time employment shall
be computed on an appropriate fractional basis.

Annual supplemental retirement income, if any, shall be determined
according to the following equation or formula:

     Fixed Annual        Computedl          Computed2 Annual
     Supplemental        Minimum            Retirement
     Retirement     .    Annual        _    Benefit from
     Benefit             Retirement         TIAA/CREF
     LJ                 LBenefit             Accumulations

     lComputed as explained above in this section

     2Computed on the basis of assumptions in Section III.B.5.(a)

Under the conditions of this formula, an employee would receive
supplemental retirement income only if the computed annual retire-
ment benefit from TIAA/CREF accumlations is less than the computed
minimum annual retirement benefit to which the employee is entitled.

2. Group II Personnel

For each Group II employee (see I.B.1) who was employed prior to July 1,
1971, and who had attained age 40 as of that date and has at least 15
years of consecutive service at the date of retirement (normally age
65), the University will provide an annual supplemental retirement
income during the lifetime of the employee, where necessary, to assure
a minimum annual retirement benefit under the plan equal to 20% of the
basic annual salary received by the participant at the time of retire-
ment, plus 1% of that salary for each year of service at the University.
The amount of annual supplemental retirement income to be provided shall
be determined according to the formula provided in III.B.1.

Information regarding computation of the minimum annual retirement
benefit and annual supplemental retirement income for the participant
employed prior to July 1, 1964, and who has been continuously employed
since that date, is provided in Section III.B.l.

3. Group III Personnel

For each Group III employee (see I.C,1) who was employed prior to July 1,
1972, and who had attained age 40 as of that date and has at least 15
years of consecutive service at the date of retirement (normally age
65), the University will provide an annual supplemental retirement
income during the lifetime of the employee, where necessary, to
assure a minimum annual retirement benefit under the plan equal