Kenyatta Lockett

Information About Retirement Income in Norfolk

The retirement income in Norfolk plan of Norfolk Southern Corporation and Participating Subsidiary Companies provides an additional level of financial security through:

A monthly retirement benefit for life where the amount of monthly benefit is generally based on your pay and the length of service with the Norfolk Corporation or a participating subsidiary.

Flexibility in choosing a retirement date where you may be able to retire with a monthly benefit before you become eligible for government benefit.

Added security for your surviving spouse or your same-sex partner, benefits may be payable after your death.

One is eligible to participate in the plan the first day you perform service for compensation in a non-agreement, this means that the rates of pay are not governed by the provisions of a collective bargaining agreement.

Vesting is the right to receive 100 percent of your accrued retirement income. You will be vested in your accrued benefit when you have been employed in a non agreement position and you are employed with NS for 60 months or complete five of service with NS or you attain the age of 62. You will forfeit your benefit if you terminate employment before you are vested. You will be credited with a year of service for vesting purposes if during any 12 consecutive month period you are credited with 1000 hours of service or more.

The normal retirement age under the plan is 65 or at the age of 60.However unless you are a vice president or at that level, you may continue working past 65 as long as you are physically and mentally capable of performing the requirements of your job. You may also retire with full pension benefits at the age of 62 or at age 60 with 10 years of service, including at least five years of credible service.

You may retire between ages 60 and 62 if you are vested, however if you do not have 10 years of service including at least five of credible service, your benefit will be reduced by 1/180 for each month you are under age 62 at the time of retirement.

Average financial compensation multiplied by 1.5% times your years of credible service but not more 40 years of credible service which would be equivalent to a maximum of 60% of your average final compensation.

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