I did ask the administrator. Here was the answer:
"On your quote it tells you clearly that your pre-62 retiree benefits are and the line below what you circled are the benefits for that option as soon as you turn 62 when the estimated social security amount reduces the monthly payment (shown as...
I retired at age 56 in 2006. I was eligible for a small pension at that time. This was presented to me:
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(This is verbatim from my Employee Handbook)
LEVEL INCOME BENEFIT OPTIONS:
These optional benefit...