# retirement calculator by panniuniu

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```									                                                                   Vermont-NEA
Teachers' Retirement Worksheet: Pension
Use this chart to get a general idea how your pension, as a retired teacher, will look
(You should contact the state Retirement Office (802 828 2305) for more precise and detailed information )
START HERE: Just insert what your age on July 1, 2010 is and the year you began teaching
Developed late winter, 2010                                                   
Your age on June 30, 2010 ………………..                                          40     You will reach 'normal retirement age' by the summer of:                 2030
You began teaching in the fall of…..………                                   2000    It is when you can first retire without a reduced accrued pension, and
Your years of service as of June 30, 2010...                            10        it is the earlier of your age and your years of service:
Ÿ effect of age (65)                                            2035
in the fall of…." - the line below your age - accordingly)                        --- effect of 'rule of 90' (when years of service + age = 90)   2030
These are the %s of salary you pay toward your pension                          What your maximum % of "average final compensation" will be
During these school years          % salary       # years
before 1990-91                       0            0           Your pension will be a % of your average final compensation (AFC)
1990-91 and 1991-92                 2.75             0           Your AFC will be the average of your 3 highest consecutive salaries
1992-93 through 1998-99                3.7             0                 Your pension will be up to      60.00% of your AFC
1999-2000 through 2009-10                3.4            10                                                              age               60.00%
after 2009-10                       5    each year                                                              service years     60.00%
These are the annual rates at which you accrue your pension %               What % of AFC you will receive if you retire at NRA
Accrual rate       # years   Total %              If you retire at your normal retirement age, then:
Your years of service                1.25%               0.0    0.00%                            after the     2030       school year,
through the later of                 1.67%              10.0   16.70%                           and after      30.00      years of service,
20 years or 6/30/2010                1.67%              10.0   16.70%               your pension will be      53.40%      of your AFC

Your years of service                     1.67%        0.0  0.00%              When you accrue your maximum % of AFC
following the later of                    1.67%        0.0  0.00%   You will attain your maximum       60.00% of your AFC
20 years or 6/30/2010                     2.00%        8.3 16.60%                              after     33.30    years of service
2.00%        5.0 10.00%                      or after the      2033     school year
Totals                                              33.30  60.00%
****ESTIMATE YOUR OWN ANNUAL PENSION HERE****
Insert an estimate of what your average final compensation        what your pension would be if you retire at NRA                  \$32,040
might be to see what your maximum pension can be                  \$ 60,000        what your maximum annual pension can be                                \$36,000
Based on your present age and years of service what prior rules would have allowed it to be   \$30,000
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