retirement_calculator

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					Purpose : The Estimated Retirement Benefit Calculator tool was created to assist current employees in comparing their
annual retirement benefit under current retirement provisions and the proposed prospective change.



           Estimated Retirement Benefit Calculator
           Years of Service                  Multiplier             Average Final                Annual Benefit
Under Current Retirement Provisions
                                      X 2.0% X                                                                 0.00
Enter Years of Service                Multiplier               Average Final Compensation             Annual Benefit
Under the Proposed Prospective Change
                                      X 2.0% X                                     $0.00                          0.00
Current Years of Service              Multiplier               Average Final Compensation         Proportional Benefit
                                      X 1.9% X                                     $0.00                          0.00
Additional Years of Service                    Multiplier      Average Final Compensation         Proportional Benefit
                                                                                                                  0.00
                                                                                                Total Annual Benefit
                                                                             Annual Benefit             Total Annual
                                                                                                           Difference
                                                                                        0.00
                                                                                        0.00                     0.00

Years Required to Reach Maximum Retirement Benefit (75%)
          Years of Service                                            Multiplier                    Benefit %
Under Current Retirement Provisions

                  37.5                                                  X 2.0%                               75.00%
             Years of Service                                           Multiplier                    Annual Benefit
Under the Proposed Prospective Change
                                                                        X 2.0%                                 0.00%
      Enter Current Years of Service                                    Multiplier                Proportional Benefit
                  39.47                                                 X 1.9%                                75.00%
Additional Years of Service Required                                    Multiplier                Proportional Benefit
       To Reach Maximum Benefit                                                 Total Benefit                 75.00%
                                                            Additional Service Requirement             1.97
                                                            Under Proposed Change                     Years


To Use : Simply insert user data in the active cells. Additional years of credited service required to reach maximum
retirement benefit of 75% is calculated automatically.


Disclaimer: The estimates calculated in these worksheets are based on data entered by the employee and represent the
employee’s projected average final compensation and projected annual benefit. The estimated retirement benefit does
not necessarily reflect your actual final benefit. This spreadsheet is intended to be used as a tool for employees to
compare the difference between their annual retirement benefit under the current retirement provisions and the proposed
prospective changes. Date created 2/12/2008

				
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posted:10/17/2012
language:English
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