- You are assumed to be vested in both the traditional benefit (5 years of credited service) and the new sustainable income benefit (3 years of service) when you retire (if not already). You must be vested to receive retirement benefits.
- Your contribution rate for future hours worked is assumed to be equal to the rate in your most recent benefit statement. This is calculated from your most recent year's benefit accrual divided by the number of hours you worked during that period divided by the accrual rate of 0.9%. We have estimated that amount to be $2.50.
- To the extent the actual rate contributed is different, your benefit at retirement will be different. Actual benefits will depend on actual hours worked, actual hourly contribution rate, and actual plan investment returns.
- Stocks – the S+P 500 Index
- Bonds – from 1955 to 1979 a mix of 40% 3-Month Treasury Bills and 60% 10-Year Treasury Bonds, from 1980 to 1990 the Barclays Aggregate Bond Index.
If the projection goes beyond the 2021 historic returns, an assumed rate of return of 6% is used.
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