Scenario

Factors that Impact Retirement

Results

Current Age: 42

Years Taught: 19

Years in Administration: 0

Sick Leave: 120 days

Under 20 years
(
60 years old/35 years of service)

Sick leave capped at 120 days.

Retirement Age: 60

High-3 Calculation: $71,355.50

Estimated annual benefit: $66,003.83

OR (Based on teacher’s choice)

Retirement Age: 50

High-5 Calculation: $65,692.31

Estimated annual benefit: $44,342.31

Current Age: 44

Years Taught: 21

Years in Administration: 0

Sick Leave: 120 days

Over 20 years
(55 years old/27 years of service)

Sick leave capped at 120 days

Retirement Age: 50

High-3 Calculation: $70,833.86

Estimated annual benefit: $47,812.85

Current Age: 27

Years Taught: 3

Years in Administration: 0

Sick Leave: 22 days

Under 20 years
(
60 years old/35 years of service)
OR
could switch to cash hybrid (Rule of 87, age 55).

Sick leave capped at 32 days.

Retirement Age: 60

High-3 Calculation: $60,985.33

Estimated annual benefit: $54,886.80

OR (Based on teacher’s choice)

Retirement Age: 51

High-5 Calculation: $59,515.77

Estimated annual benefit: $40,173.15

OR (Based on teacher’s choice)

Retirement Age: 55

Estimated annual benefit
(cash hybrid, assumed 4% return, benefit for 40 years): $48,000

Current Age: 50

Years Taught: 26

Years in Administration: 0

Sick Leave: 200 days

Over 20 years
(55 years old/27 years of service)

Sick leave capped at 200 days

Retirement Age: 51

High-3 Calculation: $79,237.32

Estimated annual benefit: $53,485.19

Current Age: 44

Years Taught: 18

Years in Administration: 4

Sick Leave: 100 days

Over 20 years
(18 years teaching +4 years as administrator)
(55 years old/27 years of service)

Sick leave capped at 100 days

Retirement Age: 49

High-3 Calculation (including lowest admin. pay increase=11%): $94,392

Estimated annual benefit: $63,714.83

Newly hired Teacher

Age: 22

Hybrid Cash Balance enrollee

Rule of 87 (Min. age 55)

Retirement Age: 55

Estimated annual benefit
(cash hybrid, assumed 4% return, benefit for 40 years): $54,000