A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z | AA | AB | AC | AD | AE | |
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1 | Stop Working in TRS at Age | 55 | Stop working in a TRS covered job | ||||||||||||||||||||||||||||
2 | Draw Pension at Age | 55 | Age you start drawing TRS pension (make sure you verify you qualify for full retirement or enter in the early retirement reduction in B16 if you don't) | ||||||||||||||||||||||||||||
3 | Years of Service | 32 | TRS years of service at retirement. | ||||||||||||||||||||||||||||
4 | Current 403b/457/IRA Balance | $0 | Current balance in your tax-advantaged account | ||||||||||||||||||||||||||||
5 | Monthly Investment | $500 | Monthly contribution to tax-advantaged account going forward for remainder of your career | ||||||||||||||||||||||||||||
6 | Years Remaining to Invest | 32 | Number of years remaining in your career that you will invest in your tax-advantaged account | ||||||||||||||||||||||||||||
7 | Assumed Annual Return | 7% | Annual interest rate earned on tax-advantaged account | ||||||||||||||||||||||||||||
8 | Value of Investment | $661,309 | Total accumulated in tax-advantaged accounts at time of stopping working in a TRS-covered job (not including Plan 3 DC) | ||||||||||||||||||||||||||||
9 | Total in Plan 3 DC | $405,161 | Total accumulated in Plan 3 DC. See Plan 3 DC tab to estimate amount, then manually enter here | ||||||||||||||||||||||||||||
10 | Average Final Compensation | $75,000 | Average Final Compensation | ||||||||||||||||||||||||||||
11 | Replacement Percentage | 90% | Percent of final average salary you want to live on after stopping working in a TRS-covered job | ||||||||||||||||||||||||||||
12 | Yearly Increase through age 65 | 2% | Increase in living expenses per year (inflation) through age 65; also assumed inflation rate | ||||||||||||||||||||||||||||
13 | Yearly Increase after age 65 | 1% | Increase in living expenses per year (inflation) after age 65; spending inflation rate after 65, but assume inflation itself is still what's in B12 | ||||||||||||||||||||||||||||
14 | Social Security Replacement % | 37% | Assumption for replacement percentage based on earnings level and age of withdrawal (manually enter, based on https://www.ssa.gov/OACT/NOTES/ran9/an2020-9.pdf) | ||||||||||||||||||||||||||||
15 | Age Begin Drawing Soc Sec | 67 | Age at which you start drawing Social Security Benefits (earliest: 62, full: 67, highest: 70) | ||||||||||||||||||||||||||||
16 | Early Retirement Reduction Factor | 0.80 | Reduction Factor in TRS benefit if take early retirement benefit (manually enter; depends on date of hire, years of service, and work after retirement restrictions) | ||||||||||||||||||||||||||||
17 | TRS COLA | 1.50% | TRS Cost-of-living-increase (varies and is a complicated individual calculation) | ||||||||||||||||||||||||||||
18 | For Reference | ||||||||||||||||||||||||||||||
19 | Age | TRS Option 1 (yearly) | TRS Option 1 (monthly) | Social Security Pension (yearly) | Social Security Pension (monthly) | Plan 3 DC + 403b Withdrawal (yearly) | Plan 3 DC + 403b Withdrawal (monthly) | Percent of Projected 403b Balance (yearly) | Plan 3 DC plus 403b Balance | Total to live on (yearly) | Total to live on (monthly) | Plan 3 DC + 403b Withdrawal (yearly) | Withdrawal amount using 4% "Rule" with yearly inflation increase (yearly) | Cost of health insurance (monthly, employee only) | Health Insurance Cost as a Percent of Monthly Expenses | ||||||||||||||||
20 | 55 | $19,200 | $1,600 | $0 | $0 | $48,300 | $4,025 | 4.53% | $1,089,442 | $67,500 | $5,625 | $48,300 | $26,452 | 0.00% | |||||||||||||||||
21 | 56 | $19,488 | $1,624 | $0 | $0 | $49,362 | $4,114 | 4.53% | $1,112,885 | $68,850 | $5,738 | $49,362 | $26,981 | 0.00% | |||||||||||||||||
22 | 57 | $19,780 | $1,648 | $0 | $0 | $50,447 | $4,204 | 4.53% | $1,136,809 | $70,227 | $5,852 | $50,447 | $27,521 | 0.00% | |||||||||||||||||
23 | 58 | $20,077 | $1,673 | $0 | $0 | $51,555 | $4,296 | 4.54% | $1,161,223 | $71,632 | $5,969 | $51,555 | $28,071 | 0.00% | |||||||||||||||||
24 | 59 | $20,378 | $1,698 | $0 | $0 | $52,686 | $4,390 | 4.54% | $1,186,134 | $73,064 | $6,089 | $52,686 | $28,633 | 0.00% | |||||||||||||||||
25 | 60 | $20,684 | $1,724 | $0 | $0 | $53,842 | $4,487 | 4.54% | $1,211,553 | $74,525 | $6,210 | $53,842 | $29,206 | 0.00% | |||||||||||||||||
26 | 61 | $20,994 | $1,750 | $0 | $0 | $55,022 | $4,585 | 4.54% | $1,237,489 | $76,016 | $6,335 | $55,022 | $29,790 | 0.00% | |||||||||||||||||
27 | 62 | $21,309 | $1,776 | $0 | $0 | $56,227 | $4,686 | 4.54% | $1,263,950 | $77,536 | $6,461 | $56,227 | $30,385 | 0.00% | |||||||||||||||||
28 | 63 | $21,629 | $1,802 | $0 | $0 | $57,458 | $4,788 | 4.55% | $1,290,946 | $79,087 | $6,591 | $57,458 | $30,993 | 0.00% | |||||||||||||||||
29 | 64 | $21,953 | $1,829 | $0 | $0 | $58,716 | $4,893 | 4.55% | $1,318,486 | $80,669 | $6,722 | $58,716 | $31,613 | 0.00% | |||||||||||||||||
30 | 65 | $22,282 | $1,857 | $0 | $0 | $59,193 | $4,933 | 4.49% | $1,347,444 | $81,475 | $6,790 | $59,193 | $32,245 | 0.00% | |||||||||||||||||
31 | 66 | $22,617 | $1,885 | $0 | $0 | $59,674 | $4,973 | 4.43% | $1,377,914 | $82,290 | $6,858 | $59,674 | $32,890 | 0.00% | |||||||||||||||||
32 | 67 | $22,956 | $1,913 | $27,750 | $2,313 | $32,407 | $2,701 | 2.35% | $1,439,692 | $83,113 | $6,926 | $32,407 | $33,548 | 0.00% | |||||||||||||||||
33 | 68 | $23,300 | $1,942 | $28,305 | $2,359 | $32,339 | $2,695 | 2.25% | $1,505,868 | $83,944 | $6,995 | $32,339 | $34,219 | 0.00% | |||||||||||||||||
34 | 69 | $23,650 | $1,971 | $28,871 | $2,406 | $32,263 | $2,689 | 2.14% | $1,576,757 | $84,784 | $7,065 | $32,263 | $34,903 | 0.00% | |||||||||||||||||
35 | 70 | $24,004 | $2,000 | $29,449 | $2,454 | $32,179 | $2,682 | 2.04% | $1,652,699 | $85,632 | $7,136 | $32,179 | $35,601 | 0.00% | |||||||||||||||||
36 | 71 | $24,365 | $2,030 | $30,037 | $2,503 | $32,086 | $2,674 | 1.94% | $1,734,056 | $86,488 | $7,207 | $32,086 | $36,313 | 0.00% | |||||||||||||||||
37 | 72 | $24,730 | $2,061 | $30,638 | $2,553 | $31,984 | $2,665 | 1.84% | $1,821,217 | $87,353 | $7,279 | $31,984 | $37,040 | 0.00% | |||||||||||||||||
38 | 73 | $25,101 | $2,092 | $31,251 | $2,604 | $31,874 | $2,656 | 1.75% | $1,914,597 | $88,226 | $7,352 | $31,874 | $37,780 | 0.00% | |||||||||||||||||
39 | 74 | $25,477 | $2,123 | $31,876 | $2,656 | $31,755 | $2,646 | 1.66% | $2,014,641 | $89,108 | $7,426 | $31,755 | $38,536 | 0.00% | |||||||||||||||||
40 | 75 | $25,860 | $2,155 | $32,514 | $2,709 | $31,626 | $2,636 | 1.57% | $2,121,825 | $90,000 | $7,500 | $31,626 | $39,307 | 0.00% | |||||||||||||||||
41 | 76 | $26,248 | $2,187 | $33,164 | $2,764 | $31,488 | $2,624 | 1.48% | $2,236,661 | $90,900 | $7,575 | $31,488 | $40,093 | 0.00% | |||||||||||||||||
42 | 77 | $26,641 | $2,220 | $33,827 | $2,819 | $31,340 | $2,612 | 1.40% | $2,359,693 | $91,809 | $7,651 | $31,340 | $40,895 | 0.00% | |||||||||||||||||
43 | 78 | $27,041 | $2,253 | $34,504 | $2,875 | $31,182 | $2,599 | 1.32% | $2,491,506 | $92,727 | $7,727 | $31,182 | $41,713 | 0.00% | |||||||||||||||||
44 | 79 | $27,446 | $2,287 | $35,194 | $2,933 | $31,014 | $2,584 | 1.24% | $2,632,727 | $93,654 | $7,804 | $31,014 | $42,547 | 0.00% | |||||||||||||||||
45 | 80 | $27,858 | $2,322 | $35,898 | $2,991 | $30,835 | $2,570 | 1.17% | $2,784,025 | $94,590 | $7,883 | $30,835 | $43,398 | 0.00% | |||||||||||||||||
46 | 81 | $28,276 | $2,356 | $36,616 | $3,051 | $30,645 | $2,554 | 1.10% | $2,946,117 | $95,536 | $7,961 | $30,645 | $44,266 | 0.00% | |||||||||||||||||
47 | 82 | $28,700 | $2,392 | $37,348 | $3,112 | $30,444 | $2,537 | 1.03% | $3,119,770 | $96,492 | $8,041 | $30,444 | $45,151 | 0.00% | |||||||||||||||||
48 | 83 | $29,131 | $2,428 | $38,095 | $3,175 | $30,231 | $2,519 | 0.97% | $3,305,807 | $97,457 | $8,121 | $30,231 | $46,054 | 0.00% | |||||||||||||||||
49 | 84 | $29,568 | $2,464 | $38,857 | $3,238 | $30,007 | $2,501 | 0.91% | $3,505,106 | $98,431 | $8,203 | $30,007 | $46,975 | 0.00% | |||||||||||||||||
50 | 85 | $30,011 | $2,501 | $39,634 | $3,303 | $29,771 | $2,481 | 0.85% | $3,718,609 | $99,416 | $8,285 | $29,771 | $47,915 | 0.00% | |||||||||||||||||
51 | 86 | $30,461 | $2,538 | $40,427 | $3,369 | $29,522 | $2,460 | 0.79% | $3,947,323 | $100,410 | $8,367 | $29,522 | $48,873 | 0.00% | |||||||||||||||||
52 | 87 | $30,918 | $2,577 | $41,235 | $3,436 | $29,261 | $2,438 | 0.74% | $4,192,327 | $101,414 | $8,451 | $29,261 | $49,851 | 0.00% | |||||||||||||||||
53 | 88 | $31,382 | $2,615 | $42,060 | $3,505 | $28,986 | $2,416 | 0.69% | $4,454,774 | $102,428 | $8,536 | $28,986 | $50,848 | 0.00% | |||||||||||||||||
54 | 89 | $31,853 | $2,654 | $42,901 | $3,575 | $28,699 | $2,392 | 0.64% | $4,735,901 | $103,452 | $8,621 | $28,699 | $51,865 | 0.00% | |||||||||||||||||
55 | 90 | $32,331 | $2,694 | $43,759 | $3,647 | $28,397 | $2,366 | 0.60% | $5,037,029 | $104,487 | $8,707 | $28,397 | $52,902 | 0.00% | |||||||||||||||||
56 | 91 | $32,815 | $2,735 | $44,634 | $3,720 | $28,082 | $2,340 | 0.56% | $5,359,574 | $105,532 | $8,794 | $28,082 | $53,960 | 0.00% | |||||||||||||||||
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