| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
1 | Stop Working in WRS at Age | 55 | Stop working in an WRS-covered job at age 55 | ||||||||||||||||||||||||||||
2 | Draw Pension at Age | 55 | Earliest can draw WRS pension is age 55 | ||||||||||||||||||||||||||||
3 | Years of Service | 23 | WRS years of service at retirement. Does not meet rule of 85 = reduced benefit | ||||||||||||||||||||||||||||
4 | Multiplier | 49.875% | Tier 1: 2.125% for their first 15 years of service, then 2.25% for every year of service over 15 years | ||||||||||||||||||||||||||||
5 | Current 403b Balance | $0 | Current balance in your tax-advantaged account | ||||||||||||||||||||||||||||
6 | Monthly Investment | $1,000 | Monthly contribution to tax-advantaged account going forward for remainder of your career | ||||||||||||||||||||||||||||
7 | Years Remaining to Invest | 23 | Number of years remaining in your career that you will invest in your tax-advantaged account | ||||||||||||||||||||||||||||
8 | Annual Return | 7% | Annual interest rate earned on tax-advantaged account | ||||||||||||||||||||||||||||
9 | Value of Investment | $641,234 | Total accumulated in tax-advantaged account at time of stopping working in an WRS-covered job (age 55) | ||||||||||||||||||||||||||||
10 | Highest Average Salary | $70,000 | Highest Average salary | ||||||||||||||||||||||||||||
11 | Replacement Percentage | 80% | Percent of highest average salary you want to live on after stopping working in an WRS-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 is still what's in B10 | ||||||||||||||||||||||||||||
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 | Annual Reduction in Benefit | 25% | Any reduction in WRS benefit if haven't reached normal retirement age (manually calculate) | ||||||||||||||||||||||||||||
17 | |||||||||||||||||||||||||||||||
18 | For Reference | ||||||||||||||||||||||||||||||
19 | Age | WRS Pension Option 1 Amount (yearly) | WRS Pension Option 1 Amount (monthly) | Social Security Pension (yearly) | Social Security Pension (monthly) | 403b Withdrawal (yearly) | 403b Withdrawal (monthly) | Percent of Projected 403b Balance (yearly) | 403b Balance | Total to live on (yearly) | Total to live on (monthly) | 403b Withdrawal (yearly) | Withdrawal amount using 4% "Rule" with yearly inflation increase (yearly) | Cost of health insurance (monthly, employee only, managed care premium) | Health Insurance Cost as a Percent of Monthly Expenses | ||||||||||||||||
20 | 55 | $26,184 | $2,182 | $0 | $0 | $29,816 | $2,485 | 4.65% | $654,217 | $56,000 | $4,667 | $29,816 | $25,649 | 0.00% | |||||||||||||||||
21 | 56 | $26,184 | $2,182 | $0 | $0 | $30,936 | $2,578 | 4.73% | $666,911 | $57,120 | $4,760 | $30,936 | $26,162 | 0.00% | |||||||||||||||||
22 | 57 | $26,184 | $2,182 | $0 | $0 | $32,078 | $2,673 | 4.81% | $679,272 | $58,262 | $4,855 | $32,078 | $26,686 | 0.00% | |||||||||||||||||
23 | 58 | $26,184 | $2,182 | $0 | $0 | $33,243 | $2,770 | 4.89% | $691,250 | $59,428 | $4,952 | $33,243 | $27,219 | 0.00% | |||||||||||||||||
24 | 59 | $26,184 | $2,182 | $0 | $0 | $34,432 | $2,869 | 4.98% | $702,796 | $60,616 | $5,051 | $34,432 | $27,764 | 0.00% | |||||||||||||||||
25 | 60 | $26,184 | $2,182 | $0 | $0 | $35,644 | $2,970 | 5.07% | $713,852 | $61,829 | $5,152 | $35,644 | $28,319 | 0.00% | |||||||||||||||||
26 | 61 | $26,184 | $2,182 | $0 | $0 | $36,881 | $3,073 | 5.17% | $724,360 | $63,065 | $5,255 | $36,881 | $28,885 | 0.00% | |||||||||||||||||
27 | 62 | $26,184 | $2,182 | $0 | $0 | $38,142 | $3,179 | 5.27% | $734,253 | $64,326 | $5,361 | $38,142 | $29,463 | 0.00% | |||||||||||||||||
28 | 63 | $26,184 | $2,182 | $0 | $0 | $39,429 | $3,286 | 5.37% | $743,462 | $65,613 | $5,468 | $39,429 | $30,052 | 0.00% | |||||||||||||||||
29 | 64 | $26,184 | $2,182 | $0 | $0 | $40,741 | $3,395 | 5.48% | $751,912 | $66,925 | $5,577 | $40,741 | $30,653 | 0.00% | |||||||||||||||||
30 | 65 | $26,184 | $2,182 | $0 | $0 | $42,079 | $3,507 | 5.60% | $759,521 | $68,264 | $5,689 | $42,079 | $31,266 | 0.00% | |||||||||||||||||
31 | 66 | $26,184 | $2,182 | $0 | $0 | $42,762 | $3,563 | 5.63% | $766,932 | $68,946 | $5,746 | $42,762 | $31,892 | 0.00% | |||||||||||||||||
32 | 67 | $26,184 | $2,182 | $25,900 | $2,158 | $17,551 | $1,463 | 2.29% | $801,837 | $69,636 | $5,803 | $17,551 | $32,530 | 0.00% | |||||||||||||||||
33 | 68 | $26,184 | $2,182 | $26,418 | $2,202 | $17,730 | $1,477 | 2.21% | $838,995 | $70,332 | $5,861 | $17,730 | $33,180 | 0.00% | |||||||||||||||||
34 | 69 | $26,184 | $2,182 | $26,946 | $2,246 | $17,905 | $1,492 | 2.13% | $878,566 | $71,035 | $5,920 | $17,905 | $33,844 | 0.00% | |||||||||||||||||
35 | 70 | $26,184 | $2,182 | $27,485 | $2,290 | $18,076 | $1,506 | 2.06% | $920,725 | $71,746 | $5,979 | $18,076 | $34,521 | 0.00% | |||||||||||||||||
36 | 71 | $26,184 | $2,182 | $28,035 | $2,336 | $18,244 | $1,520 | 1.98% | $965,654 | $72,463 | $6,039 | $18,244 | $35,211 | 0.00% | |||||||||||||||||
37 | 72 | $26,184 | $2,182 | $28,596 | $2,383 | $18,408 | $1,534 | 1.91% | $1,013,554 | $73,188 | $6,099 | $18,408 | $35,915 | 0.00% | |||||||||||||||||
38 | 73 | $26,184 | $2,182 | $29,168 | $2,431 | $18,568 | $1,547 | 1.83% | $1,064,635 | $73,920 | $6,160 | $18,568 | $36,634 | 0.00% | |||||||||||||||||
39 | 74 | $26,184 | $2,182 | $29,751 | $2,479 | $18,724 | $1,560 | 1.76% | $1,119,125 | $74,659 | $6,222 | $18,724 | $37,366 | 0.00% | |||||||||||||||||
40 | 75 | $26,184 | $2,182 | $30,346 | $2,529 | $18,875 | $1,573 | 1.69% | $1,177,267 | $75,406 | $6,284 | $18,875 | $38,114 | 0.00% | |||||||||||||||||
41 | 76 | $26,184 | $2,182 | $30,953 | $2,579 | $19,022 | $1,585 | 1.62% | $1,239,322 | $76,160 | $6,347 | $19,022 | $38,876 | 0.00% | |||||||||||||||||
42 | 77 | $26,184 | $2,182 | $31,572 | $2,631 | $19,165 | $1,597 | 1.55% | $1,305,568 | $76,921 | $6,410 | $19,165 | $39,653 | 0.00% | |||||||||||||||||
43 | 78 | $26,184 | $2,182 | $32,203 | $2,684 | $19,303 | $1,609 | 1.48% | $1,376,304 | $77,690 | $6,474 | $19,303 | $40,446 | 0.00% | |||||||||||||||||
44 | 79 | $26,184 | $2,182 | $32,847 | $2,737 | $19,436 | $1,620 | 1.41% | $1,451,849 | $78,467 | $6,539 | $19,436 | $41,255 | 0.00% | |||||||||||||||||
45 | 80 | $26,184 | $2,182 | $33,504 | $2,792 | $19,563 | $1,630 | 1.35% | $1,532,546 | $79,252 | $6,604 | $19,563 | $42,080 | 0.00% | |||||||||||||||||
46 | 81 | $26,184 | $2,182 | $34,174 | $2,848 | $19,686 | $1,640 | 1.28% | $1,618,761 | $80,045 | $6,670 | $19,686 | $42,922 | 0.00% | |||||||||||||||||
47 | 82 | $26,184 | $2,182 | $34,858 | $2,905 | $19,803 | $1,650 | 1.22% | $1,710,885 | $80,845 | $6,737 | $19,803 | $43,781 | 0.00% | |||||||||||||||||
48 | 83 | $26,184 | $2,182 | $35,555 | $2,963 | $19,914 | $1,659 | 1.16% | $1,809,339 | $81,653 | $6,804 | $19,914 | $44,656 | 0.00% | |||||||||||||||||
49 | 84 | $26,184 | $2,182 | $36,266 | $3,022 | $20,019 | $1,668 | 1.11% | $1,914,572 | $82,470 | $6,872 | $20,019 | $45,549 | 0.00% | |||||||||||||||||
50 | 85 | $26,184 | $2,182 | $36,992 | $3,083 | $20,119 | $1,677 | 1.05% | $2,027,065 | $83,295 | $6,941 | $20,119 | $46,460 | 0.00% | |||||||||||||||||
51 | 86 | $26,184 | $2,182 | $37,731 | $3,144 | $20,212 | $1,684 | 1.00% | $2,147,333 | $84,128 | $7,011 | $20,212 | $47,389 | 0.00% | |||||||||||||||||
52 | 87 | $26,184 | $2,182 | $38,486 | $3,207 | $20,298 | $1,692 | 0.95% | $2,275,927 | $84,969 | $7,081 | $20,298 | $48,337 | 0.00% | |||||||||||||||||
53 | 88 | $26,184 | $2,182 | $39,256 | $3,271 | $20,378 | $1,698 | 0.90% | $2,413,437 | $85,819 | $7,152 | $20,378 | $49,304 | 0.00% | |||||||||||||||||
54 | 89 | $26,184 | $2,182 | $40,041 | $3,337 | $20,452 | $1,704 | 0.85% | $2,560,495 | $86,677 | $7,223 | $20,452 | $50,290 | 0.00% | |||||||||||||||||
55 | 90 | $26,184 | $2,182 | $40,842 | $3,403 | $20,517 | $1,710 | 0.80% | $2,717,776 | $87,544 | $7,295 | $20,517 | $51,296 | 0.00% | |||||||||||||||||
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