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 | |
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1 | Stop Working in TRS at Age | 57 | Age you stop working in a TRS-covered position | ||||||||||||||||||||||||||
2 | Draw Pension at Age | 57 | Age you start drawing TRS pension | ||||||||||||||||||||||||||
3 | Years of Service | 34 | TRS years of service at retirement. | ||||||||||||||||||||||||||
4 | Percentage Multiplier | 78.2% | 2.3% for each year of service | ||||||||||||||||||||||||||
5 | Current 403b/457/IRA Balance | $0 | Current balance in your tax-advantaged account | ||||||||||||||||||||||||||
6 | Monthly Investment | $500 | Monthly contribution to tax-advantaged account going forward for remainder of your career (assumes no match) | ||||||||||||||||||||||||||
7 | Years Remaining to Invest | 34 | 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 | $769,553 | Total accumulated in tax-advantaged accounts at time of stopping working in a TRS-covered job | ||||||||||||||||||||||||||
10 | Average Base Salary | $74,000 | Average of your highest five years of salary | ||||||||||||||||||||||||||
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 | Survivor Option Reduction | 1.00 | If you choose any of the survivor options, you will need to enter the reduction factor here (estimate from tables or contact TRS for exact factor) | ||||||||||||||||||||||||||
15 | Early Retirement Reduction | 0.75 | If you take early retirement, enter the reduction factor here (estimate from tables or contact TRS for exact factor) | ||||||||||||||||||||||||||
16 | For Reference | ||||||||||||||||||||||||||||
17 | Age | TRS Pension (yearly) | TRS Pension (monthly) | 457/403b/IRA Withdrawal (yearly) | 457/403b/IRA Withdrawal (monthly) | Percent of Projected 457/403b/IRA Balance (yearly) | 457/403b/IRA Balance | Total to live on (yearly) | Total to live on (monthly) | 457/403b/IRA 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 | ||||||||||||||||
18 | 57 | $43,401 | $3,617 | $23,199 | $1,933 | 3.01% | $798,598 | $66,600 | $5,550 | $23,199 | $30,782 | 0.00% | |||||||||||||||||
19 | 58 | $43,401 | $3,617 | $24,531 | $2,044 | 3.07% | $828,252 | $67,932 | $5,661 | $24,531 | $31,398 | 0.00% | |||||||||||||||||
20 | 59 | $43,401 | $3,617 | $25,890 | $2,157 | 3.13% | $858,528 | $69,291 | $5,774 | $25,890 | $32,026 | 0.00% | |||||||||||||||||
21 | 60 | $43,401 | $3,617 | $27,275 | $2,273 | 3.18% | $889,440 | $70,676 | $5,890 | $27,275 | $32,666 | 0.00% | |||||||||||||||||
22 | 61 | $43,401 | $3,617 | $28,689 | $2,391 | 3.23% | $921,004 | $72,090 | $6,007 | $28,689 | $33,320 | 0.00% | |||||||||||||||||
23 | 62 | $43,401 | $3,617 | $30,131 | $2,511 | 3.27% | $953,234 | $73,532 | $6,128 | $30,131 | $33,986 | 0.00% | |||||||||||||||||
24 | 63 | $43,401 | $3,617 | $31,601 | $2,633 | 3.32% | $986,147 | $75,002 | $6,250 | $31,601 | $34,666 | 0.00% | |||||||||||||||||
25 | 64 | $43,401 | $3,617 | $33,101 | $2,758 | 3.36% | $1,019,758 | $76,502 | $6,375 | $33,101 | $35,359 | 0.00% | |||||||||||||||||
26 | 65 | $43,401 | $3,617 | $33,866 | $2,822 | 3.32% | $1,054,904 | $77,267 | $6,439 | $33,866 | $36,066 | 0.00% | |||||||||||||||||
27 | 66 | $43,401 | $3,617 | $34,639 | $2,887 | 3.28% | $1,091,684 | $78,040 | $6,503 | $34,639 | $36,787 | 0.00% | |||||||||||||||||
28 | 67 | $43,401 | $3,617 | $35,420 | $2,952 | 3.24% | $1,130,203 | $78,821 | $6,568 | $35,420 | $37,523 | 0.00% | |||||||||||||||||
29 | 68 | $43,401 | $3,617 | $36,208 | $3,017 | 3.20% | $1,170,575 | $79,609 | $6,634 | $36,208 | $38,274 | 0.00% | |||||||||||||||||
30 | 69 | $43,401 | $3,617 | $37,004 | $3,084 | 3.16% | $1,212,921 | $80,405 | $6,700 | $37,004 | $39,039 | 0.00% | |||||||||||||||||
31 | 70 | $43,401 | $3,617 | $37,808 | $3,151 | 3.12% | $1,257,371 | $81,209 | $6,767 | $37,808 | $39,820 | 0.00% | |||||||||||||||||
32 | 71 | $43,401 | $3,617 | $38,620 | $3,218 | 3.07% | $1,304,063 | $82,021 | $6,835 | $38,620 | $40,616 | 0.00% | |||||||||||||||||
33 | 72 | $43,401 | $3,617 | $39,440 | $3,287 | 3.02% | $1,353,147 | $82,841 | $6,903 | $39,440 | $41,429 | 0.00% | |||||||||||||||||
34 | 73 | $43,401 | $3,617 | $40,269 | $3,356 | 2.98% | $1,404,779 | $83,670 | $6,972 | $40,269 | $42,257 | 0.00% | |||||||||||||||||
35 | 74 | $43,401 | $3,617 | $41,105 | $3,425 | 2.93% | $1,459,131 | $84,506 | $7,042 | $41,105 | $43,102 | 0.00% | |||||||||||||||||
36 | 75 | $43,401 | $3,617 | $41,950 | $3,496 | 2.88% | $1,516,384 | $85,351 | $7,113 | $41,950 | $43,964 | 0.00% | |||||||||||||||||
37 | 76 | $43,401 | $3,617 | $42,804 | $3,567 | 2.82% | $1,576,730 | $86,205 | $7,184 | $42,804 | $44,844 | 0.00% | |||||||||||||||||
38 | 77 | $43,401 | $3,617 | $43,666 | $3,639 | 2.77% | $1,640,379 | $87,067 | $7,256 | $43,666 | $45,741 | 0.00% | |||||||||||||||||
39 | 78 | $43,401 | $3,617 | $44,537 | $3,711 | 2.72% | $1,707,551 | $87,938 | $7,328 | $44,537 | $46,655 | 0.00% | |||||||||||||||||
40 | 79 | $43,401 | $3,617 | $45,416 | $3,785 | 2.66% | $1,778,485 | $88,817 | $7,401 | $45,416 | $47,589 | 0.00% | |||||||||||||||||
41 | 80 | $43,401 | $3,617 | $46,304 | $3,859 | 2.60% | $1,853,433 | $89,705 | $7,475 | $46,304 | $48,540 | 0.00% | |||||||||||||||||
42 | 81 | $43,401 | $3,617 | $47,201 | $3,933 | 2.55% | $1,932,668 | $90,602 | $7,550 | $47,201 | $49,511 | 0.00% | |||||||||||||||||
43 | 82 | $43,401 | $3,617 | $48,107 | $4,009 | 2.49% | $2,016,480 | $91,508 | $7,626 | $48,107 | $50,501 | 0.00% | |||||||||||||||||
44 | 83 | $43,401 | $3,617 | $49,022 | $4,085 | 2.43% | $2,105,180 | $92,423 | $7,702 | $49,022 | $51,511 | 0.00% | |||||||||||||||||
45 | 84 | $43,401 | $3,617 | $49,947 | $4,162 | 2.37% | $2,199,100 | $93,348 | $7,779 | $49,947 | $52,542 | 0.00% | |||||||||||||||||
46 | 85 | $43,401 | $3,617 | $50,880 | $4,240 | 2.31% | $2,298,595 | $94,281 | $7,857 | $50,880 | $53,592 | 0.00% | |||||||||||||||||
47 | 86 | $43,401 | $3,617 | $51,823 | $4,319 | 2.25% | $2,404,046 | $95,224 | $7,935 | $51,823 | $54,664 | 0.00% | |||||||||||||||||
48 | 87 | $43,401 | $3,617 | $52,775 | $4,398 | 2.20% | $2,515,860 | $96,176 | $8,015 | $52,775 | $55,758 | 0.00% | |||||||||||||||||
49 | 88 | $43,401 | $3,617 | $53,737 | $4,478 | 2.14% | $2,634,472 | $97,138 | $8,095 | $53,737 | $56,873 | 0.00% | |||||||||||||||||
50 | 89 | $43,401 | $3,617 | $54,708 | $4,559 | 2.08% | $2,760,347 | $98,109 | $8,176 | $54,708 | $58,010 | 0.00% | |||||||||||||||||
51 | 90 | $43,401 | $3,617 | $55,689 | $4,641 | 2.02% | $2,893,984 | $99,090 | $8,258 | $55,689 | $59,170 | 0.00% | |||||||||||||||||
52 | 91 | $43,401 | $3,617 | $56,680 | $4,723 | 1.96% | $3,035,915 | $100,081 | $8,340 | $56,680 | $60,354 | 0.00% | |||||||||||||||||
53 | 92 | $43,401 | $3,617 | $57,681 | $4,807 | 1.90% | $3,186,711 | $101,082 | $8,424 | $57,681 | $61,561 | 0.00% | |||||||||||||||||
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