PenMaxExamplEduardo
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ABCDEFGHIJ
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TEXAS TEACHER RETIREMENT SYSTEM PENSION MAXIMIZATION
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Information About You
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TRS ParticipantEduardoFemale31years old
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SpouseSuzetteMale28years old
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Eduardo has Participated in the TRS for
1year.
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Eduardo's current annual salary is
$36,570$36570 is the average for 1 years of service here in Hays county.
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Scenarios
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Changing the inputs in green text will allow you to see how they affect financial outcomes for you and your family illustrated in the box below.
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Eduardo Plans to retires at age
62
after 32 years of service.
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Eduardo survives17years past retirement. Eduardo lives to be 79 years old.
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Who survives whom? Eduardo, Suzette, or Neither (both die in same year).Suzette
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Suzette Survives Eduardo by10years. Suzette lives to be 86 years old.
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TEACHER RETIREMENT SYSTEM JOINT AND SURVIVOR BENEFIT
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Annual Cost to Eduardo and Suzette of a 100% Joint & Survivor benefit is:$5,108which equals $426 per month. Beginning at retirement.
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Total Cost$137,908
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Value to Suzette$283,599
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Value to your kids, grandkids, and great grandkids$0
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VERSUS
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PENSION MAXIMIZATION
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Annual Pension Maximization Contribution$3,910
which equals $326 per month.
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Total Contribution$187,680
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Value to Suzette$777,948
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Projected average of Eduardo's 5 highest annual salaries at the time of her retirement is:$56,330
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Eduardo's projected Standard Annual Retirement benefit (without Joint & Survivor Benefit) is:$41,459
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Estimated Annual Retirement benefit if Eduardo and Suzette elect a 100% Joint & Survivor benefit is:$36,351
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Discount Rate6%
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Cola Rate0.015
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There are assumption made in this worksheet that will affect the performance of both the TRS Joint and Survivor Benefit and projections for Pension Maximization. This is for illustration purposes only. This is not an offer, contract, or promise of future performance.
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