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Stop Working in NYSTRS at Age
55Stop working in a NYSTRS-covered job
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Draw Pension at Age55Age you start drawing NYSTRS pension
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Years of Service32NYSTRS years of service at retirement.
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Pension Factor63.00%
Tier 3 or 4 pension factor based on years of service
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Current 403b/457/IRA Balance$0Current balance in your tax-advantaged account
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Monthly Investment$500Monthly contribution to tax-advantaged account going forward for remainder of your career
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Years Remaining to Invest32Number of years remaining in your career that you will invest in your tax-advantaged account
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Assumed Annual Return7%Annual interest rate earned on tax-advantaged account
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Value of Investment$661,309Total accumulated in tax-advantaged accounts at time of stopping working in an NYSTRS-covered job
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Final Average Salary$90,000Final Average Salary
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Replacement Percentage90%Percent of final average salary you want to live on after stopping working in a NYSTRS-covered job
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Yearly Increase through age 652%Increase in living expenses per year (inflation) through age 65; also assumed inflation rate
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Yearly Increase after age 651%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
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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)
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Age Begin Drawing Soc Sec67
Age at which you start drawing Social Security Benefits (earliest: 62, full: 67, highest: 70)
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Age Reduction Factor100.00%
Age Reduction Factor if Tier 3 or 4 retire before age 62 with less than 30 years (100% if no age reduction)
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Age Start COLA62
Age you start receiving the cost-of-living increase; rules for this are complicated and vary by age and the number of years you've been retired
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Assumed NYSTRS COLA1.00%
NYSTRS Cost-of-living-increase
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For Reference
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AgeMaximum Benefit
(yearly)		Maximum Benefit
(monthly)		Social Security
Pension (yearly)
Social Security
Pension (monthly)
457 Withdrawal
(yearly)		457 Withdrawal
(monthly)
Percent of
Projected 457
Balance (yearly)
457 BalanceTotal to
live on
(yearly)		Total to
live on
(monthly)		457 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
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55$56,700$4,725$0$0$24,300$2,0253.67%$681,600$81,000$6,750$24,300$26,4520.00%
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56$56,700$4,725$0$0$25,920$2,1603.80%$701,577$82,620$6,885$25,920$26,9810.00%
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57$56,700$4,725$0$0$27,572$2,2983.93%$721,185$84,272$7,023$27,572$27,5210.00%
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58$56,700$4,725$0$0$29,258$2,4384.06%$740,362$85,958$7,163$29,258$28,0710.00%
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59$56,700$4,725$0$0$30,977$2,5814.18%$759,042$87,677$7,306$30,977$28,6330.00%
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60$56,700$4,725$0$0$32,731$2,7284.31%$777,153$89,431$7,453$32,731$29,2060.00%
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61$56,700$4,725$0$0$34,519$2,8774.44%$794,619$91,219$7,602$34,519$29,7900.00%
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62$56,880$4,740$0$0$36,164$3,0144.55%$811,547$93,044$7,754$36,164$30,3850.00%
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63$57,060$4,755$0$0$37,844$3,1544.66%$827,862$94,904$7,909$37,844$30,9930.00%
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64$57,240$4,770$0$0$39,562$3,2974.78%$843,480$96,802$8,067$39,562$31,6130.00%
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65$57,420$4,785$0$0$40,351$3,3634.78%$859,349$97,771$8,148$40,351$32,2450.00%
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66$57,600$4,800$0$0$41,148$3,4294.79%$875,474$98,748$8,229$41,148$32,8900.00%
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67$57,780$4,815$33,300$2,775$8,656$7210.99%$927,496$99,736$8,311$8,656$33,5480.00%
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68$57,960$4,830$33,966$2,831$8,807$7340.95%$982,997$100,733$8,394$8,807$34,2190.00%
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69$58,140$4,845$34,645$2,887$8,955$7460.91%$1,042,225$101,740$8,478$8,955$34,9030.00%
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70$58,320$4,860$35,338$2,945$9,100$7580.87%$1,105,444$102,758$8,563$9,100$35,6010.00%
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71$58,500$4,875$36,045$3,004$9,240$7700.84%$1,172,938$103,785$8,649$9,240$36,3130.00%
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72$58,680$4,890$36,766$3,064$9,377$7810.80%$1,245,010$104,823$8,735$9,377$37,0400.00%
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73$58,860$4,905$37,501$3,125$9,510$7930.76%$1,321,985$105,871$8,823$9,510$37,7800.00%
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74$59,040$4,920$38,251$3,188$9,639$8030.73%$1,404,210$106,930$8,911$9,639$38,5360.00%
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75$59,220$4,935$39,016$3,251$9,763$8140.70%$1,492,058$107,999$9,000$9,763$39,3070.00%
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76$59,400$4,950$39,797$3,316$9,883$8240.66%$1,585,927$109,079$9,090$9,883$40,0930.00%
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77$59,580$4,965$40,593$3,383$9,998$8330.63%$1,686,245$110,170$9,181$9,998$40,8950.00%
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78$59,760$4,980$41,404$3,450$10,108$8420.60%$1,793,467$111,272$9,273$10,108$41,7130.00%
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79$59,940$4,995$42,232$3,519$10,212$8510.57%$1,908,082$112,385$9,365$10,212$42,5470.00%
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80$60,120$5,010$43,077$3,590$10,311$8590.54%$2,030,615$113,509$9,459$10,311$43,3980.00%
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81$60,300$5,025$43,939$3,662$10,405$8670.51%$2,161,625$114,644$9,554$10,405$44,2660.00%
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82$60,480$5,040$44,817$3,735$10,493$8740.49%$2,301,711$115,790$9,649$10,493$45,1510.00%
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83$60,660$5,055$45,714$3,809$10,574$8810.46%$2,451,517$116,948$9,746$10,574$46,0540.00%
50
84$60,840$5,070$46,628$3,886$10,649$8870.43%$2,611,728$118,117$9,843$10,649$46,9750.00%
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85$61,020$5,085$47,561$3,963$10,718$8930.41%$2,783,080$119,299$9,942$10,718$47,9150.00%
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86$61,200$5,100$48,512$4,043$10,780$8980.39%$2,966,362$120,492$10,041$10,780$48,8730.00%
53
87$61,380$5,115$49,482$4,124$10,834$9030.37%$3,162,414$121,697$10,141$10,834$49,8510.00%
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88$61,560$5,130$50,472$4,206$10,882$9070.34%$3,372,140$122,913$10,243$10,882$50,8480.00%
55
89$61,740$5,145$51,481$4,290$10,921$9100.32%$3,596,503$124,143$10,345$10,921$51,8650.00%
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90$61,920$5,160$52,511$4,376$10,953$9130.30%$3,836,539$125,384$10,449$10,953$52,9020.00%
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