Calculator Limitations and Assumptions
The Benefit Estimator Worksheet calculator assumes eligibility for an immediate retirement benefit at the time of separation. Therefore, Deferred Vested Retirement calculations are not available. The Normal Retirement factor is 2% per year for full-time service. The maximum retirement percentage is 75%. Early Retirement calculations assume a minimum of 20 years of Connecticut Service. Proratable Retirement calculations assume all Connecticut Service.
The calculation shown is under Payment Plan N (Normal Allowance). CTRB also offers Payment Plan C (Period Certain and Continuous) and Plan D (Co-participant Option). Plan C and Plan D factors are listed below.
Plan C and Plan D Factors (XLS 665KB).
Your 1% and or Voluntary (PDF 82KB) balances (to be distributed at the time of retirement) are not included in the calculation.
Retirement benefits are calculated based on a retirement formula type, average salary, FTE and credited service. Average annual salary is the average of your three highest-paid years in Connecticut public schools. If you have part-time service, your benefit will be reduced to reflect the full-time equivalency. Refer to your Annual Member Statement for information on your past salaries, FTE and credited service.
Content Last Modified on 12/29/2008 2:15:27 PM