TRB: Calculator Limitations and Assumptions

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 are available below.

The above excel gives a comparison of the current and new Plan C and D Factors effective September 1, 2017.

Your 1% Supplemental and/or Voluntary 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 Member Annual Statement for information on your past salaries, FTE and credited service.

Content Last Modified on 3/7/2017 12:53:34 PM