{Darlene Perez Administrator}
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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.
Plan C and Plan D Factors (XLSS 707KB) 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. |
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