Pension or 403B | TigerDroppings.com

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RedHawk
Army Fan
Baton Rouge
Member since Aug 2007
5264 posts

Pension or 403B



If you had the choice? I posted this on the OT, but it belongs here.

Here are the details:

I'm 37 years old.

Each take 6% of your paycheck with a matching 6% from the employer.

Can Retire from the Pension once you reach 60 at this rate: The monthly standard annuity is currently calculated as the number of years of service credit multiplied by 2.3 percent of the average of the highest five annual salaries and then divided by 12.

Lets say the average of the five highest salaries was $65,000 and you have 23 years of service. How would you compute that?

The 403B you can withdraw once you are terminated or reach 70 1/2 years of age.



This post was edited on 2/22 at 12:08 pm



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Chris4x4gill2
Alabama Fan
North Alabama
Member since Nov 2008
1996 posts

re: Pension or 403B


If I'm reading it right.

23*2.3=52.9%

.529*65000 = 34385

34385/12 = $2865.42 / month






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