Montana Public Employees' Retirement System Handbook 2001 Oct
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In our eReader you can find the full English version of the book. Read Montana Public Employees' Retirement System Handbook 2001 Oct Online - link to read the book on full screen. Our eReader also allows you to upload and read Pdf, Txt, ePub and fb2 books. In the Mini eReder on the page below you can quickly view all pages of the book - Read Book Montana Public Employees' Retirement System Handbook 2001 Oct
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(See page 26 for an explanation of the basic formula.) Option 1 Formula : 1/50 X Service Credit x HAC x Early Retirement Factor 1/50 X 25 X $1,500 x .70 = $525.00/month The early retirement factor is .70 for Kenny. Two factors could apply to Kenny, either .556 for age 51 or .70 for 25 years of service credit. We use .70 because it gives Kenny a larger benefit.
45 See Table 1 on page 27 for a list of early retirement factors. Under Payment Option 1, Kenny will receive a benefit of $525.00 each m...onth for the remainder of his life. Upon his death, his beneficiaries will receive the balance of his account. The account balance is equal to his contributions plus interest at retirement less all benefits paid to him.
Option 2 Formula: Option 1 Amount x Option 2 Factor $525.00 X .8775 = $460.69 per month Option 2 will provide Kenny $460.69 per month for the rest of his life. Upon his death, Kenny's contingent annuitant will receive the same monthly benefit, $460.69, for life.
Option 3 Formula: Option 1 Amount x Option 3 Factor $525.00 X .9382 = $492.56 per month Option 3 will provide Kenny a benefit of $492.56 each month.
What to read after Montana Public Employees' Retirement System Handbook 2001 Oct?
You can find similar books in the "Read Also" column, or choose other free books by Montana. Public Employees' Retirement Division to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
(See page 26 for an explanation of the basic formula.) Option 1 Formula : 1/50 X Service Credit x HAC x Early Retirement Factor 1/50 X 25 X $1,500 x .70 = $525.00/month The early retirement factor is .70 for Kenny. Two factors could apply to Kenny, either .556 for age 51 or .70 for 25 years of service credit. We use .70 because it gives Kenny a larger benefit.
45 See Table 1 on page 27 for a list of early retirement factors. Under Payment Option 1, Kenny will receive a benefit of $525.00 each m...onth for the remainder of his life. Upon his death, his beneficiaries will receive the balance of his account. The account balance is equal to his contributions plus interest at retirement less all benefits paid to him.
Option 2 Formula: Option 1 Amount x Option 2 Factor $525.00 X .8775 = $460.69 per month Option 2 will provide Kenny $460.69 per month for the rest of his life. Upon his death, Kenny's contingent annuitant will receive the same monthly benefit, $460.69, for life.
Option 3 Formula: Option 1 Amount x Option 3 Factor $525.00 X .9382 = $492.56 per month Option 3 will provide Kenny a benefit of $492.56 each month.
What to read after Montana Public Employees' Retirement System Handbook 2001 Oct?
You can find similar books in the "Read Also" column, or choose other free books by Montana. Public Employees' Retirement Division to read onlineMoreLess
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