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Public Education Employee Retirement System of Missouri
Retirement System (PEERS)
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PEERS Retirement Income Example (see your $$$$)

The examples below illustrate the value of the Missouri PEERS Option 1 retirement income stream at several "Final Average Salary" levels, age of retiree/spouse combinations, and periods into retirement. They all represent large sums of income as they are received over the years of life expectancy.
And large sums to forfeit by not living to or through life expectancy!

Life Expectancy Value of
Annual Retirement Income--Option 1*
Age Of Retiree & Spouse Final Average Salary Pension Year 1 Pension Year 10 Pension Year 20 At Year of Life Expectancy Total Value at Life Expectancy
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55/55 $40,000 $19,300 $23,500 $28,700 $30,700 $559,000
55/60 $40,000 $19,300 $23,500 $28,700 $30,700 $559,000
60/55 $40,000 $19,300 $23,500 $28,700 $28,400 $471,000
 
55/55 $75,000 $36,400 $44,400 $54,100 $57,900 $1,048,000
55/60 $75,000 $36,400 $44,400 $54,100 $57,900 $1,048,000
60/55 $75,000 $36,400 $44,400 $54,100 $53,600 $883,000
 
55/55 $100,000 $48,300 $58,900 $71,800 $76,800 $1,398,000
55/60 $100,000 $48,300 $58,900 $71,800 $76,800 $1,398,000
60/55 $100,000 $48,300 $58,900 $71,800 $71,100 $1,178,000
 
* Source: Public Education Employees Retirement System of Missouri (PEERS) website. This is the "NORMAL BENEFIT" amount.
Note:  Add approximately 50% until the retiree reaches age 62 and becomes eligible for Social Security.
  Age of spouse affects the retirement income amounts paid in NTRS Options 2 - 4.
  Assumes 30 years of service and 2% COLA's

The Pension Maximization Advantage

If your personal, lifestyle, and financial objectives align positively with the What Is Important To You section, then this table approximates the advantage your own PenMax Plan may have over the PEERS Options 1 or 2. The PEERS ceases Option 1 retirement payments to the retiree at his death, and likewise, ceases all Option 2 retirement payments upon the death of the survivor (retiree/spouse).

However, it is likely that under your Pension Maximization Plan there would still be a large sum which could be used to benefit whomever you wish. The approximate range of value is shown in the columns titled "PenMax Plan Advantage" below.

It is this amount that may be "left on the table" simply by ignoring the opportunity, or being unable to qualify for it.

How Large is the PenMax Plan Advantage?
PEERS, or PEERS and PenMax Plan
Age Of Retiree & Spouse Final Average Salary Option 1 Monthly Income* Option 2 Monthly Income* The PenMax Advantage at Life Expectancy (Approximately)
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55/55 $40,000 $1,610 $1,450 $170,000 to $225,000
55/60 $40,000 $1,610 $1,475 $225,000 to $250,000
60/55 $40,000 $1,610 $1,370 $175,000 to $225,000
 
55/55 $75,000 $3,030 $2,720 $225,000 to $300,000
55/60 $75,000 $3,030 $2,720 $300,000 to $350,000
60/55 $75,000 $3,030 $2,720 $225,000 to $325,000
 
55/55 $100,000 $4,025 $3,625 $400,000 to $550,000
55/60 $100,000 $4,025 $3,680 $550,000 to $650,000
60/55 $100,000 $4,025 $3,420 $250,000 to $450,000
 
* Source: Public Education Employee Retirement System (PEERS) website. This is the "NORMAL BENEFIT" amount.
Note:  Add approximately 50% until the retiree reaches age 62 and becomes eligible for Social Security.
  Age of spouse affects the retirement income amounts paid in PEERS Options 2 - 4.
  Assumes 30 years of service and 2% COLA's
 
 
 
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