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KPERS Retirement Income Example (see your $$$$)
The examples below illustrate the value of the KPERS Maximum Monthly Benefit 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--Maximum Monthly Benefit* |
| 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 |
|
| 55/55 |
$40,000 |
$21,000 |
$23,000 |
$25,400 |
$28,300 |
$750,000 |
| 55/60 |
$40,000 |
$21,000 |
$23,000 |
$25,400 |
$28,300 |
$750,000 |
| 60/55 |
$40,000 |
$21,000 |
$23,000 |
$25,400 |
$26,900 |
$620,000 |
| |
| 55/55 |
$75,000 |
$39,400 |
$43,100 |
$47,600 |
$53,100 |
$1,410,000 |
| 55/60 |
$75,000 |
$39,400 |
$43,100 |
$47,600 |
$53,100 |
$1,410,000 |
| 60/55 |
$75,000 |
$39,400 |
$43,100 |
$47,600 |
$50,5000 |
$1,160,000 |
| |
| 55/55 |
$100,000 |
$52,500 |
$57,400 |
$63,400 |
$70,800 |
$1,875,000 |
| 55/60 |
$100,000 |
$52,500 |
$57,400 |
$63,400 |
$70,800 |
$1,875,000 |
| 60/55 |
$100,000 |
$52,500 |
$57,400 |
$63,400 |
$67,300 |
$1,550,000 |
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The Pension Maximization Plan 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 KPERS Joint & Survivor Options. KPERS ceases
Maximum Monthly Benefit retirement payments to the retiree at his death, and likewise, ceases all
J & S 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 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 Pension Maximization Plan Advantage? |
| KPERS, or KPERS and PenMax Plan |
| Age Of Retiree & Spouse |
Final Average Salary |
Max Monthly Benefit* |
J & S 100% Monthly Income* |
The PenMax Advantage at Life Expectancy (Approximately) |
|
| 55/55 |
$40,000 |
$1,750 |
$1,450 |
$230,000 to $265,000 |
| 55/60 |
$40,000 |
$1,750 |
$1,500 |
$240,000 to $260,000 |
| 60/55 |
$40,000 |
$1,750 |
$1,400 |
$215,000 to $240,000 |
| |
| 55/55 |
$75,000 |
$3,280 |
$2,720 |
$325,000 to $375,000 |
| 55/60 |
$75,000 |
$3,280 |
$2,820 |
$360,000 to $410,000 |
| 60/55 |
$75,000 |
$3,280 |
$2,580 |
$235,000 to $280,000 |
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| 55/55 |
$100,000 |
$4,380 |
$3,630 |
$420,000 to $525,000 |
| 55/60 |
$100,000 |
$4,380 |
$3,760 |
$460,000 to $530,000 |
| 60/55 |
$100,000 |
$4,380 |
$3,500 |
$270,000 to $380,000 |
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