The post-retirement shore-up benefit is not automatic. The Trustees will review the sufficiency of the reserves and may decide to shore-up benefits. This review is done annually and any shore-up decision is effective for 12 months.
- You are assumed to meet the Recency test at retirement if you input 400 or more assumed hours.
- Your benefit earning contribution rate is estimated based on your total benefit earning contributions and total hours worked for the plan year ending 2019. To the extent the actual rate contributed is different, your benefit at retirement will be different. Actual benefits will depend on actual hours worked, actual hourly benefit earning contribution rate, and actual plan investment returns.
Investment return assumptions: The tool includes historical returns from 1927 through 2018. If the projection to age 85 extends beyond the 2018 historical data, the tool uses an assumed 6% rate of return. For example, if you enter 1994 for the starting year but your projection goes out 50 years, the tool will assume historical returns for the first 25 years and 6% for the second 25 years.Investment mix assumptions: We assumed the funds are invested in a 55% stock / 45% bond mix. The historical stock and bond returns used are Ibbotson’s US large stock returns and Long-term Corporate Bond returns.
- The modeling tool works best with Google Chrome or Windows Internet Explorer.
- To reset the modeling tool to its original settings, refresh the browser by pressing the F5 key (Chrome) or Ctrl F5 (Internet Explorer).