Tuesday, October 11, 2016

Defined Benefit Accruals

11:46 AM


Question:

I tried to input my husband's pension, which starts collecting on Jan 1, 2022. I am entering the lifetime amount and the bridge benefit from his pension statement, which are $32,484 and $10,218, respectively. However, when I put this into the input page, the output I get is far more than these numbers.

Answer:

If it is a defined benefit pension from a current employer, the program estimates future accruals between now and 2022, so the bridge and pension include years of service all the way to 2002. If you want the amounts unchanged, enter them as a defined benefit pension from a former employer.

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