| Assumptions | ||||||||||||
| Load - 9 LHE in Fall, 9 LHE in Spring, 6 LHE in Winter, 6 LHE in Summer | ||||||||||||
| Years Teaching at SMC - 20 years | ||||||||||||
| Pay Rate - $1500 per unit | ||||||||||||
| Rate Of Return On Larissa Investments - 3% | ||||||||||||
| Rate Of Return On Annuity After Retirement - 5% | ||||||||||||
| Life Expectancy In Retirement - 20 years | ||||||||||||
| Age At Retirement - 65 years old | ||||||||||||
| pay per unit: | 1500 | |||||||||||
| units taught: | 30 | |||||||||||
| salary earned: | 45000 | |||||||||||
| Larissa Contributions: | 20 | 0.0375 | ||||||||||
| - employee | 33750 | |||||||||||
| - employer | 33750 | |||||||||||
| Total Contributions: | 67500 | 3375 | annually | |||||||||
| Total Vested Larissa Benefit: | 93408 | (calculated from http://www.dinkytown.net/java/InvestmentDistribution.html) | ||||||||||
| - monthly benefit | 610.74 | |||||||||||
| Total Retirement Benefit Received: | 146577.6 | (calculated from http://www.dinkytown.net/java/ImmediateAnnuity.html) | ||||||||||
| DB Benefit: | 20 | |||||||||||
| - retirement age | 65 | |||||||||||
| - service credit | 20 | years | ||||||||||
| - monthly benefit | 1800 | (calculated from http://www.calstrs.com/calculators/retbencalc.aspx) | ||||||||||
| Total Retirement Benefit Received: | 432000 | |||||||||||
| Extra Annual STRS Contribution: | 2250 | annually | ||||||||||
| Caveats | ||||||||||||
| This report is only an estimate and should not be your only source of information for retirement planning. | ||||||||||||
| By receiving a STRS DB Retirement Benefit, your Social Security benefit may be reduced. | ||||||||||||