Helping Teachers To Retire
Bill Sudol
Teachers’ Retirement Board
Executive Director - Retired
John Kowalsky
Independent Broker
Husband of Retiring Teacher
CABE and CAPSS are announcing a partnership with Counselors
for Senior Teachers (CST) to help our teachers to retire.
CST has skills and experience to offer our members a Tax-Advantaged
Program which would benefit both the school district and teachers
Wanting to retire.
CABE and CAPSS are continually working with boards of education
and Superintendents to be sure of providing timely assistance to make
effective decisions.
I WANT TO RETIRE
INCOME
EXPENSES
INFORMATION
SOLUTIONS
Tax-Advantage Programs
1. CST realizes that the greatest obstacle facing many teachers who are
Considering retirement is – “sticker shock” – the cost of post – retirement
“health insurance.”
2. Helping teachers to fully understand the retirement benefits they are
Eligible to receive from the Connecticut Teacher’s Retirement System
(group seminars, individual consults).
SAMPLE: TEACHER AGE 62
Present Teachers
Salary (Age 62)
New Teacher
Salary
Salary Difference
Incentive Cost
Salary Savings
$80,000.00
$40,000.00
$40,000.00
$10,000.00
$30,000.00
Prepared Especially for:
Ret. Date
Date of Birth
Age
Years of Service
Type Retirement
Base Percentage
Annuity Factor 60.00 0.00812
Ima Teacher
Prepared on: 9/27/2012
7/1/2013
6/25/1953
60
32
Normal
64.0000%
Salaries
2012-13
2011-12
2010-11
Total
Aver. Salary
FTE 100.0000%
$72,456.00
$71,752.00
$69,779.00
$213,987.00
$71,329.00
Plan N, Normal Allowance
Aver. Salary Times Base Percentage = Ann. Ben/12 = Monthly Plan N
$71,329.00
64.0000%
$45,650.56
$3,804.21
1% Supp. Balance
6/30/2011
$23,456.78
$190.47
Voluntary Balance
6/30/2011
$23,123.45
$187.76
Total
$4,182.44
Plan C, Period Certain
5 Years
99.60%
$3,789.00
$189.71
$187.01
$4,165.72
10 Year
98.80%
$3,758.56
$188.18
$185.51
$4,132.26
15 Years
96.90%
$3,686.28
$184.56
$181.94
$4,052.79
20 Years
94.50%
$3,594.98
$179.99
$177.44
$3,952.41
25 Years
91.60%
$3,484.66
$174.47
$171.99
$3,831.12
Plan D, Co-participant Option
100%
Factor
89.10%
Plan D Base
$3,389.55
1% Supp.
$169.71
Voluntary
$167.30
Total
$3,726.56
75%
91.70%
$3,488.46
$174.66
$172.18
$3,835.30
ages
66.67%
92.50%
$3,518.90
$176.18
$173.68
$3,868.76
60
50%
94.40%
$3,591.18
$179.80
$177.25
$3,948.23
61
33.33%
96.30%
$3,663.46
$183.42
$180.82
$4,027.69
Factor
Plan C Base
1% Supp.
Voluntary
Total
This estimate is based on salary information provided by the client and/or data as indicated on the client’s Annual Member St atement.
CST will meet with the school districts for detailed discussions.
We wish you God Speed with your critical implementation of
Next Ed
Thank You
Bill Sudol
John Kowalsky