Defined Benefit Retirement Plans

     The following prompts appear for defined benefit retirement plans:

Entered Plan Date

To calculate the retirement benefit value, enter the date the client or spouse entered the plan (Date of Employment) manually or by choosing the down arrow to enter via a calendar.  If the date is not known, the down arrow prompt to the right allows for additional options.

Years-of-Service Through Date:  If the client or spouse has a known number of years in the plan by a certain date, enter those values.

Plan History:  Choosing this option will open up a grid to enter employment dates and status of full or part-time with the % value (e.g. 50% is part-time, etc.).

Spouse's DOB

Enter the spouse's date of birth.

Notes:1. This prompt will not show up if the Illustrate Spouse Needs is checked above (the spouse's DOB will be entered on the 'Spouse' tab).
2. If there is no spouse, the value may be cleared. To clear the spouse's DOB value, press the "Backspace" key when the value is highlighted (or when the cursor is on the right side of the value).

Additional Funds

Enter additional funds to be added to the Final Average Salary. This may include items such as unused sick leave or unused vacation time. See the plan handbook for specific information.

Additional YOS

Enter additional years of service for the retirement plan. This may include military service creditable under the plan.

Deferred Retirement

Some plans allow for separation from service prior to retirement or deferring income after retirement.

Separate Before Retirement

Configure this scenario by entering these values:

Deferred Method: Select either Person's Age or Date.

If Person's Age is selected as the Deferral Method enter the Separation Age and select the Separation Month.

If Date is selected as the Deferral Method enter, enter the Separation Date.

Delay After Retirement

Configure this scenario by entering these values:

Deferred Method: Select either Person's Age or Date.

If Person's Age is selected as the Deferral Method enter the Start Age and select the Start Month.

If Date is selected as the Deferral Method enter, enter the Start Date.