How to Use the Pension Estimator
Please follow these steps...
-
These instructions will help guide you through the process of entering your own personalized data into this Estimator Program. Please read all of the instructions, and you will find the link to begin the Pension Estimator Program at the bottom of this page. Choose the Program that suits your employment: General Government OR Police & Fire.
-
Please do not be alarmed if a message about "macros" appears when you launch the Estimator Program. Macros are essential to the functioning of this program. Simply click OK if that message pops up. In addition, if a box pops up that seems as if you need to enter a password, make sure the button beside "Anonymous" is noted. You should then be able to launch the Estimator program.
-
When you begin the Estimator program, you will see "sample" information appearing in each field. Please delete the sample information and insert your own personal information.
Instructions on how to use the pension estimator
This estimator is for employees who qualify for a pension under Division B. For those people who are in Division A there is not a pension estimator available on-line. If you are a member of Division A and would like an estimate of your pension you can receive one by calling Benefit Services at 862-6700.
Please follow these steps to use the pension estimator:
- Select your pension plan- either General Government or Police and Fire. If you do not know what plan you are in contact your HR Coordinator.
- Enter in the appropriate boxes your name, SS#, DOB, and your Spouse's DOB (if applicable).
- Enter your anticipated retirement date in the benefit start date box.
- Enter your last day on the payroll in the Termination date box.
- Enter your years and months of service in the appropriate boxes. If you have had breaks in service or were not enrolled in benefits for a period of time, please exclude these periods. Your total credited service is an important factor in this estimate. Service is credited as follows: For any month you work less than 40 hours you receive no credit. If you work 40-80 hours you get half credit. If you work more than 80 hours you will receive full credit for the month.
- Enter your 5 highest consecutive years of earnings at Metro, which is what your pension is based on. This information is critical in determining your pension benefit. You may wish to refer to your W-2's for the last five years. If you overestimate your earnings in this estimate, your actual pension calculation at retirement will be lower.
- To see your estimated benefit options, click on the output tab at the bottom of the window.
- If you are eligible for the DROP option, those results will be reflected in the output tab that is labeled DROP at the bottom of the Window.
The estimate that you receive from this calculator is just that. It is only an estimate; the information that you input is what your results will be based on. When you actually apply for your pension the amount may differ. If you have any questions please call Benefits Services at 862-6700.
Please note: it is very important to understand how your service is determined. If you over-estimate your service, your benefits will also be over-estimated, or you may see benefits for which you are not eligible. In general, you must work 80 hours during a month to receive full credit. You may work 30 days in a month but not get full credit for the month (if you didn't work 80 hours). On the other hand, you may only work 15 days in a month and receive full credit (if you work at least 80 hours). For further details on how your service is calculated, please refer to page 17 of the Retirement Guide (these pages may also be found online under the 457 Plan section of the Inside Metro Employee Handbook).
Who is eligible for the DROP