MERS 2025 Reforms Calculator

Disclaimer

This Pension Comparison Tool provides you with estimates for the purpose of comparison. It is designed to help you estimate what the amount of your future income will be, as compared with the amount you will receive if you choose a different date of retirement.

The calculations that this tool uses to produce its estimates will include (i) assumptions about future events that might not come to pass and (ii) data you supply, and which has not been reviewed or confirmed by the staff of the Retirement Services Division. Specific factors that might further affect the accuracy of these estimates are identified below.

None of the estimates generated by this Pension Comparison Tool has been reviewed, audited, or verified by the Office of the Comptroller, the Retirement Services Division, or the State of Connecticut. Neither the Office of the Comptroller, the Retirement Services Division, nor the State of Connecticut in any way warrants or guarantees what your actual benefits will be at the time you retire. An estimate produced by this Pension Comparison Tool is not a promise or a contract; it does not create any right to receive benefits under MERS.

Risk Factors and Limitations:

• If you plan to select a benefit option that will provide income to a spouse or contingent annuitant after your death, the amount of your retirement income will be reduced to cover the cost of that option. The Pension Comparison Tool does not take account of your possible choice of such an option. This fact might make the estimate it produces higher than the actual amount of your future retirement income.
• The Pension Comparison Tool allows you to compare estimates, based on different dates of retirement, of what will be your total income from the Connecticut Municipal Retirement System and your current employer. These estimates do not take account of any salary you might receive from other employers or any income you will receive from other sources.
• The estimates produced by the Pension Comparison Tool are stated in gross amounts; your actual income will be subject to taxation.
• Your actual retirement benefit will be officially calculated by our retirement auditors at the time of your retirement, in accordance with the rules and conditions governing MERS.
• Section 415(b) of the Internal Revenue Code, 26 U.S.C. § 415(b), imposes limits on the amount of retirement benefit that an individual may receive. The estimate provided by the Pension Comparison Tool might not fully incorporate the requirements of the Internal Revenue Code.
• In addition, the Pension Comparison Tool will not calculate estimates of how a benefit will be adjusted as a result of a divorce decree.
• This Pension Comparison Tool assumes salaries increase 2% per year, CPI increases at 2% per year, the form of benefit is Life Annuity, expected age of death is 86 and interest earned in the DROP is 4% per year. Actual results will be different than displayed as reality will not match the assumptions exactly. Please see a financial advisor prior to making any important retirement decisions.

Conclusion

The Office of the State Comptroller and the Retirement Services Division reserve the right to revise, change, or revoke without notice the information, rules, and procedures used to calculate the estimate provided by this Pension Comparison Tool.