What The Pension Benefit Estimator Can and Cannot Do
|The Web-Based Estimator CAN….
The Web-Based Estimator CANNOT….
- Determine eligibility for an annuity benefit.
- Estimate the maximum annuity for members.
- Estimate survivorship options, regardless of whether the survivor is the member’s spouse.
- Determine eligibility for GPS lump sum benefits.
- Estimate GPS lump sum benefits for members.
- Define ERS terms for members.
- List eligibility rules for retirement.
- Calculate estimates for three retirement types: Service, Early and Deferred.
- Estimate benefits for GPS consenters and non-consenters.
- Estimate benefits regardless of membership status on January 1, 2000.
- Estimate benefits for persons with breaks in service if total creditable service is entered.
- Produce accurate results for the following groups of members:
- Members that have State or County service.
- Members that have prior seasonal service.
- Members that qualify for military service credit.
- Members with some combination of police, fire, general city and elected official service.
- Calculate the amount in member’s annuity account.
- Calculate the lump sum withdrawal option amount.
- Calculate death benefits.
- Calculate Social Security advance.
- Calculate Disability or Involuntary Separation retirement benefits.
- Calculate accurate Early Retirement benefits for members hired after 2013.
Read And Accept The Disclaimer
The Retirement Benefit Estimator is a planning tool that provides you with an unofficial estimate of your monthly and lump sum benefits at retirement. This is not an official ERS estimate and ERS is not bound by the results. In the event of a conflict between the Retirement Benefit Estimator projections and the official ERS benefit calculation, ERS’ official benefit calculations will govern. The benefit you receive from ERS is and will be determined pursuant to the provisions of Chapter 36 of the Milwaukee City Charter, the Rules and Regulations of the Annuity and Pension Board, and applicable legal opinions. The results presented by the tool should only be used as a guideline for your personal retirement planning