1. What is the Connecticut Teacher Pension Calculator?

The Connecticut Teacher Pension Calculator estimates retirement benefits for educators based on years of service and final average salary. It uses the standard Connecticut teacher retirement formula with a 75% maximum benefit cap.

2. How Does the Calculator Work?

The calculator uses the Connecticut teacher pension formula:

Where:

• \( YS \) — Years of Service
• \( FAS \) — Final Average Salary (USD)
• \( 2\% \) — Annual multiplier per year of service
• \( 75\% \) — Maximum benefit cap

Explanation: Teachers earn 2% of their final average salary for each year of service, with the total pension capped at 75% of their final average salary.

3. Importance of Pension Calculation

Details: Accurate pension estimation helps teachers plan for retirement, understand their future income, and make informed career decisions about service years and retirement timing.

4. Using the Calculator

Tips: Enter years of service (including partial years) and final average salary in USD. The calculator will automatically apply the 75% maximum benefit cap.

5. Frequently Asked Questions (FAQ)

Q1: What counts as years of service?
A: Years of service typically include full-time teaching years in Connecticut public schools. Part-time service may be prorated.

Q2: How is final average salary calculated?
A: FAS is usually the average of the highest 3-5 consecutive years of salary, depending on the specific retirement plan provisions.

Q3: When can teachers retire with full benefits?
A: Most Connecticut teachers can retire with full benefits at age 60 with 20 years of service, or at any age with 35 years of service.

Q4: Are there early retirement reductions?
A: Yes, retiring before meeting age and service requirements may result in reduced benefits. This calculator assumes normal retirement age.

Q5: Does this include cost-of-living adjustments?
A: No, this calculation provides the base pension amount. COLAs are typically applied annually after retirement begins.