Handouts

Helping Teachers To Retire Bill Sudol Teachers’ Retirement Board Executive Director - Retired

John Kowalsky Independent Broker Husband of Retiring Teacher

CABE and CAPSS are announcing a partnership with Counselors for Senior Teachers (CST) to help our teachers to retire.

CST has skills and experience to offer our members a Tax-Advantaged Program which would benefit both the school district and teachers Wanting to retire. CABE and CAPSS are continually working with boards of education and Superintendents to be sure of providing timely assistance to make effective decisions.

I WANT TO RETIRE INCOME

EXPENSES

INFORMATION

SOLUTIONS Tax-Advantage Programs

1. CST realizes that the greatest obstacle facing many teachers who are Considering retirement is – “sticker shock” – the cost of post – retirement “health insurance.” 2. Helping teachers to fully understand the retirement benefits they are Eligible to receive from the Connecticut Teacher’s Retirement System (group seminars, individual consults).

SAMPLE: TEACHER AGE 62 Present Teachers Salary (Age 62) New Teacher Salary

Salary Difference Incentive Cost Salary Savings

$80,000.00 $40,000.00

$40,000.00 $10,000.00 $30,000.00

Prepared Especially for: Ret. Date Date of Birth Age Years of Service Type Retirement Base Percentage Annuity Factor 60.00 0.00812

Ima Teacher

Prepared on: 9/27/2012

7/1/2013 6/25/1953 60 32 Normal 64.0000%

Salaries 2012-13 2011-12 2010-11 Total Aver. Salary

FTE 100.0000% $72,456.00 $71,752.00 $69,779.00 $213,987.00 $71,329.00

Plan N, Normal Allowance Aver. Salary Times Base Percentage = Ann. Ben/12 = Monthly Plan N $71,329.00 64.0000% $45,650.56 $3,804.21 1% Supp. Balance 6/30/2011 $23,456.78 $190.47 Voluntary Balance 6/30/2011 $23,123.45 $187.76 Total $4,182.44 Plan C, Period Certain 5 Years 99.60% $3,789.00 $189.71 $187.01 $4,165.72

10 Year 98.80% $3,758.56 $188.18 $185.51 $4,132.26

15 Years 96.90% $3,686.28 $184.56 $181.94 $4,052.79

20 Years 94.50% $3,594.98 $179.99 $177.44 $3,952.41

25 Years 91.60% $3,484.66 $174.47 $171.99 $3,831.12

Plan D, Co-participant Option 100% Factor 89.10% Plan D Base $3,389.55 1% Supp. $169.71 Voluntary $167.30 Total $3,726.56

75% 91.70% $3,488.46 $174.66 $172.18 $3,835.30

ages 66.67% 92.50% $3,518.90 $176.18 $173.68 $3,868.76

60 50% 94.40% $3,591.18 $179.80 $177.25 $3,948.23

61 33.33% 96.30% $3,663.46 $183.42 $180.82 $4,027.69

Factor Plan C Base 1% Supp. Voluntary Total

This estimate is based on salary information provided by the client and/or data as indicated on the client’s Annual Member St atement.

CST will meet with the school districts for detailed discussions. We wish you God Speed with your critical implementation of Next Ed Thank You Bill Sudol

John Kowalsky