Page 19 - 000 Complete EBook - 403(b) & 457(b) Test 12202017 1
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An Example of Teacher Retirement Benefits
Example provided by Pro Benefits Group, Inc. of what your retirement may look like at age 60.
Example of 36 year old teacher
Spouse age 36
Current Contract $44,000 with annual inflation factor at 3%
Retirement System Estimate for Valued Educator
Arkansas Teacher Retirement System (ATRS)
October 21, 2015
Straight Life Annuity (Option 1) You will receive a benefit for the rest of your life. Upon your death, your beneficiary will receive the balance of any contributions
you paid into the plan but had not yet received back in benefits.
Annual benefit, while both live $69,217
If you die first $0
If your beneficiary dies first $69,217
Option A You will receive a modified benefit for the rest of your life. Upon your death, your beneficiary (if still living) continues to receive for the rest of his/her life
the same benefit that you were receiving. If your beneficiary dies first, however, the benefit will rise back to the unmodified level.
Annual benefit, while both live $59,326
If you die first $59,326
If your beneficiary dies first $69,217
Option B You will receive a modified benefit for the rest of your life. Upon your death, your beneficiary (if still living) continues to receive for the rest of his/her life
one half of the benefit that you were receiving. If your beneficiary dies first, however, the benefit will rise back to the unmodified level.
Annual benefit, while both live $63,891
If you die first $31,946
If your beneficiary dies first $69,217
Option C You will receive a benefit for the rest of your life. If you die before 120 payments (10 years worth) are received, the rest of the 120 payments will be made
to your beneficiary, then payments will stop. If you die after 120 or more payments have been received, no further benefit will be paid. If your beneficiary dies
before the 10-year period ends, the benefit will rise back to the unmodified level.
Annual benefit, while both live $66,468
If you die first $0
If your beneficiary dies first $69,217
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