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The spreadsheet linked below was created in Excel 7.0 and is usable with Windows 95
or later versions of the Windows operating systems. This interactive spreadsheet can
assist you in estimating the amount of retirement benefits and interest you can
accumulate under the Deferred Retirement Option Program (DROP).
DROP Excel Spreadsheet
To use this spreadsheet, open it in your browser or download it to your computer.
(If you have Excel and your browser permits, you may be able to use the sheet
within your browser by simply left-clicking on the link above. If not, you may
right-click on the link above and save the file to a folder on your PC, where you
can open it within Excel (or another spreadsheet program if the file is accepted
by the program).
When the worksheet opens, in the whiteboxes (changes are limited to these areas)
, enter the amount of your estimated
monthly retirement benefit
* and the dates you want to begin and end your DROP participation
(maximum of 60 months’ participation). Based on the information you enter,
the spreadsheet will automatically estimate the amount you would accumulate in
DROP and will display the result. You may save the worksheet results locally.
Notes: The estimate provided may underestimate slightly the actual DROP benefits you may
accrue.
- The validity of your estimate will depend on the accuracy of the information you
provide.
- The closer you are to retiring and starting DROP when you obtain an estimate,
the more realistic your estimate will likely be. Earlier estimates depend on
assumptions that tend to be true for the membership as a whole, but may differ
from your individual experience. This could result in higher or lower estimated
DROP amounts than the DROP benefits you may actually accrue.
- In any event, your actual DROP proceeds may be slightly different from the
estimate due to the spreadsheet's rounding logic.
- As an active member of the FRS Pension Plan, you can look up your projected
benefit estimate in your Member Annual Statement (mailed to active members each
year). You can also estimate your monthly retirement benefit (including your
DROP proceeds) using the interactive features of Retirement Online. You will
need a password to enter this secure web area where members can perform benefit
estimates including DROP estimates based on their individual retirement
records. If you don't know your password, help is available online (look for the
help button at the login screen). To enter this interactive web area, you must logon
and select Manage Pension.
Back to DROP page |
