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COLA Loss Calculator
Calculate what losing 2/3 of your January 2008 COLA will mean to you .
Now, estimate your lost ERS benefits over your LIFETIME using this calculation.
PLEASE NOTE: This loss calculator is provided solely as an estimating tool. The calculator does not use actual life expectancy tables but simply sets life expectancy at 79 years, or if you are currently over age 75, then 5 years is used. This formula produces a conservative estimate. For most people, if they were to use the actual tables, the resulting losses could be much higher.
SAMPLE For a 68 year old drawing $27,000 a year ($2,250 per month)
NOTE Members of the Legislative, Judicial, PSERS and Teachers Retirement Systems may use this calculator to estimate the impact of the loss of 2/3 of a COLA increase (1%) to them should their retirement system follow the lead of the ERS retirement system and begin reducing COLA increases. (The estimate does not take into account any differences in calculations between the ERS and these other systems.)
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