Past Service Benefit + Future Service Benefit = Total Monthly Benefit
Total Monthly Benefit x Early Retirement Reduction = Single Lifetime Monthly Income
Single Monthly Income x Joint and Survivor Reduction = Joint Lifetime Monthly Income
In the first equation, your monthly benefit earned for each year of covered service is added together to determine your total monthly benefit. In the second and third equations, your monthly benefit is adjusted to compensate for early retirement (if applicable) and the payment of a survivor’s benefit (also if applicable). |
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