The calculator allows you to enter data to calculate an unofficial projection of your estimated Municipal Employees' Annuity and Benefit Fund (MEABF) retirement benefit.
It is a projection based on information you provide. By inputting different service years and compensation amounts, you can use the calculator to approximate what your pension would be under various retirement scenarios.
Your use of the calculator has no binding effect on MEABF or the participating employer. The accuracy of the benefit projection will depend on how closely the data you enter matches your actual MEABF account data in the future. For example, if any of the variables differ from what MEABF records contain, your estimated retirement benefit will be inaccurate.
The calculator does not: take into account IRS requirements under 26 U.S.C. 401(a)(17), which limits the amount of compensation that can be considered when calculating certain defined benefits for employees who first became MEABF participants on or after January 1, 1996. That limit may restrict your final benefit.
Do not rely on the estimate as a final determination of your retirement benefit. Actual benefits can be determined only by MEABF after termination of employment and verification of employer-supplied wage, service, and benefit program information.
The calculator is provided for informational and educational purposes only. The calculator does not include any tax advice or take into account any tax effects. It is merely a tool you can use to help project your future benefits; there is no guarantee that you will receive these amounts.
The actual MEABF benefit that you receive when you retire must be calculated under the provisions of the applicable law in effect at the time of retirement.