Try Out the Retirement Choice Tool
For eligible support staff, one of the most important tools for making your Retirement Choice decision is the online Retirement Choice Tool, which goes live on March 18. The Retirement Choice Tool is pre-populated with participants’ personal data, which includes age, base salary, date of hire, accrued balance in the Support Staff Pension Plan as of June 30, 2010 and Staff Voluntary 403(b) Plan balances as of February 28, 2011. It then projects future retirement benefits under each option. If you're eligible for Retirement Choice, you may access the tool by visiting benefits.jhu.edu/mychoices
The tool projects future retirement benefits based on a set of assumptions that include expected salary increases and investment returns. By default, these assumptions are set to project a moderate estimate; however, you can change these assumptions to be more conservative or more aggressive. Changing these assumptions shows how these factors impact your retirement benefit under each plan. That is why it is important to consider these factors when making a selection.
Log on to benefits.jhu.edu/mychoices before April 15, 2011 to compare the plans using the Retirement Choice Tool.