Website Main Menu

Social Security Income - Worksheet 5

The worksheet below can help you add projected Social Security income to your projected PERS income. This will help you determine if these two income sources - or two legs of the three-legged retirement stool - may provide sufficient retirement income.

You will need specific information from Social Security to complete the following worksheet. You can receive Social Security estimates from your annual Social Security statement or by contacting the Social Security Administration at: Your annual Social Security statement provides estimated benefits at:
  • Your earliest eligible age
  • Your full retirement age
The worksheet and examples below assume a combined PERS and Social Security income at your full retirement age for Social Security. However, if - for example - you retire and draw your PERS retirement plan benefit at age 55, but are not eligible to draw a Social Security benefit until age 65, you will need to determine how to fill the income "gap" in the years between age 55 and 65.

Worksheet 5 - at full retirement age for Social Security


  DCRP
Income
Example 1		 DBRP
Income
Example 1		 DCRP
Income
Example 2		 DBRP
Income
Example 2		 Your Planning
Projected Social Security Income
(from Social Security Statement)		 $1,081 $1,081 $1,081 $1,081  
Projected PERS Income
(from worksheets 2 & 3)		 $1,133 $490 $1,907 $2,109  
Total Projected Retirement Income $2,214 $1,571 $2,988 $3,190  
Projected Monthly
Retirement Income Need
(from worksheet 1)		 $2,560 $2,560 $2,560 $2,560  
Retirement Income
Shortage or Surplus		 -$346 -$989 +$428 +$630  

You may wish to calculate your combined PERS and Social Security Income at your earliest eligible age for Social Security also.

Additional Considerations