This pension benefit estimator is intended to allow you to estimate your monthly pension benefit at retirement. Please note that that this is only an ESTIMATE and is based upon the information that you enter into the input screen below. At the time of your retirement, your actual benefits payable will be calculated by the Plan administrator in accordance with the legal document governing the Plan. In the case of any discrepancies in the information provided here with the actual provisions of the Plan, the actual Plan document will prevail.
All salaried policemen and firemen of the City of North Kansas City are eligible to participate in the Plan on their employment date. Normal Retirement is the first of the month coincident with or immediately following the attainment of age 55 & 10. Early Retirement eligibility is age 45 with 25 Years of Service.
Average Annual Salary used in the calculation of your benefit is based on the highest 36 month average. When you enter "Annual Salary at Retirement", you should assume a 3 year average.
Single Life Annuity: Under this form of benefit, you will receive a monthly payment for the remainder of your life. This option provides no death benefit and no benefits are paid after your death to your spouse or designated beneficiary.
Popup Joint and Survivor Annuity: A 50%, 75% or 100% Joint and Survivor Annuity provides for reduced monthly benefits for your lifetime. If you die after your benefits commence, 50%, 75% or 100% of your original benefits continue after your death to your spouse for the remainder of your spouse's life. Your surviving spouse's benefit starts following your death, and continues for their lifetime. If your spouse dies after benefit payments to you start, your monthly benefit will revert to the Life Annuity amount shown and be payable for the rest of your lifetime. No benefit will be paid to anyone after your death.
Joint and Survivor Annuity: A 50%, 75% or 100% Joint and Survivor Annuity provides for reduced monthly benefits for your lifetime. If you die after your benefits commence, 50%, 75% or 100% of your original benefits continue after your death to your spouse for the remainder of your spouse's life. Your surviving spouse's benefit starts following your death, and continues for their lifetime. If your spouse dies after benefit payments to you start, there will be no change in the amount of the monthly benefits payable to you during your lifetime, and no benefit will be paid to anyone after your death.
Life Annuity with 5, 10 or 15 years guaranteed: Under this form of benefit, you will receive a monthly payment for the remainder of your life. If you die before the end of the guaranteed period, benefits will continue to your beneficiary for the remainder of the guaranteed period.
Questions or feedback about this calculator? Please email Traci@mcgkc.com.