HOW TO FIGURE YOUR FIRST MONTHS PENSION AMOUNT

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This page is designed to help figure the first months partial pension. Probably more useful the Pension Board Members but this is the logical place to store it. Use the following procedure:

Applicants Name __________________________

Date of Birth ____________________________ 		Date of Entry ____________________________

Last Date Worked _________________________

Current Rate of Pay ______________________
First Months Partial Pension

Number of days in month -(minus) Number of days worked including days off = Number of days retired that month /(divided by) 365 = Fraction of year retired that month

-(minus)
=
/(divided by) 365 =


Fraction of year retired that month X(times) Annual Pension = First Months Pension

X(times)
=

Example:

Worked 13 days of his last month, that month had 31 days, and received a $32,000/year pension.

Number of days in month -(minus) Number of days worked including days off = Number of days retired that month /(divided by) 365 = Fraction of year retired that month
31 -(minus) 13 = 18 /(divided by) 365 = .0493


Fraction of year retired that month X(times) Annual Pension = First Months Pension
.0493 X(times) $32,000 = $1578.08


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