Methodology: Unlike standardly available Census demographics, NeighborhoodScout uses dozens of custom models to transform 8.5 million raw demographic data elements from government sources into proprietary indices and insightsâ¦.
Benefit Payments and Direct Deposit. When your pension begins, you receive a benefit payment each month (unless you receive a mandatory cash-out payment or you have elected a voluntary cash-out of your benefit). You can elect payment by mail or through electronic direct deposit. We encourage benefit recipients to sign up for direct deposit.
In 2015, the annual benefit payable at retirement can be as high as $210,000 per year. As a result, annual contributions into a Defined Benefit Plan can be even larger than $210,000 in some cases in order to meet that level of retirement income target. There are a number of factors involved with this calculation. Client's income-The calculation is based on the average of the client's highest 3 years of income. 2  The greater the income then the greater the annual contribution can be (up to certain limits). 3  Depending on a client's income, the annual benefit payable at retirement can be as high as $210,000 per year in 2015.