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Online Pension Calculator User Guide Pension Plan Participants can access the Online Pension Calculator, by going to HR Self Service > Savings and Retirement > Pension Calculator.
Enter date of separation from employment or date of retirement. Or enter age at time of separation from employment or age at time of retirement. Employee Name
Then enter date of commencement of payment. Or enter age at date of commencement of benefit payment.
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Enter assumed annual base salary increases (average of projected increases applied in January of each projected year). Enter assumed annual non-base awards (average of projected annual non-base awards applied in January of each projected year).
If you are anticipating a schedule change, enter the number of hours to be scheduled per week. This change will be applied for the current month through the separation date. Hours must total at least 20 and no more than 40. If you are not changing schedules, please leave blank.
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If you would like to see the effect of naming someone other than a spouse as your survivor annuitant on your pension benefit, please enter the date of birth of this person. For more detailed information about this option you can hold your cursor over the Information Box.
If this box is displayed, it is because you have entered a payment start date that is after your separation date. In this case, you have the option to safe guard the pension benefit during the period of time between separation date and payment commencement date, ensuring that a portion of the benefit would be paid to your qualified spouse in the event of your death. This is referred to as Pre Retirement Survivor Annuity Coverage (PRSA). You must elect or waive the coverage. For more detailed information about this option, you can hold your cursor over the Information Box.
Click this button to see your pension estimate once you have entered your assumptions.
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If you receive this information, you are not retirement eligible or are not eligible to commence benefit payment on the date(s) you selected. You must meet both of the minimum requirements for retirement eligibility. Or if separating prior to meeting these requirements, but after vesting in the pension plan, you must enter a commencement date or age at which you are eligible to commence benefit payment (generally age 65).
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When entering a date at which you are retirement eligible or entering a date at which you may commence benefit payment after separation of employment, you will receive a pension calculation that appears as follows:
Gross monthly pension benefit prior to Survivor election. Clicking this link will generate a list of historical earnings used to calculate the benefit, which will be emailed to you. Please note, there is a limit on how many times this can be requested each day.
Gross monthly benefit after Survivor options applied.
Clicking this link will produce a PDF version of the calculation results allowing you to save or print.
Detailed information regarding age, reduction and postponement
factors, service and earnings used to calculate the benefit.
Links throughout the calculation take you to additional information or to additional resource websites such as Social Security Administration and Fidelity NetBenefits (from which you can access Financial Engines – review the following pages for guidance on using Fidelity NetBenefits and Financial Engines).
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For your current account balance in the Sandia Savings and Income Plan, go to Fidelity NetBenefits at www.401k.com...
…Your current account balance in the Sandia Savings and Income Plan will be displayed. For online investment advice and/or account management services from Financial Engines, click on the Financial Engines “bricklet”…
You will leave Fidelity NetBenefits…
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…and be directed to Financial Engines where you can “Get Advice.”
For assistance, click on “Get Help”… …or contact Financial Engines customer support:
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