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ERFC7B Request for Estimates of Retirement Benefits for ERFC-2001 and or VRS Members

ERFC7B Request for Estimates of Retirement Benefits for ERFC-2001 and or VRS Members-2025

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The document outlines the process for requesting estimates of retirement benefits for members of the Educational Employees’ Supplementary Retirement System of Fairfax County (ERFC) and Virginia Retirement System (VRS). It specifies eligibility criteria, required information for processing requests, and details various retirement benefit payment options available to members. The document emphasizes the importance of accurate information submission and provides a timeline for receiving estimates.

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2019	4.8 Satisfied (152 Votes)
2017	4.1 Satisfied (52 Votes)

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We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

How do I find out how much I will get for retirement?

As you make plans for your retirement, you may ask, How much will I get from Social Security? To find out, you can use the Retirement Estimator at .socialsecurity.gov/estimator. Workers age 18 and older also can go online, create a personal account and request their Social Security Statement.

How do I find out my retirement money?

How to find a lost 401(k) Track down old 401(k) plan statements. Contact former employers. Find 401(k) plan information through the Labor Department. Search databases for unclaimed assets. Roll over the old 401(k) account into your current employers plan. Roll over the old 401(k) account into an IRA.

How do I find out what my retirement benefits will be?

If you have a personal my Social Security account, you can get an estimate of your future retirement benefits and see the effects of different retirement age scenarios. If you dont have a personal my Social Security account, create one at .ssa.gov/myaccount.

How does vrs calculate retirement?

The Basic Benefit is a monthly benefit in retirement based on your age, total years of service credit and average final compensation. The unreduced benefit is calculated using a percentage of your average final compensation multiplied by your total years of service credit.

How do I request a federal retirement estimate?

At your request, using the form SSA-7004, the Social Security Administration will send you a Personal Earnings and Benefits Statement (PEBES) that will list your earnings from employment covered by Social Security and provide a Social Security benefit estimate assuming retirement at alternative ages, 62, 65, and 70.

How do I figure out how much Social Security I will get?

Social Security benefits are typically computed using average indexed monthly earnings. This average summarizes up to 35 years of a workers indexed earnings. We apply a formula to this average to compute the primary insurance amount (PIA). The PIA is the basis for the benefits that are paid to an individual.

How long does it take to be vested in vrs retirement?

You become vested when you have at least five years (60 months) of service credit. Vesting means you are eligible to qualify for retirement if you meet the age and service requirements for your plan.

How much Social Security will I get if I make $60,000 a year?

0:20 2:51 Them all together then divides that number by 420. The number of months and 35 years that gives youMoreThem all together then divides that number by 420. The number of months and 35 years that gives you $5,000. Still with me that.

ERFC7B Request for Estimates of Retirement Benefits for ERFC-2001 and or VRS Members-2025

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