[Mouton]

FMI, are those pensions fixed at that final figure, or are they adjusted for CPI or somesuch??

[ken5050]

I was trying to give you a general idea how the formulas work..I'm not that familiar with the Michigan state teacher's pension system..I don't know if there are COLAs or not,or what the %s are..

Some states use an average of the last 3, or 5 years salary to compute the FAS..others just use the LAST year..which is often inflated..there are so many abuses in the system. Do note that the number, whatever it is...is for a maximum, non-survivor annuity option..