Retirement Calculator

R E T I R E M E N T

 
 


Text Box: Your Bibb County Government Retirement

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First: To consider retirement you must be VESTED (ten (10) years) of service without breach.

 

Bibb County has two retirement plans:

  • The General Plan and
  • The Law Enforcement Plan

 

Eligibility: We have three types of retirements:

 

  1. Normal Retirement: Age 60 with 10 yrs of service, OR complete 30 yrs of service

Normal LE Ret.: Age 55 with 10 Yrs of service, OR complete 25 yrs of service.

  1. Early Retirement for both: the General and the LE Plan: Age 50 PLUS 20 yrs of service (a penalty applies).
  2. Disability Retirement: Total and permanent disability shall be determined upon report of two reputable practicing physicians. Consult Human Resources for this option.

BIBB COUNTY GOVERNMENT PENSION CALCULATOR

Disclaimer:

This pension calculator is intended to provide an ESTIMATE PROJECTION ONLY. It is not intended, and should not be taken as an Official Estimate, nor should it be relied upon as a calculation of the exact amount of your retirement.

 
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You should use this calculator as a tool to understand your retirement benefit as a portion of your retirement income. If you are seriously considering retiring within one year, please contact the Human Resources Department for an official estimate.

 

  • This calculator uses the data you enter and applies it to the Bibb County Government retirement formula.
  • The calculator does not compare that data against your actual payroll account. It is not connected to the actual payroll database.
  • The calculator will calculate a formula benefit based on the information you provide.
  • The calculator does not calculate an exact accurate calculation because of certain variables as: excess annual leave and sick leave data which affect your service time are not available because their or the calculation varies from employee to employee and is difficult to capture on this calculator. Any Unpaid Leave will also affect your service time since unpaid leave is not counted as service time and must be deducted.
  • Only base salary is used in the retirement calculation estimate. If you are unsure about your yearly salary please call the Human Resources Department and ask for this information.
  • Law Enforcement personnel must enter base salary plus the Incentive Pay if applicable.
  • No comp time or overtime is used in the retirement calculation.
  • The result of the calculation is the Regular Monthly Benefit or General Option which is the higher option (amount) available. Only the General Option is available in the calculator. No beneficiary is allowed in this option.
  • For Early Retirement consult Human Resources since some penalties apply (2% penalty of the benefit for each year by which the early retirement date precedes the normal retirement. Example: retire 3 years early = 6% reduction).
  • All other options available include beneficiaries, these options are: 1. 10 Year Certain, 2. Five Year Certain, 3. 100% Joint & Survivor Option, 4. 75% Joint & Survivor Option, 5. 66.6% Joint & Survivor Option and 6. 50% Joint & Survivor Option. All these options are based on the General Option.

At the time of retirement you will choose one of the options above.

 

The calculator is only a tool you can use to help project your future benefits; there is no guarantee that you will receive these amounts.