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| OSGP Estimate Calculator |
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How to use this web page:
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Select the calculation you wish to use, Future Value of Contributions or Benefit Calculation. You will need to enter the information (variables) requested in each field. Remember that a change in any variable means a change in outcome.
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Future Value of Contributions
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The OSGP allows participants to contribute on a pre-tax basis in 2008 a minimum of $25 to a maximum of 100 percent of your income or $15,000 annually, whichever is less. An additional $5,000 may be contributed if you are at least 50 years of age. If you wish to project your account value using different monthly contribution amounts, follow the steps listed below:
- Enter the information requested (variables) in each field.
- Press the Calculate button to start the calculation.
Calculating your Future Value of Contributions:
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Variables:
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Current Account Balance: Balance from your most recent statement or from the OSGP information line. If you are not in the program, enter 0.
Monthly Contribution: Amount deducted from your paycheck for OSGP contribution. If you are not in the program, enter the amount that you wish to contribute.
Return Rate: Whatever rate of return you expect (e.g., if you wish to use 8 percent enter 8).
Proposed Retirement Date: The date you wish to stop working (and stop making contributions).
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Outcomes:
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The program will calculate the projected value of your contributions at your proposed retirement date.
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Benefit Calculation
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The OSGP will pay out in several ways. This page will allow you to prepare estimates for two of those methods, Specified Dollar Amount and Specified Period-Systematic Withdrawal Option. In addition, in each of the calculation pages you will be able to estimate a future account balance. Take the following steps to start your calculation:
- Select which method you wish to use.
- Enter the information requested (variables) in each field.
- Press the calculate bottom to start the calculation.
Calculating a Specified Dollar Amount Estimate:
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Variables:
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Current Account Balance: Balance from your most recent statement or from the OSGP information line.
Monthly Contribution: Amount deducted from your paycheck for OSGP contribution.
Return Rate: Whatever rate of return you expect (e.g., if you wish to use 8 percent enter 8).
Termination Date: The date you quit working (and quit making contributions).
Distribution Date: The date you wish to start receiving payments from the OSGP. The distribution date must be at least two months after your termination date.
Desired Monthly Benefit: The specified dollar amount you wish to receive for the length of the payout (e.g. $1,500 enter 1500).
Your Current Age.
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Outcomes:
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The program will calculate your balance at termination and distribution.
The program will calculate the estimated time over which you could expect to receive monthly benefits.
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Calculating a Specified Period - Systematic Withdrawal Option Estimate
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Calculating a Specified Period:
Variables:
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Current Account Balance: Balance from your most recent statement or from the OSGP information line.
Monthly Contribution: Amount deducted from your paycheck for OSGP contribution.
Return Rate: Whatever rate of return you expect (e.g., if you wish to use 8 percent enter 8).
Termination Date: The date you quit working (and quit making contributions).
Distribution Date: The date you wish to start receiving payments from the OSGP. The distribution date must be at least two months after your termination date.
Desired Years of Distribution: Enter the number of years that you wish to receive benefits. (Please note that this calculation provides an annual payment only. However, OSGP offers several frequencies of payment.)
Your current age.
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Outcomes:
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The program will calculate your balance at termination and distribution.
The program will provide you with a spreadsheet outlining the estimated annual benefit including the expected earnings.
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