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How many years does it take for the average retiree to exhaust his or her contributions plus interest?

April 26, 2017average contributions exhaust Plus retiree

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How many years does it take for the average retiree to exhaust his or her contributions plus interest?

1 Answer

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A retiree cannot exhaust his contributions plus interest, because benefits are not directly related to the amount of contributions. Instead, a formula in the law is used to determine a monthly benefit based on an individual’s average career earnings and year of retirement.