A retirement planning tool provided by the Nevada Public Employees’ Retirement System (PERS) allows employees to estimate their future retirement benefits based on factors such as years of service, salary history, and retirement plan options. A hypothetical example could involve an employee with 20 years of service, a final average salary of $60,000, and selection of a specific retirement plan, leading to a projected monthly benefit estimate.
Access to accurate retirement benefit projections is crucial for informed financial planning. Such a tool empowers employees to make sound decisions regarding savings, investments, and retirement timing. Understanding potential retirement income allows for a more secure financial future and reduces uncertainty. Historically, access to these tools has evolved from paper-based calculations to sophisticated online platforms, reflecting an increasing emphasis on financial transparency and employee empowerment.
