Pensions

Pension Anomaly

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I entered A pension for 2017 that is $17001 per year.
However, the "Pension Income" for 2017 in the report shows $17419. How is this calculated? For this profile run, I set the "degree of inflation indexation of annual benefit" to zero. "Current Inflation rate" is set to 4%. Regular assets growth is set to 1%
I also ran this profile with "Current Inflation Rate" and regular assets growth both set to zero and the 2017 Pension Income was the same $17419.
I don't understand the results. Shouldn't my 2017 pension in the report match what I've enetered?
Thanks

Why does the pension amount decrease over time

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The federal gov't pension includes a COLA (just like social security). When inputting the pension information I enter the degree of inflation index amount equal to the inflation number entered in assumptions. I would expect the pension to then report as the same value in each future year (just like social security values). However, the pension amount decreases each year. So, it is still being discounted.

Entering fixed annual COLA increases for pensions

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My wife receives a non-covered pension from a state teachers retirement system. She receives a flat amount, not a percent, of a COLA increase annually (e.g. $800/yr). I entered her pension as non-covered with zero % annual increase in ESPlanner. To account for the annual flat COLA increase, I added a Special Receipts entry of $800 (dollars, not today's dollar) for each and every year from now until she turns 100 (i.e. $800 starting 2015 for 38 years, $800 starting 2016 for 37 years, etc.). I believe that this approach accurately accounts for her yearly total income.

Pension Value For Current Year

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I have an entry in the Pensions tab for a previous year (2012) for a pension that has 0 inflation indexation. In the reports the value for the pension for 2015 has been discounted from the value that was entered in 2012. But the value of the pension received in 2015 is the same as it was in 2012. Do I have to re-enter the pension each new year to maintain a constant nominal value in the current year?

Pension Offset

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I have a retirement pension plan with my company. Once I start my pension is does not have any COLA increase. But, because my company contributed to my Social Security, my pension does have a onetime adjustment, as soon as I reach the age of 62 (even if I delay social security). It there a way to adjust my pension parameters to include this deduction once I turn 62?

Joe

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