The folks at the Empire Center for New York State Policy (a project of the Manhattan Institute, a conservative think tank) have just unveiled a little gizmo that calculates what your pension would be if you were a public employee.
It asks you to enter some basic info: target retirement age, years worked, final average salary and gender. Once you do that and hit the Calculate button, presto: You get an estimate of what your monthly and annual pension payments would be. You also get an estimate of how much money you'd need to save on your own to accrue that amount for retirement.
The calculator is online at www.NYPensionBomb.org.
- Mary Pasciak