Calculate The Standard Disability Premium

Calculate The Standard Disability Premium

Monthly Income Benefit Premium Calculation:

*The maximum salary that is considered in calculating this benefit and premiums is $270,000 per year, or $22,500 per month.

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*The maximum covered monthly base salary for the Monthly Income Benefit is $22,500. Therefore, the maximum monthly base salary figure for Monthly Income Benefit is $22,500.
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Monthly Annuity Premium Benefit Calculation:

*Your full monthly base salary up to the annual retirement compensation limit of $345,000 if hired on or after July 1, 1996, or $505,000 if hired prior to July 1, 1996, is used to calculate the Monthly Annuity Premium Benefit.

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Total Monthly Cost:

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NOTE: The basic annual salary includes 1/12th of any additional salary paid to you by your employer for authorized work in summer school, evening classes, special seminars, and executive programs during the 12-month period immediately prior to the month in which disability occurs. The basic annual wage excludes overtime pay, bonuses, and other types of extra compensation. (If your basic annual wage consists of other than 12 monthly payments, your monthly wage base will be 1/12th of the total annual amount of such payments.)