Zhejiang Province, abbreviated as Zhe or Dian in Chinese, is located in the coastal area of southeast China. It covers an area of over 100,000 square kilometers, and has a population of 46.02 million. The capital city of Zhejiang Province is Hangzhou.
Sample formula annuity calculation for a teacher age 57, with final average monthly earnings of $3,250 and 25 years of WRS service (14 years before 2000, 11 years after 1999): Sample money purchase annuity calculation for the same age 57 teacher, who has a money purchase balance of $220,000:
If you are a CSRS-covered employee who retires before regular retirement age, your annuity is reduced by 2 percent (1/6 percent per month) for every year you are under age 55. On the other hand, if you are a FERS employee who retires early but before reaching the correct retirement age for immediate retirement, there wonât be any age penalty.