- Joins HOOPP at age 25
- Earns $28 hourly
- Works 20 hours/week
- Contributes $77 every two weeks
Audrey retires at age 65. She receives a monthly pension of $1,456 for the rest of her life.
TOTAL HOOPP CONTRIBUTIONS
| TOTAL PENSION RECEIVED BY AGE 80 |
---|
$80,080
| $262,080
|
In just 15 years of retirement, Audrey has received more money from her HOOPP pension than she contributed over the span of 40 years. Plus, this amount can increase over time with any applicable cost of living adjustments, as approved by HOOPP's Board of Trustees.
- Joins HOOPP at age 36
- Earns $42 hourly
- Works 30 hours/week
- Contributes $185 every two weeks
Nisha retires at age 65. She receives a monthly pension of $2,523 for the rest of her life.
TOTAL HOOPP CONTRIBUTIONS
| TOTAL PENSION RECEIVED BY AGE 80 |
---|
$139,490
| $454,140
|
In just 15 years of retirement, Nisha has received more money from her HOOPP pension than she contributed over the span of 29 years. Plus, this amount can increase over time with any applicable cost of living adjustments, as approved by HOOPP's Board of Trustees.
- Joins HOOPP at age 44
- Earns $35 hourly
- Works 34 hours/week
- Contributes $166 every two weeks
Eduardo retires at age 65. He receives a monthly pension of $1,637 for the rest of his life.
TOTAL HOOPP CONTRIBUTIONS
| TOTAL PENSION RECEIVED BY AGE 80 |
---|
$90,636
| $294,660
|
In just 15 years of retirement, Eduardo has received more money from his HOOPP pension than he contributed over the span of 21 years. Plus, this amount can increase over time with any applicable cost of living adjustments, as approved by HOOPP's Board of Trustees.
- Joins HOOPP at age 52
- Earns $32 hourly
- Works 20 hours/week
- Contributes $88 every two weeks
Lori retires at age 65. She receives a monthly pension of $541 for the rest of her life.
TOTAL HOOPP CONTRIBUTIONS
| TOTAL PENSION RECEIVED BY AGE 80 |
---|
$29,744
| $97,380
|
Although Lori joins later in her career, any amount of time contributing to the Plan positively increases her retirement security. By age 80, she has already received more in HOOPP pension payments than she contributed in 13 years. Plus, this amount can increase over time with any applicable cost of living adjustments, as approved by HOOPP's Board of Trustees.