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KPPA demo: benefit estimator, service‑purchase calculator and IPS payroll tool
Summary
KPPA demonstrated the benefit estimate wizard, a service purchase calculator with a recontribution example and an IPS payroll‑deduction calculator that uses a fixed 7.5% interest rate and contract lengths of one to five years.
James Isaacs walked attendees through three calculators available in Member Self‑Service: the benefit estimate, the service purchase calculator and the IPS payroll‑deduction calculator.
On the benefit estimator, Isaacs described the five‑tab workflow that collects membership, beneficiary and salary information to project retirement dates and monthly payments; results include a collapsible view of the math behind the calculation and links to tax‑withholding tools. For service purchases, he demonstrated a recontribution example: a 27‑month refunded period with an original refund of $3,819.81 and a repurchase estimate shown as $14,655.16 as of December 2024. “The cost to repurchase the refund as of December 2024 is $14,655.16,” he said.
Isaacs explained the IPS calculator fields (down payment, interest rate and contract length), noting the interest rate is currently set at 7.5% and cannot be changed; contract lengths run from one to five years. The IPS results include principal, monthly payment and an amortization schedule showing interest and principal over the life of the contract.
