Combine your pension, Social Security, and savings into one before-tax monthly retirement paycheck estimate, and see when each piece begins. This version does not estimate taxes.
"How much will I actually get each month?" is the question that nobody really answers. Your CalPERS or UCRP statement tells you a gross pension number. Social Security tells you a different number at your full retirement age. Your 403(b)/457(b)/Roth IRA balance is a lump sum, not a stream. Putting them together — and seeing when each piece starts — is where most people stop.
This tool puts them on one page. It uses the income streams and account balances you have entered in your plan: pensions (from any system, entered as an income stream), Social Security with the start year you choose, and your retirement and investment accounts. It shows:
A "Try a what-if" slider lets you move the retirement age to see how the picture changes, without changing your saved plan.
What this version does not do. It does not estimate taxes on your retirement income — federal or state income tax, Social Security taxation, or pension tax treatment — and it does not model Medicare premiums or IRMAA, required minimum distributions, the order of withdrawals across taxable, traditional, and Roth accounts, or survivor income. Treat the result as a before-tax starting point and plan for those separately.
Step 1 — Enter your income streams. In your plan's Income section, add each pension as an income stream with its monthly amount and start year. Add Social Security for you (and your spouse) with the monthly benefit and start year from your SSA estimate for the claiming age you want to look at. For someone whose Full Retirement Age (FRA) is 67, claiming at 62 pays 70% of the full benefit and claiming at 70 pays 124% (SSA). To compare claiming ages, enter the benefit for another age and see how the household paycheck changes. Enter the Social Security benefit shown by SSA for the claiming age you're testing. If SSA shows no benefit from covered work, enter zero. A pension from non-covered employment (e.g., CalSTRS teaching wages) no longer triggers WEP/GPO for benefits payable January 2024 and later — it does not by itself mean your Social Security entry should be zero.
Step 2 — Add your accounts. Enter your retirement and investment account balances in your plan's Assets section. The tool adds them together and applies a fixed 4% starting-point rate to estimate monthly support from savings. It does not choose which accounts to draw from, and the rate is not adjustable in this version.
Step 3 — Confirm your retirement age. The paycheck timing depends on it. The output is your before-tax monthly paycheck, a breakdown by source, a year-by-year view of when each income piece begins, and a list of anything still missing.
The tool reads the income streams and account balances already in your plan. It shows a before-tax monthly paycheck by source, a fixed 4% starting-point estimate from savings, a year-by-year view as each income stream begins, and what is still missing before you trust the number.
Open the paycheck calculator →Up to 85% of SS is federally taxable, computed via the 'provisional income' formula. For 2026, single filers: SS taxable starts at $25,000 provisional income (50% taxable) and reaches 85% at $34,000. MFJ: 50% at $32,000 and 85% at $44,000. The MFS-lived-together rule: if you file MFS and lived with your spouse at any time during the year, up to 85% of SS is taxable regardless of income — the $25k/$34k thresholds don't apply. California does NOT tax Social Security. The Retirement Paycheck tool does not estimate Social Security taxes; its paycheck is before tax.
Federally, the entire pension is taxable as ordinary income (with rare exceptions for after-tax employee contributions, which create a small basis). California taxes pension as ordinary income at the state level. If you've moved to Nevada, Texas, Florida, or other no-income-tax states, your pension generally escapes state income tax. The Retirement Paycheck tool does not estimate pension taxes; it shows pension income before tax and labels it as taxable but not estimated.
For people born in 1960 or later, Full Retirement Age (FRA) is 67. Claiming at 62 pays 70% of the full benefit (a permanent reduction); claiming at 67 pays 100%; claiming at 70 pays 124% (8% per year in delayed retirement credits). Source: SSA, ssa.gov/benefits/retirement/planner/1960.html. Delaying increases the monthly retirement benefit, while claiming earlier provides income sooner. Household cash flow, health, survivor needs, taxes and longevity can change the tradeoff. Compare the scenarios and verify your actual benefit amounts with SSA.
The classic answer is 4% of the initial portfolio, inflation-adjusted, for a 30-year retirement. This came from the Trinity Study and assumes a 60/40 stock-bond portfolio. Recent guidance has softened to 3.5–4% for longer retirements (FIRE-style 40+ years), and richer 5%+ rates if you have a hefty pension floor (the pension reduces sequence-of-returns risk on the portfolio). The Retirement Paycheck tool uses a fixed 4% starting-point rate as a labeled estimate; it is not adjustable in this version and is not a recommendation.
Most retirees enroll in Medicare Part B at 65. The standard Part B premium for 2026 is $202.90/month (CMS). If your modified AGI (from two years earlier) is above $109,000 single / $218,000 married filing jointly, you pay an Income-Related Monthly Adjustment Amount (IRMAA) on top, in five income tiers. The Retirement Paycheck tool does not model Medicare premiums or IRMAA; budget for them separately.
