Is there any law that requires a public defined benefit plan to provide a breakdown of how a pension has been calculated for an individual. Currently working with a client who is retiring with a defined benefit and was only given a dollar amount of what their pension would be.
Thanks.

I don't know if it is require by law, but when my husband retired under the Civil Service Retirement System he received a breakdown automatically.

This client is a retiree from a city retirement sysyem (NYC). He was briefly shown the calculation, but was told by the retirement counselor "that he is not allowed to have it."

If this is the NYCERS ask your client to ask the System for a Benefits Estimate Letter. In addition he is entitled to see the arithmetic calculation. Moreover these Systems have websites with brochures that explain in detail the DB formula. You may want to check it out!

Joel L. Frank
Pension Columnist
The Chief-Civil Service Leader
NYC
732-536-9472