Average Retiree BenefitThe average retiree payout in a year is a function of the expected final salary in the year (from the Constants section), the .022 payout rate (a factor you can hard- code), and the expected years of service (from the Constants section). This amount should be increased by the expected cost of living factor and then reduced by any give-back amount; both values are from the Inputs section.

Expected Benefits PayoutThe total benefits to be paid in a year is a function of the average retiree benefit and the number of retirees in a year. Both values are from the Calculations section.

i have to fill in the cell with a function according to the information above.

Teachers PensionFund (version 1) a Search Sheet Insert Page Layout Formulas Data Review View Developer Share AutoSum Wrap Text Custom 1 u ,-, d , A, _ Merge & Center, $ , % , .0 *00 conditional Format Cell as Table Styles Insert Delete Format Sort & 1 TEACHERS PENSION FUND STA 4 S 6 Retiree Years of Service Average Increase in Teacher Salary Retiree Rate 25 0.01 0.04 0.05 82,000 25 0.01 0.04 0.05 83,648 $25,250,000 25 0.01 0.04 0.05 25 25 0.01 0.04 0.05 25 0.01 0.04 0.05 82,820 5 0.01 0.04 0.05 84,485$ 0.01 0.04 0.05 86,183$ 0.01 0.04 0.05 87.915 S 0.01 0.04 0.05 88,794$ 85,330 8 Expected Average Final Salary 9 Expected Administrative Expense 87,045 26,275,251 25,000,000 25,502,500 $25,757,525 26,015,100 $26,538,004 26,803,384 12 Cost of Uving Adjustment 13 Long Term Rate of Return 14 Productivity Factor 15 Employee Contribution Rate 16 Final Salary Give Back 17 State Contribution Factor 0.075 0.005 0.095 19 SUMMARY OF KEY RESULTS 20 NPV of Unfunded Liability 21 Ratio of Assets to Liability NP 22,000,000,000 23 24 Average Teacher Salary 25 Number of Active Teachers 26 Number of New Retirees 27 Number of Retirees 28 Total Teacher Compensation 29 Employee Contribution to Fund 30 State Contribution to Fund 31 Average Retiree Benefit 32 Expected Benefits Payout 69185 132,335 5320 106,820 72,714 $ 69,877 131,670 5293.4 112,113 73441 128,345 5160.4 138,181 74,176 127,680 5133.8 143,315 68,500 133,000 71,994$ 131,005 5266.8 117,380 130,340 5240.2 122,620 129,675 5213.6 127,834 129,010 5187 133,021 101,500 34 FUND BALANCE STATEMENT 2024 120%