Calculating the Present Value of Your Pension

I consider my DB as part of my fixed income allocation. But I certainly do not sweat the details down to the nearest $50K. And I clearly understand that the imputed value as a fixed income allocation is declining each year. Those allocations change based on market conditions. Could be anywhere from 50-75 percent equities depending on the market and the economy.

My focus is on the gap between guaranteed income flows and our desired retirement budget. Adjusted for future ROI, market fluctuations, inflation, potential change of asset allocations as we age, etc. All measured on an after tax basis. I am more concerned with cash flow than I am with a desire to include our DB and Government pensions to inflate our net worth.
 
Looking at the site, you can get just about any number you want - depending upon your assumptions.

My question is: Once you get a Net Worth "value" for your pension, what do you do with it? I think of NW as being a measure of how much money I can take on a yearly basis and spend. I don't need to do that with my pension. I know to the penny what it will be (it hasn't changed in 19 years, unfortunately.) So "adding" its NPV or whatever to my NW doesn't seem to make any sense but I could be missing something and YMMV.
I have been playing with asset allocation and defining risks based on that allocation, so I need a percentage and buckets to define the pension. I think I am overgeneralizing the technique. It is far easier to take the pension number and guess at inflation impact on that cash flow. Then bucket the rest of the assets to pay beyond the pension. I am overthinking it.
 
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