- How is my retirement benefit calculated?
How is my retirement benefit calculated?
The benefit amount is determined by a formula. The formula includes your average annual salary from the five years when you earned the most and a multiplier based on your years of service. The multiplier for Regular members is 2% a year for the first 30 years of service and 1% a year for the next five years, up to a maximum of 65%. The multiplier for Special Service members is approximately 2.7272% a year for the first 22 years and then 1.5% for years 23 – 30, up to a maximum of 72%. A normal retirement age deduction may apply if you retire early. Review the Member Handbook for more information.