Benefit Estimator

You can use our calculator below to calculate an estimated monthly benefit amount. Page Help
These instructions describe the basic steps in the process of calculating a benefit estimate through this website. FAQ's | Glossary

1. ELIGIBILITY

This benefit estimator is intended to assist you in projecting your future retirement benefits based on information that you will provide. A few things to consider when creating your own calculation:
Retirement Benefit Eligibility:
 
Regular Members Police/Fire Members
5 years of service credit at age 65 5 years of P/F service credit at age 65
10 years of service credit at age 60 10 years of P/F service credit at age 55
30 years of service credit at any age 20 years of P/F service credit at age 50
  25 years of P/F service credit at any age
  30 years of service credit at any age

2. TERMS

A few more things to consider when creating your own calculation:
Service Credit: Your service credit is the total number of years, months, and days of credit that you have earned in the system. You will receive 2.5% for service credit earned or purchased prior to July 1, 2001 and 2.67% for service credit earned or purchased after July 1, 2001. If you have 5 years of credited service, you may purchase up to a maximum of 5 years additional service credit.
Average Compensation: The monthly average of the highest consecutive 36 months of salary reported by your employer. This includes base pay, call back pay, shift differential and longevity, but not overtime.
Service Retirement Allowance: Your monthly benefit when you have attained the age and earned the service credit needed to establish full retirement eligibility as listed above.
Early Retirement Reduction: You may draw your monthly benefit prior to reaching your full retirement age with an early retirement reduction. Your benefit will be reduced 4% for each full year or .33% for each month you are under your retirement eligibility age.
Maximum Benefit: If you were hired on or after July 1, 1985, you may earn up to 75% of your average compensation. If you were hired prior to July 1, 1985, you may earn up to 90% of your average compensation.

3. CALCULATION FORMULA

The following formulas are used to calculate your benefit estimate:
Service Credit Earned Before July 1, 2001 x 2.5% = Service Time Factor 1
Service Credit Earned On or After July 1, 2001 x 2.67% = Service Time Factor 2
Service Time Factor 1 + Service Time Factor 2 = Total Service Time Factor x Average Compensation = Service Retirement Allowance (Your benefit when you are fully eligibile to retire based on service credit and age.)

Enter Information
Enter your anticipated retirement date: / / This is the date that you expect to retire meeting all eligibility requirements imposed by PERS.
Enter the service credit you have earned or purchased with
PERS before July 1, 2001*:
yearsService credit is the number of years, months, and days of credit that you have earned in the system. You will receive 2.5% for service credit earned or purchased prior to July 1, 2001.
Enter the service credit you think you will earn or purchase
after July 1, 2001 through your future retirement date**:
years Service credit is the number of years, months, and days of credit that you have earned in the system. You will receive 2.67% for service credit earned or purchased after July 1, 2001.
Enter your average monthly compensation: $The monthly average of the highest consecutive 36 months of salary reported by your employer. This includes base pay, call back pay, shift differential and longevity, but not overtime.


Calculation Results
Based on the above factors, your maximum gross monthly benefit (service retirement allowance) when you are fully eligibile to retire based on service credit and age is projected to be:
Maximum Gross Monthly Benefit (Option 1): $This is the maximum gross monthly benefit that is calculated based on the above factors.

If you plan to retire before meeting full retirement eligibility based on service credit and age, click the Calculate Reduced Benefit button to calculate your benefit with an early retirement reduction.

Tell Me More

* You will receive 2.5% for service credit earned or purchased prior to July 1, 2001.
** You will receive 2.67% for service credit earned or purchased after July 1, 2001.

This is only an estimate.