Normal (Full) Service Retirement Benefits
Normal, or full, retirement benefits are calculated using this formula:
|Benefit Factor||X||Final Average Salary||X||Years of Service||=||Lifetime Single Life Benefit|
Benefit Formula Components
- The 2.5% Benefit Factor is set by law and is permanent.
- Final Average Salary is a monthly average of your three highest consecutive years of PSRS-covered salary (including employer-paid health, dental and vision insurance premiums).
- Years of Service includes the number of years of service you have earned, reinstated and purchased.
- The Lifetime Single Life Benefit is the highest lifetime monthly benefit. It does not provide any monthly payments for your beneficiaries after your death. Learn more
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