Calculating Benefits

Normal (Full) Service Retirement Benefits

Normal, or full, retirement benefits are calculated using this formula:

Benefit FactorXFinal Average SalaryXYears 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

You might also be interested in ...