To be classified as a P&F member at retirement, you must have been employed continuously as a P&F member for at least five years immediately preceding your retirement. When you retire, PERS will calculate your monthly benefit using the following formula:
Police and firefighter (P&F): 1.8 percent x years of retirement credit x final average salary. Normal retirement age for P&F members is age 60, or age 53 with 25 years of retirement credit.
P&F Benefit Calculation Example (you can estimate your benefit using any number of years and any final average salary)
Final average salary: $45,000
Retirement credit: 25 years as an OPSRP member
25 (years) x 1.8 percent = 45 percent
45 percent of $3,750 (final average monthly salary) = $1,687.50
Single Life Option monthly benefit = $1,687.50 ($20,250 annual benefit)