|Unless you are in a police or firefighter position, you are considered a general service member. When you retire, PERS will calculate your monthly benefit using the following formula: |
General service: 1.5 percent x years of retirement credit x final average salary. Normal retirement age for general service members is age 65, or age 58 with 30 years of retirement credit.
General Service 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: 30 years as an OPSRP member
30 (years) x 1.5 percent = 45 percent
45 percent x $3,750 (final average monthly salary) = $1,687.50
Single Life Option monthly benefit = $1,687.50 ($20,250 annual benefit)