Benefit Rate Chart
Percentage of Average Annual Rate of Regular Compensation
The maximum benefit is 80% of the highest three years average rate of regular compensation. Your age factor times the number of years of service determines this percentage.
For example, if a group 4 member retires at age 54 with 25 years of creditable service, the calculation would be: 2.4% x 25 = 60% of the three year average rate of compensation.
| Retirement Age | Group 1 | Group 2 | Group 4 |
|---|---|---|---|
| 65 or over | 2.5 | 2.5 | 2.5 |
| 64 | 2.4 | 2.5 | 2.5 |
| 63 | 2.3 | 2.5 | 2.5 |
| 62 | 2.2 | 2.5 | 2.5 |
| 61 | 2.1 | 2.5 | 2.5 |
| 60 | 2.0 | 2.5 | 2.5 |
| 59 | 1.9 | 2.4 | 2.5 |
| 58 | 1.8 | 2.3 | 2.5 |
| 57 | 1.7 | 2.2 | 2.5 |
| 56 | 1.6 | 2.1 | 2.5 |
| 55 | 1.5 | 2.0 | 2.5 |
| 54 | 1.4 | 1.4 | 2.4 |
| 53 | 1.3 | 1.3 | 2.3 |
| 52 | 1.2 | 1.2 | 2.2 |
| 51 | 1.1 | 1.1 | 2.1 |