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STATE EMPLOYEE CALCULATOR

Compute your estimated monthly benefit (if you are thinking about early retirement use the top calculator and then use the bottom calculator):

Helpful Hint:  Do not use commas in the combined highest 3 year compensation field.  For example, type 100000 instead of 100,000. 

Estimated Credited Service
Prior to January 1, 1997:

  Years Months

After December 31, 1996:

  Years Months

Enter your combined  highest 3 year compensation* - then click "Compute". $
This is your monthly Final Average Earnings $
This is your calculation factor for your years of service prior to 1/1/97 (monthly Final Average Earnings X 2.0%)
This is your calculation factor for your years of service after 12/31/96 (monthly Final Average Earnings X 1.85%)
Your credited number of years of service prior to January 1, 1997.  
Your credited number of years of service after December 31, 1996.
This is your estimated monthly benefit $

This is your estimated monthly benefit if you elect the 75% survivor option.

$

Note:  If you are experiencing problems with this calculator, please use Internet Explorer

 

* Your total creditable compensation is the total compensation paid to you during the three periods of 12 consecutive months during which your compensation was the highest.
If Early Retirement (note: you must perform above calculations first):
Enter number of months reduced -
then click "Compute"
This is your monthly reduction
(months reduced X .002)
$
This is your estimated reduced monthly benefit $

This is your estimated reduced monthly benefit if you elect the 75% survivor option.

$

If using Sick Leave Buy-in option:
Note: *You must perform "Estimated Credited Services" calculations above first

The purchase of additional pension service credit using accrued sick leave is determined using the following defaults:

  • 7.5 hours per day
  • Only your sick leave over 90 days (675 hours = 90 days) is used for the calculation
  • 21 days equals one month (157.5 hours  = 21 days  = 1 month)
  • Partial months are not used
  • Maximum of 12 months of sick leave buyin
  • Cannot be used to meet eligibility
  • Reductions in benefit still apply
  • Educational employees will receive credited service based on the contract establishing the employee's school year. For example, a ten month employee only has to purchase 10 months to receive the maximum credit.
Enter total sick time hours:
then click "Compute"
This is your Buy-in months available:
(Not to exceed 12 months)

Months
Estimated Buy-in Cost $

This is your estimated monthly benefit with the sick leave buy-in

$
This is your estimated Monthly Benefit Increase
$
     

This estimate is for illustrative purposes only.  Estimated calculations have been rounded to two digits.  It is intended to assist with long-term financial planning.   It is not a guarantee of benefits that may be available to a member at retirement.   Any reliance on information obtained through this benefits estimator must be done solely at the user's own risk. 

No decisions should be made regarding actual retirement choices based in whole or in part upon information obtained through this benefit estimator.  Before making any final retirement plans, a member should contact an Office of Pensions benefits counselor.  Nothing in this estimate is meant to extend or change in anyway the provisions expressed in the Plan.  If there is a conflict between this calculation and the Plan, the Plan controls.  All member accounts are subject to final audit.  To obtain an estimate of benefits from the Office of Pensions, call 1-302-739-4208 or toll-free at 1-800-722-7300.


Last Updated: Friday, 28-Mar-2008 10:24:49 EDT
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