PERS Retirement Calculator
Estimate your Public Employees Retirement System (PERS) pension benefit. Calculate your monthly and annual pension using your state plan's formula, years of service, benefit multiplier, and final average salary.
Personal Details
PERS Pension Details
Social Security
PERS Pension Strength
Your PERS pension is a solid foundation. Consider supplemental savings to ensure a comfortable retirement.
Monthly Benefit
$2,296
Salary Replacement
39%
Monthly Pension
$2,296
$27,552/year
Salary Replacement
39%
of $70,000 FAS
Lifetime Value
$927,701
over 26 years
Early Penalty
-18%
3 years early
Early Retirement Penalty: 18% reduction
Retiring at 62 is 3 years before your plan's normal retirement age of 65. Your benefit is reduced by 6% per year = 18% total. Waiting until 65 would give you the full unreduced benefit.
PERS Pension Over Time
Annual pension payments with COLA adjustments through retirement
Personalized Insights
Actionable recommendations based on your numbers
39% salary replacement
Your pension covers 39% of your final average salary. To reach the recommended 70-80% total replacement, consider supplemental savings such as a 457(b) plan or IRA.
18% early retirement reduction applied
Retiring at 62 is 3 years before your normal retirement age of 65. This reduces your annual benefit by $6,048. Waiting until 65 would give you the full unreduced benefit of $33,600/year.
1.5% multiplier is typical for general PERS members
Most state PERS plans use multipliers between 1.0% and 2.0% for general employees. Your 1.5% multiplier means each year of service earns you 1.5% of your final average salary. Public safety members often have higher multipliers.
2% COLA increases your benefit over time
With a 2% annual COLA, your pension grows from $27,552/year to approximately $40,941/year by year 20. This helps protect your purchasing power against inflation.
32 years of strong public service
With 32 years of service at a 1.5% multiplier, you have built a substantial pension benefit. Each additional year adds $1,050/year to your pension.
$927,701 in total lifetime pension income
Over 26 years of retirement, your PERS pension will pay approximately $927,701 in total benefits with COLA adjustments included.
Related Retirement Calculators
Explore the next planning questions readers usually compare with this calculator.