Tiers 1, 2, 3, 4, and 5
The Basic Retirement Calculator is designed to be an aid in your retirement planning. By entering your own data, you can get a close approximation of what your retirement benefits will be at retirement. The calculations are only as good as the information you provide. But this gives you the ability to do “what-if” scenarios to assist you in planning your retirement. Prior to selecting your actual retirement date, you should contact StanCERA for an official estimate of your retirement benefits, including options that are not represented with this calculator.
Final Compensation Example
Sarah Smith, a general tier 5 member of age 20, is planning to work 40 years for the county. She would estimate her retirement as follows:
- She enters 60.00 as her “Age at Retirement”.
- She enters 40.00 as her “Years of Service”.
- After she estimates her highest earnings (base pay plus paid differentials) for 12 consecutive months as $53,500.00 and divides it by 12 months, she enters 4458.33 as her “Final Compensation”.
Please note: If you have multiple types of service, you should do a separate estimate for each type of service and add each estimate together. Only use the amount of service earned in each type.