The multiplier used in the calculation of a Benefit Annuity is determined based on the following criteria:
Retiring with 10 years or more of actual/reciprocal service:
Contributory: | 2.15% |
Non-Contributory: | 1.39% (for service through 6/30/2019) |
1.25% (for service beginning 7/1/2019) |
Retiring with less than 10 years of actual/reciprocal service:
Contributory: | 2.15% (for service through 6/30/2018) |
1.75% (for service after 7/1/2018) | |
Non-Contributory: | 1.39% (for service through 6/30/2018) |
1.00% (for service after 7/1/2018) |
Please contact us if you have questions about how multipliers are used or how to identify which multiplier would be used in the calculation of your Benefit Annuity.