Tiers 1 and 2

Membership Date

Hired before January 1, 2012

Hired between January 1, 2012, and June 30, 2018

Plan Type

Defined Benefit (DB)

Defined Benefit (DB)

Wage Index

As set by Internal Revenue Code

Average Monthly Salary  

determined by*

Highest 3 consecutive years within the last 10 years of credited service

Highest 5 consecutive years within the last 10 years of credited service

Normal Retirement 

(age and service)

20 years of service (25 for dispatchers); or

25 years of service & age 52.5; or

Age 62 & 10 years of service; or

Age 62 & 10 years of service

80 points (age + years credited service)

Multipliers

Age 62: 2.5% (max of 80%); or

2.5% per year of service (max of 80%)

Rule of 80 (hired prior to 8/9/01): 2.5% (max of 75%); or

Rule of 80 (hired on or after 8/9/01): 2.5% for first 20 years plus 2% (if member has <25 years); or

2.5% (if member has >25 years) per year of service >20 (max of 80%)

Calculations

Average monthly benefit x 50% = gross monthly pension

Average monthly salary x credited service x multiplier = gross monthly pension

Post-Retirement Survivor Benefits

If married for at least 2 consecutive years at the time of the retiree’s death

Deferred Annuity

At least age 62 and 10 years of credited service

Not Available

Line of Duty Death

Survivor benefits for eligible spouse or eligible children. Absent eligible spouse or children, the balance of member’s contributions, if any, are paid to named beneficiaries on file

Reverse DROP

24 years credited service;

Dispatchers: 25 years of credited service

25 years of credited service

Cancer Insurance Program

Members may elect to pay an annual premium for PSPRS Cancer Insurance Program coverage if their employer participates in the program. The program provides eligible retired officers with payments for cancer diagnoses and reimbursements for treatment-related expenses.