Rule of 80

Rule of 80

The rule of 80 is the calculation to determine your ability to get an unreduced pension.  We first add your years of service and your age and that should equal 80 or more.   We then take your high (3 or 5) years average salary (3 or 5 is determined by the tier you are in).  Next, we multiply the years of service by the state factor of 2.3%. That will give us out final percentage or salary that will be the pension  

 Example: age 62, years of service (YOS) 35 salary average $75,000.

62 age + 35 YOS = 97 over 80, so ok

35 YOS x 2.3% = 80.50%

$75000 ave salary X 80.50% = $60375 annually or $5031 monthly gross before taxes and insurance.

We can help you determine that time that you want to retire. There are exceptions, so give a call or email and we will be glad to help.