Calculating Your PERS 2 Retirement Benefits
Monthly retirement income = 2% x service credit years x average monthly final compensation
Suppose you retire at age 65 with 32 years of service credit and a monthly average final compensation of $2,000. Your retirement benefit would be $1,280 each month, calculated as follows:
2% x 32 x $2,000 = $1,280
This calculation results in the standard single life benefit. It will be different if you choose to continue benefits to a survivor upon your death.