Retirement Worksheet

1. Compute Total Final Compensation Salary

Bi-Weekly Salary
No. of Pay Periods (26 Tier 1 or 78 Tier 2,3,4) Total
$ X $ $
$ X $ $
$ X $ $
$ X $ $
$ X $ $
$ X $ $
$ X $ $
$ X $ $


Total Final Comp Salary

1. Compute Monthly Salary.
    Total Final Compensation Salary $ ________________
    Divide by 12 if Tier 1 or 36 if Tier ll, III, IV $ ________________
    Total Monthly Average Salary $ ________________

2. Compute Monthly Allowance Before Social Security Reduction.
    Total Monthly Average Salary $ ________________
    Multiply by Factor (from Charts and Tables Section)
    (Tier IV Miscellaneous Members insert 2.5% X Years of Service,
    Tier IV Safety Members insert 2.7% X Years of Service)
    X ________________
    Monthly Allowance (Before Social Security Reduction) $ ________________

         If you are not interested in the Social Security Option stop here.

 
  3. Compute Social Security Reduction Amount.
    Reduction Factor (from charts and tables section) $ ________________
    Multiply by Years of Service Credit X ________________
    Total Social Security Reduction Amount $ ________________

4. Compute Monthly Allowance After Social Security Reduction.
Monthly Allowance (Before Social Security Reduction) $ ________________
Subtract Total Social Security Reduction Amount - ________________
Estimated Monthly Retirement Benefit $ ________________