Calculating Benefits
If you are vested in
the OPSRP Pension Program and you retire at normal retirement age, you
will receive an annual pension for life. The pension benefit is calculated
as follows:
- For service when you were in a General Service classification, the calculation
is 1.5 percent of your final average monthly salary multiplied by the
number of years of retirement credit attributable to General Service.
- For service as a police officer or a firefighter, your pension is 1.8
percent of your final average salary multiplied by the number of years
of retirement credit attributable to service as a police officer or firefighter.
If you are vested, you may retire when you
reach earliest retirement date age. Your
benefit will be reduced to the actuarial
equivalent of the pension that you would be paid if you retired at normal
retirement age.
Related
topics:
Age to Retire with
Full Benefits
Age to Retire
with Reduced Benefits
Final Average Salary
Survivorship Benefit Options
Vesting