$75,000 x $7.84/$1,000 = $588.00 (employer)
$75,000 x $7.20/$1,000 = $540.00 (employee)
Option 1 total = $1,128.00
Note: The $7.20 per $1,000 in this example is the actuarial equivalency factor for a Tier One member retiring at age 58 who chooses Option 1. A member who retires at a different age would have a different factor, so a different dollar amount per $1,000 is used. The example assumes a member account balance of $75,000.