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Your retirement benefit is a valuable part of your compensation package. Even if your retirement is many years into the future, understanding your retirement benefit and how it grows is important.

Graphic link to your Member Handbook -- Understanding your SERS retirement benefit starts here

Funding Your Benefit
SERS is a defined benefit plan, funded through a combination of employee and employer contributions, as well as investment earnings. The employee contribution rate is set in the Retirement Code. On an annual basis, the SERS Board establishes the employer contribution rate based on a recommendation by its actuary.

Your employer automatically deducts your contributions from your paycheck. The amount of your contributions depends upon your Class of Service. Most members contribute 6.25 percent of gross pay. The sum of your member contributions plus credited statutory interest (4 percent) is called your Accumulated Deductions.

Calculating Your Benefit
Your retirement benefit is calculated using a formula based on your Class of Service, years of Credited Service, salary and age. Your retirement benefit is NOT based on the Fund’s investment performance or on the employer contribution rate. The basic formula is: 

Image of Benefit Calculation: 2 percent times Class of Service Multiplier times Years of Credited Service times Final Average Salary equals Maximum Annual Retirement Allowance

Service Credit/Purchasing Service
Your Credited Service is one factor that determines your eligibility for and the amount of your retirement benefits. Credited service is State Service or nonstate service (such as military service) for which contributions have been made. You might be eligible to purchase prior State Service, and certain nonstate service, such as active military service and out-of-state educational service. For more information see:  Purchasing Service.

Last published: 07/28/2011 02:36 PM

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Preparing to Retire/Leave State Service

Preparing for Military Leave

SERS Disability Retirement Benefit 
Optional Membership

New Employees/Members

Service Credit

Classes of Service

Pension Forfeiture

Vested/Eligible for a Monthly Pension

SERS Death Benefit

Domestic Relations Orders

Support Orders

Appeals and Hearings Process


       Retirement Benefit Milestones