Benefit Estimate Calculation Help Page

Currently there are three methods you can use for estimating a monthly benefit. They are distinguished by how close one is to retirement and the ability to predict all of the parameters used at time of retirement.

Each of the calculation methods requires a different amount of input. The quick method requires a small amount of input while the full method requires more.

Retirement System

• South Carolina Retirement System (SCRS)
  
  The South Carolina Retirement System (SCRS) was established July 1, 1945. It covers public school employees, public higher education personnel, state employees, city, county, and other local public employees of participating, or covered, employers. SCRS provides a complete range of benefits, including service and disability retirement, vesting rights, and survivor benefits. Employers may elect to provide group life insurance coverage for employees. Pre-retirement education seminars and other special presentations are also available at the request of the employer.
   
• Police Officers Retirement System (PORS)
  
  The South Carolina Police Officers Retirement System (PORS) was established July 1, 1962. Membership includes police officers and firefighters employed by the state, and any participating local subdivision, agency, or department of the state. Police officers, peace officers, firefighters, coroners, magistrates, and probate judges are eligible for membership in PORS under certain circumstances. These circumstances are outlined in the PORS Member Handbook. PORS provides a complete range of benefits, including service and disability retirement, vesting rights, and survivor benefits. Employers may elect to provide the Accidental Death Program and group life insurance coverage for employees. Pre-retirement education seminars and other special presentations are also available at the request of the employer.

Average Final Compensation (AFC)

Average final compensation (AFC) is the total of your highest 12 consecutive quarters of salary (Jan-Mar, Apr-Jun, Jul-Sep, Oct-Dec), divided by three. Only an amount up to and including 45 days pay for unused annual leave from your last termination payment, paid at retirement, may be included before averaging your 12 highest consecutive quarters of earnable compensation. This amount is reported by your employer after retirement.