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Police Officers Retirement System (PORS)

Service Retirement - General Information

Service Retirement Annuity Calculation - Class Two

If you are a Class Two PORS member, meaning your membership was effective prior to July 1, 2012, the following four-step formula is used to calculate your standard monthly annuity (Option A payment plan).

Step 1

Total your 12 highest consecutive quarters of earnable compensation and divide by 3.


The dollar amount of payment for up to 45 days of unused annual leave paid by your last employer at retirement may be included before averaging your 12 highest consecutive calendar quarters of earnable compensation. The result of Step 1 is your average final compensation (AFC).

Step 2

Multiply the result of Step 1 by 2.14 percent (.0214) for Class II service.

Step 3

Multiply the result of Step 2 by years, months, and days of creditable service.

Convert months to days and divide the total days by 360 to determine a decimal equivalent for partial years. For example, 25 years, 2 months and 10 days equals 25 years, 70 days (60 + 10). 70 ÷ 360 = .19. This amounts to 25.19 years of service.

Step 4

Divide the result of Step 3 by 12.

Example

Average final compensation (AFC) = $25,000
Creditable retirement service = 25 years
$25,000 x 2.14% (.0214) = $535
$535 x 25 = $13,375 annual retirement benefit
$13,375 ÷ 12 = $1,114.58 standard monthly benefit

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Service Retirement Annuity Calculation-Class Three

If you are a Class Three PORS member, meaning your membership was effective after July 1, 2012, the following four-step formula is used to calculate your standard monthly annuity (Option A payment plan).

Step 1

Total your 20 highest consecutive quarters of earnable compensation and divide by 5.

Step 2

Multiply the result of Step 1 by 2.14 percent (.0214) for Class II service.

Step 3

Multiply the result of Step 2 by years, months, and days of creditable service.

Convert months to days and divide the total days by 360 to determine a decimal equivalent for partial years. For example, 25 years, 2 months and 10 days equals 25 years, 70 days (60 + 10). 70 ÷ 360 = .19. This amounts to 25.19 years of service.

Step 4

Divide the result of Step 3 by 12.

Example

Average final compensation (AFC) = $38,100
Creditable retirement service = 27 years
$38,100 x 2.14% (.0214) = $815.34
$815.34 x 27 = $22,014.18 annual retirement benefit
$22,014.18 ÷ 12 = $1,834.52 standard monthly benefit

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Approximate Amount of Option A Monthly Benefit at Retirement

The information in the table below is based on the Option A payment option. Choosing Option B or Option C to provide a future benefit for beneficiaries will reduce the amount of your monthly benefit.

AFC

Years of Service

Additional Monthly Benefit for Each Additional Year
25 26 27 28 29 30
$ 15,000 $  669 $  696 $  722 $  749 $  776 $  803 $  27
20,000 892 927 963 999 1,034 1,070 36
25,000 1,115 1,159 1,204 1,248 1,293 1,338 45
30,000 1,338 1,391 1,445 1,498 1,552 1,605 54
35,000 1,560 1,623 1,685 1,748 1,810 1,873 62
40,000 1,783 1,855 1,926 1,997 2,069 2,140 71
45,000 2,006 2,087 2,167 2,247 2,327 2,408 80
50,000 2,229 2,318 2,408 2,497 2,586 2,675 89
55,000 2,452 2,550 2,648 2,746 2,844 2,943 98
60,000 2,675 2,782 2,889 2,996 3,103 3,210 107
65,000 2,898 3,014 3,130 3,246 3,362 3,478 116
70,000 3,121 3,246 3,371 3,495 3,620 3,745 125
75,000 3,344 3,478 3,611 3,745 3,879 4,013 134
80,000 3,567 3,709 3,852 3,995 4,137 4,280 143
85,000 3,790 3,941 4,093 4,244 4,396 4,548 152
90,000 4,013 4,173 4,334 4,494 4,655 4,815 161
95,000 4,235 4,405 4,574 4,744 4,913 5,083 169
100,000 4,458 4,637 4,815 4,993 5,172 5,350 178

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