Figuring Retirement, Should I stay or do I go?

FAC, 3 consecutive years highest compensation for MIP, Use 5 years for Basic.
Multiply FAC X .016 ( 1.6%) X Years of Service(YOS) = Annual Pension
Or: FAC x .016 x 30 = Pension Divide this number by 12 to get monthly amount.

If you do not have 30 years, but you have years plus age = 80, then use the multiplier of .0155.
FAC x .0155 x 30 = Pension

If you are Basic, use the Highest Consecutive 5 Years of your pay.

Here is an example for someone making roughly $55,000.

	Current	30 Years Now	Rule of 80
1	$54,000	$54,000	$54,000
2	$55,000	$55,000	$55,000
3	$56,000	$56,000	$56,000
FAC	$55,000	$55,000	$55,000
FAC	$55,000	$55,000	$55,000
Multiplier	0.015	0.016	0.0155
	$825	$880	$853
Years of Service	30	30	30
Annual Pension	$24,750	$26,400	$25,575
Monthly Pension	$2,063	$2,200	$2,131
FAC, 3 consecutive years highest compensation
Use 5 Years for Basic

Note: These are just approximate figures, you need to work with the Office of Retirement Systems to get accurate numbers for your data.