How is my pension benefit calculated?

Your pension is calculated based on several criteria including your years of earned service credit and your final average salary.

• Service Credit Factor: Each year you work for a participating employer, you accrue a percentage of your salary which are summed by year to determine your total service credit factor. For example, for a member in Schedule B2 who has a 1% accrual per year and worked for 30 years, the total Service Credit Factor would be 30%.
• Final Average Salary (FAS): Depending on your schedule, ERSRI will use the average of either your highest consecutive 3 or 5 years of salary to calculate your pension benefit.
• Annual Pension Benefit Calculation: ERSRI multiplies your total Service Credit Factor by your FAS to determine your annual pension benefit amount.