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Retirement Calculator

Calculate Your Retirement Benefits

This calculator was derived from formulas included as Appendices C, D and E in Member Handbook: Arizona State Retirement System Plan Description - 1996. The calculations generated below are only an approximation of possible retirement benefits.

INSTRUCTIONS: Enter figures in same format as shown in examples. Do not enter fractions, decimals, or non-numeric characters. Click "Calculate" button for answer. If you make changes after calculating, each section has to be re-calculated.

Average Monthly Compensation Formula

36-Month Calculation - All Members.
Note: For members before January 1, 1984, an alternate 60-month calculation can be used.
  Example   Your Data
Current Annual Salaries - Enter your highest three consecutive annual salaries within the last 10 years $ 23000     $
  + $ 24000     + $
  + $ 25000     + $
Divide the three year total by 36 months = $ 72000     = $
Average Monthly Compensation = $ 2000     = $
 
   
 
 

Normal Retirement Benefit Formula
Normal Retirement is the earliest you may retire with a full benefit as calculated by the ASRS benefit formula.
Formula: (Years of Service) x (Avg. Monthly Compensation) x (Applicable Multiplier) = retirement benefit
 
  Example   Your Data
Total Credited Service - Enter the total number of years that you will have when you retire. Do not enter fractions or decimals. 20    
 
Multiplier Factor- Effective May 9, 2001 a graded multiplier was put into effect that increased incrementally for members retiring with over 20 years of service. This multiplier will be automatically calculated for you based on your entry in the 'Total Credited Service' field. × (20 × 2.15%)   × (Years × Multiplier)
 
Multiply your average monthly compensation by the above multiplier factor × $ 2000     × $
Normal Retirement Benefit =  $ 860      = $
 
   
 
 

Early Retirement Benefit Formula
If you are at least 50 with five or more years of credited service, you may retire before your normal retirement date. However, a reduction (Percentage of Retirement Benefit) is applied to your benefit depending upon your age and your credited service. A chart is available to determine what percent of the full retirement benefit you will receive if you retire early, or the calculation below will include that percent for you to determine your early retirement benefit.
 
  Example   Your Data
Your Age 50    
Normal Retirement Benefit = $ 860     = $
Percentage of Retirement Benefit × 50% (.50)    ×
Early Retirement Benefit = $ 430     = $
 
   
October 1, 2004 .



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University of Arizona | University Services Building, 888 N. Euclid Avenue, Room 114, Tucson, AZ 85721-0158
520.621.3662 (phone) | 520.621.9098 (fax) | Page last updated June 12, 2007

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