What is the formula used to determine my monthly maximum benefit?
For employees hired on or before June 30, 2006, to determine your monthly maximum benefit use the following retirement benefit formula: FAC (by determining the average of your 36 months highest salary) + 300 (only if hired before July 1, 1986) x your years of service x 2.5%. final average compensation x years of service x 2.5% For employees hired after June 30, 2006, the retirement benefit formula is: FAC (by determining the average of your 60 months highest salary x your years of service x 2.5%.) In either case, if you choose any other retirement option than the maximum, your monthly benefit will be less than the maximum benefit.
