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We have included two charts related to the state miscellaneous and industrial retirement formula 2% at 60. The chart below shows how the benefit factor increases for each quarter year of age from 50 to 63. The chart on the next page shows the percentage of final compensation you will receive.
12 Δεκ 2022 · To see your benefit factor for each quarter year of age, choose your retirement formula below. Each PDF includes two charts. The first chart shows how the benefit factor increases for each quarter year of age. The second chart shows the percentage of final compensation you will receive.
retirement formula 2% at 62. The chart below shows how the benefit factor increases for each quarter year of age from 50 to 67. The chart on the next page shows the percentage of final compensation you will receive. 2% at 62 Retirement Formula — Minimum retirement age is 52 years*
Once you know your retirement formula, go to our Benefit Factor Charts webpage to select the chart for your formula (you can view, print, or save your PDF document). You’ll see how your benefit factor increases for each quarter year of age, and the percentage of final compensation you will receive.
Birthday quarter – For example, based on the classic 2% at 55 formula, you’re eligible to retire at age 50 with a multiplier of 1.1. That multiplier increases every three months after your birthdate; at age 63 it reaches the maximum of 2.5%.
Final Compensation (PEPRA) Will continue to be eligible for one year final compensation. PEPRA requires that a three-year final compensation period be used to calculate the average final compensation for a retirement calculation (goes by highest pensionable compensation) CalPERS New Members.
RETIREMENT FORMULAS AND BENEFIT FACTORS. The chart below shows how the benefit factor increases for each quarter year of age from 52 to 67. 2% at Age 62 Benefit Formula. Minimum Age for Retirement 52 Membership Date on or After January 1, 2013. Age.
