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CT Hazardous Duty Retirement Formula:
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The CT Hazardous Duty Retirement Calculator estimates the annual pension for Connecticut hazardous duty employees using the enhanced multiplier formula. This calculation is specifically designed for public safety personnel and other hazardous duty positions.
The calculator uses the CT hazardous duty retirement formula:
Where:
Explanation: The formula calculates retirement benefits using a higher multiplier (2.5%) compared to standard retirement plans, reflecting the increased risk and earlier retirement eligibility for hazardous duty positions.
Details: Accurate pension calculation is essential for hazardous duty employees to plan their retirement, understand their benefits, and make informed career decisions. The enhanced multiplier provides greater retirement security for those in high-risk professions.
Tips: Enter years of service (including partial years as decimals) and final average salary in USD. The final average salary is typically based on the highest consecutive 3-5 years of earnings.
Q1: Who qualifies for CT hazardous duty retirement?
A: Typically includes police officers, firefighters, correction officers, and other public safety personnel who meet specific service requirements and job classifications.
Q2: What is the difference between standard and hazardous duty retirement?
A: Hazardous duty retirement uses a higher multiplier (2.5% vs 1.5-2% for standard) and often has earlier retirement eligibility age requirements.
Q3: How is final average salary calculated?
A: FAS is usually the average of the highest consecutive 3-5 years of salary, including regular pay but typically excluding overtime and other special payments.
Q4: Are there maximum benefit limits?
A: Yes, there are usually maximum benefit percentages (e.g., 75-80% of final average salary) and IRS limits on pension amounts.
Q5: Can years of service include partial years?
A: Yes, partial years of service are typically calculated proportionally (e.g., 6 months = 0.5 years).