1. What is the CT MERS Pension Calculator?

The Connecticut Municipal Employees Retirement System (MERS) Pension Calculator estimates the annual pension benefit for municipal employees based on years of service and final average salary using the standard pension formula.

2. How Does the Calculator Work?

The calculator uses the MERS pension formula:

Where:

• \( Pension \) — Annual pension benefit (USD)
• \( YS \) — Years of service
• \( FAS \) — Final average salary (USD)
• \( 2\% \) — Pension multiplier (2% per year of service)

Explanation: The formula calculates 2% of the final average salary for each year of service, providing the annual pension amount.

3. Importance of Pension Calculation

Details: Accurate pension calculation helps municipal employees plan for retirement, understand their expected benefits, and make informed decisions about retirement timing and financial planning.

4. Using the Calculator

Tips: Enter years of service (including partial years) and final average salary in USD. Both values must be positive numbers.

5. Frequently Asked Questions (FAQ)

Q1: What is considered "final average salary" in MERS?
A: Final average salary typically represents the average of the highest consecutive years of earnings, usually the last 3-5 years of employment.

Q2: Is there a maximum years of service limit?
A: Most pension systems have maximum service limits, typically around 30-35 years for full benefits. Check specific MERS plan provisions.

Q3: Are there early retirement reductions?
A: Yes, retiring before normal retirement age may result in reduced benefits. The calculator assumes normal retirement age.

Q4: Does this include cost-of-living adjustments (COLAs)?
A: No, this calculation provides the base pension amount without any future COLAs or adjustments.

Q5: How accurate is this calculator for actual benefits?
A: This provides an estimate. Actual benefits may vary based on specific MERS tier, plan provisions, and individual circumstances.