1. What is the State of Connecticut Retirement Calculator?

The State of Connecticut Retirement Calculator estimates annual pension benefits for Connecticut state employees based on years of service and final average salary using the standard state retirement formula.

2. How Does the Calculator Work?

The calculator uses the Connecticut retirement formula:

Where:

• \( Pension \) — Annual pension benefit (USD)
• \( YS \) — Years of service
• \( FAS \) — Final average salary (USD)
• \( 1.625\% \) — Pension multiplier (0.01625)

Explanation: The formula calculates retirement benefits by multiplying the pension multiplier (1.625%) by the years of service and the final average salary.

3. Importance of Retirement Planning

Details: Accurate retirement planning helps state employees understand their future pension benefits, plan for retirement age, and make informed decisions about their career and financial future.

4. Using the Calculator

Tips: Enter years of service (typically 10-35 years) and final average salary (average of highest 3-5 years of earnings). All values must be valid positive numbers.

5. Frequently Asked Questions (FAQ)

Q1: What is the pension multiplier for Connecticut state employees?
A: The standard multiplier is 1.625% per year of service for most Connecticut state employees.

Q2: How is final average salary calculated?
A: FAS is typically the average of the highest 3-5 consecutive years of earnings during your state service.

Q3: Are there maximum benefit limits?
A: Yes, there are typically maximum service year limits and percentage caps based on your retirement plan and employment classification.

Q4: Does this include cost-of-living adjustments?
A: This calculator provides base pension estimates. COLA adjustments are typically applied separately after retirement.

Q5: Where can I get official retirement estimates?
A: Contact the Connecticut State Employees Retirement System for official, personalized retirement estimates and planning assistance.