30 · Survey Results: Survey Questions And Responses
Highest Pay Formula
2.5% x years of service x average earnings for three highest years.
2% x Years of Service x Average of 24 highest consecutive months salary.
A formula is used that takes the average of the four highest paid years in a row times a retirement factor set by the state
General Assembly times the total number of years and months of creditable service.
Age and years of service.
Average Final Compensation (AFC) is the average annual pay or salary including overtime earned by a member during
the three highest twelve-month periods of creditable service excluding any lump sum vacation pay.
Average of highest 3 salary years.
Average of highest 5 annual salaries.
Based on employees highest, continuous 36 months.
Based on years of service and the average of your ﬁve highest consecutive years of salary.
Beneﬁt is calculated using the 3 highest annual salaries (HAS) with an 8% increase limit for those hired on or after
7/1/07, a 15% increase for those hired before 12/31/06.
Final average salary is three years for grandfathered employees, ﬁve years for non-grandfathered employees.
Formula based on average annual base earnings during the 36 continuous months of highest earnings during last 10
years of employment.
Formula that takes into account the number of years of service the highest ﬁve years of salary, and the age of the retiree.
Formula uses the average of the highest three years of annual earnings to determine the beneﬁt.
Highest 5 year’s earnings.
Highest average plan compensation is the member’s average monthly salary calculated over the highest 36 continuous
months preceding retirement.
One plan takes the average of the highest 24 consecutive months; another uses the highest 60 consecutive months.
Pay is based on 3 highest years of salary, normally it’s the employee’s last 3 years.
Pension at retirement is determined by a formula which uses the highest average salary and years of credited service
while a member of the plan.
Percentage of the three best years.
Retirement beneﬁt for non-exempt university staff is based on the average of the 3 years of highest salary while
employed in a position associated with the state pension beneﬁt.
Retirement beneﬁts are based on a formula of 2% x ﬁnal average salary x years of service. For Rule of 80 members,
“ﬁnal average salary” is an average of the three highest years of contributory service. For Rule of 90 members, “ﬁnal
average salary” is an average of the highest ﬁve consecutive years of contributory service.
The ASRS calculates your beneﬁt by averaging your highest 36 consecutive months of salary in the last 10 years you