FAQ - Benefit Calculations

What is my retirement benefit based on?

Except for accidental disability and termination retirement benefits, your retirement benefit is based on the following factors:

  • Your age on your date of retirement: Age factors are based on your age at your last birthday (i.e. in full years, not rounded up).  If your birthday is January 1, and you are retiring on June 30, your age factor will be your age on January 1.  Your reach your maximum age factor at age 65 (i.e. age factor does not increase after age 65).
  • Your years of creditable service:  This is to total number of years of creditable service you have accrued or purchased from service with any Massachusetts Public Employer.  Creditable service is based on full-time equivalency.  Part-time service may be pro-rated.
  • The average of your highest three consecutive years' regular compensation.  We use the highest consecutive 36 month period.  Overtime, stipends, bonus', non-regular pay, vacation/sick leave buyouts are not included as regular compensation. 

Formula for superannuation (regular retirement) = Age factor times Years/Months Creditable Service = % Average Salary