To use this calculator:

1. Select a Retirement Type from the choices in the left-hand column; then

2. Enter all requested Member Information (and optional Beneficiary information) in the right-hand column and click the "Calculate" button.

CHOOSE RETIREMENT TYPE (select one)

ENTER MEMBER INFORMATION

Please complete all fields.

First Name:

Last Name:

Date of Birth:
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec / /
 Mo. / DD / YYYY

Retirement Date:
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec / 1* /
 Mo. / 1 / YYYY
*All retirements begin the 1st of the month.

Service at Retirement:
yrs. mos.

Salary at Retirement:
$ .00
(no commas) Use the average salary in the last 3 years before retirement or, for Veteran Retirement after 20 years, the highest 12 months of salary. For Accidental Disability use annual salary as of the date of the accident.
DO NOT include overtime, bonuses, etc.

Choose Method of Calculation:

Calculate Maximum and Option 1 Amount Only — Proceed to "Calculate" button.

Calculate All Payment Options for a Beneficiary — If selected, enter beneficary's date of birth below.

Beneficiary's Date of Birth:
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec / /
 Mo. / DD / YYYY
Is the beneficiary your spouse? Yes    No

Early Retirement (For Membership Tier 1 only — members enrolled on or before June 30, 2007.) — Available to PERS members who establish 25 years of service before attaining age 60. The annual retirement allowance is based on the Service Retirement formula shown above. If you are under 55 years of age, this benefit is permanently reduced by 1/4 of 1 percent for each month (3 percent per year) that you are under age 55.

Deferred Retirement (For Membership Tier 1 and Tier 2 only — members enrolled on or before November 1, 2008.) — Available to PERS members who have terminated employment but who have not yet reached the Service Retirement age of 60. You must have established 10 years* or more of service credit at the time you terminated employment. The effective date of retirement is the first day of the month following your 60th birthday.

*If your service credit includes a voluntary purchase of service, to be eligible for a Deferred Retirement, PERS members must have paid off enough of the purchased service to meet a 10-year minimum.

Disability Retirement — There are two types of Disability Retirement benefit (select one).

Ordinary Disability — You must have a minimum of 10 years of NJ service credit* and be considered totally and permanently disabled. If you qualify for an Ordinary Disability Retirement, the retirement allowance is equal to 43.6 percent of your Final Average Salary or 1.64 percent of the Final Average Salary for each year of service credit, whichever is higher.

*The purchase of out-of-state, military, and U.S. government civilian service cannot be used to attain the 10 years.

Accidental Disability — You must be considered permanently and totally disabled (you must prove that you are physically or mentally incapacitated from performing your normal or assigned job duties or any other position that your employer may assign) as a “direct result of a traumatic event” that happened during and as a direct result of carrying out your regular or assigned job duties. If you qualify for an Accidental Disability Retirement benefit, you will receive 72.7 percent of your base salary at the time of the traumatic event.

For more information about Disability Retirement, see Fact Sheet #15, Disability Retirement Adobe PDF (45K)