How Much Will I Get?

There are a number of factors that contribute to how much your benefit will be in retirement. Understanding these factors can help you make the right decisions.

male teacher in his 40s in a classroom with highschool students

KPERS 1 (hired before 7/1/09)

Your retirement benefit is based on the formula below, not on your contributions.

What Will My Annual Benefit Amount Be?

2 Ways to Find Out

1. Online Calculator. Login to your KPERS account. Inside, the benefit calculator uses your account data to create a quick estimate.

2. Request a Benefit Estimate. Submit a KPERS-15E form and let us do the math. This could take up to 4 weeks.

Things to Consider

The following may affect your benefit amount:

  • Your Retirement Date & Rounding Quarters
  • Add-On Pay
  • Service Purchases

Ask your employer or call KPERS InfoLine for more information.


What Are My Payment Options?

As a retired KPERS member, you will receive a monthly benefit for the rest of your life. In addition, KPERS has payment options that add financial flexibility and allow you to provide for loved ones after your death. The decision about which option to take is crucial, because once you make a choice, you cannot change it.

Maximum Monthly

  • Maximum benefit amount
  • Lifetime Benefit
  • No survivor benefit

KPERS will first establish your maximum monthly benefit amount. This will provide the basis for the rest of your options. You can choose to stay with this maximum monthly benefit amount. There is no continued benefit after your death.

Joint Survivor

  • Reduces your monthly benefit
  • Benefit continues after your death
  • Survivor can not be changed

Your survivor can receive 50%, 75% or 100% of your benefit amount. This will reduce your monthly benefit and your survivor cannot be changed once you retire. If your named survivor dies before you, your benefit increases to your original maximum monthly amount.

Life-Certain

  • Lifetime Benefit
  • Guaranteed period from retirement (5, 10, 15 years)

With a life-certain option, you'll receive a monthly benefit for the rest of your life. If you die within a guaranteed period of time from your retirement date (options are 5, 10 or 15 years), your beneficiary will receive your monthly benefit for the rest of the guaranteed period.

Another Option:

Taking a Partial Lump Sum at Retirement

You can take part of your retirement benefit in an up-front lump sum at retirement. This lump sum is then combined with one of the other retirement options to provide reduced, regular monthly payments for the rest of your life.

Read the full details of the payment option and see examples of each, Retirement Options - KPERS 1.


Add-On Pay

If your membership date is before July 1, 1993, you may be able to use 'add-on' pay when calculating your retirement benefit. Add-on pay is compensation from your employer for unused sick leave, annual leave, etc. KPERS cannot use an early retirement incentive or severance pay as part of add-on pay when calculating your final average salary.


How Is It Calculated?

Final average salary x statutory multiplier x years of service = annual benefit

Final Average Salary
This is an average of your 12 or 16 highest annualized quarters (depending on your start date). You can see your current FAS by reviewing your annual statement or logging in to your Member Account. For full details of this calculation see the Membership Guide.

Statutory Multiplier

  • Service Before 2014: 1.75%
  • Service January 2014 and after: 1.85%
  • Prior years of service (service before affiliation with KPERS): 1% or 0.75%

KPERS 2 (hired 7/1/09 to 12/31/14)

Your retirement benefit is based on the formula below, not on your contributions.

What Will My Annual Benefit Amount Be?

2 Ways to Find Out

1. Online Calculator. Login to your KPERS account. Inside, the benefit calculator uses your account data to create a quick estimate.

2. Request a Benefit Estimate. Submit a KPERS-15E form and let us do the math. This could take up to 4 weeks.

Things to Consider

The following may affect your benefit amount:

  • Your Retirement Date & Rounding Quarters
  • Add-On Pay
  • Service Purchases

Ask your employer or call KPERS InfoLine for more information.


What Are My Payment Options?

As a retired KPERS member, you will receive a monthly benefit for the rest of your life. In addition, KPERS has payment options that add financial flexibility and allow you to provide for loved ones after your death. The decision about which option to take is crucial, because once you make a choice, you cannot change it.

Maximum Monthly

  • Maximum benefit amount
  • Lifetime Benefit
  • No survivor benefit

KPERS will first establish your maximum monthly benefit amount. This will provide the basis for the rest of your options. You can choose to stay with this maximum monthly benefit amount. There is no continued benefit after your death.

Joint Survivor

  • Reduces your monthly benefit
  • Benefit continues after your death
  • Survivor cannot be changed

Your survivor can receive 50%, 75% or 100% of your benefit amount. This will reduce your monthly benefit and your survivor cannot be changed once you retire. If your named survivor dies before you, your benefit increases to your original maximum monthly amount.

Life-Certain

  • Lifetime Benefit
  • Guaranteed period from retirement (5, 10, 15 years)

With a life-certain option, you'll receive a monthly benefit for the rest of your life. If you die within a guaranteed period of time from your retirement date (options are 5, 10 or 15 years), your beneficiary will receive your monthly benefit for the rest of the guaranteed period.

Another Option:

Taking a Partial Lump Sum at Retirement

You can take part of your retirement benefit in an up-front lump sum at retirement. This lump sum is then combined with one of the other retirement options to provide reduced, regular monthly payments for the rest of your life.

Read the full details of the payment option and see examples of each, Retirement Options - KPERS 2.


How Is It Calculated?

Final average salary x statutory multiplier x years of service = annual benefit

Final Average Salary
Your final average salary is an average of your highest 5 years of salary, excluding additional compensation, such as payments for unused sick and annual leave. You can see your current FAS by reviewing your annual statement or logging in to your Member Account. For full details of this calculation see the Membership Guide.

Statutory Multiplier

  • 1.85% for participating service
  • 1% or 0.75% for prior years of service (time worked for an employer before affiliation with KPERS)

KPERS 3 (hired after 1/1/15 and after)

Your retirement benefit is based on your account balance and your retirement credits.

What Will My Annual Benefit Amount Be?

2 Ways to Find Out

1. Online Calculator. Login to your KPERS account. Inside, the benefit calculator uses your account data to create a quick estimate.

2. Request a Benefit Estimate. Submit a KPERS-15E form and let us do the math. This could take up to 4 weeks.

Things to Consider

The following may affect your benefit amount:

  • Your Retirement Date & Rounding Quarters
  • Add-On Pay
  • Service Purchases

Ask your employer or call KPERS InfoLine for more information.


What Are My Payment Options?

As a retired KPERS member, you will receive a monthly benefit for the rest of your life. In addition, KPERS has payment options that add financial flexibility and allow you to provide for loved ones after your death. The decision about which option to take is crucial, because once you make a choice, you cannot change it.

Base Benefit

  • 10-year life certain
  • Lifetime Benefit
  • 5-year or 15-year available

KPERS will first establish your maximum monthly benefit amount. This will provide the basis for the rest of your options. You can choose to stay with this maximum monthly benefit amount. There is no continued benefit after your death.

Joint Survivor

  • Reduces your monthly benefit
  • Benefit continues after your death
  • Survivor cannot be changed

Your survivor can receive 50%, 75% or 100% of your benefit amount. This will reduce your monthly benefit and your survivor cannot be changed once you retire. If your named survivor dies before you, your benefit increases to your original maximum monthly amount.

Cost-of-Living Adjustment

  • Annual COLA
  • Reduced Benefit Initially
  • 1% or 2% increase

At retirement, you can choose an annual COLA. Your benefit is reduced initially to fund the annual increase. You specify the percentage desired. Annual increases are on July 1, and begin one year after retirement. COLA options are 1% and 2%.

Another Option:

Taking a Partial Lump Sum at Retirement

You can take part of your retirement benefit in an up-front lump sum at retirement. You can choose any percent or dollar amount up to 30% of your account balance. The remaining balance is then converted to an annuity based on the monthly benefit option you select.

Read the full details of the payment option and see examples of each, Retirement Options - KPERS 3.


How Is It Calculated?

At retirement, both your contribution account balance and your retirement credits are used to calculate your lifetime monthly benefit, along with some actuarial factors.

For full details of how it works see the Retirement Benefits Flier

KP&F (All Police, Fire & EMT Members)

Your retirement benefit is based on the formula below, not on your contributions.

What Will My Annual Benefit Amount Be?

2 Ways to Find Out

1. Online Calculator. Login to your KPERS account. Inside, the benefit calculator uses your account data to create a quick estimate.

2. Request a Benefit Estimate. Submit a KPERS-15E form and let us do the math. This could take up to 4 weeks.

Things to Consider

The following may affect your benefit amount:

  • Your Retirement Date & Rounding Quarters
  • Add-On Pay
  • Service Purchases

Ask your employer or call KPERS InfoLine for more information.


What Are My Payment Options?

As a retiree, you will receive a monthly benefit for the rest of your life. In addition, KPERS has payment options that add financial flexibility and allow you to provide for loved ones after your death. The decision about which option to take is crucial, because once you make a choice, you cannot change it.

Maximum Monthly

This option is the maximum monthly benefit you can receive. There is no continued monthly benefit after your death.

Joint Survivor

You can provide a continuing monthly benefit for someone after your death. Survivor benefits are equal to 50%, 75% or 100% of your benefit and are paid for the rest of your survivor's life. To provide this continuing benefit, your monthly benefit is reduced. Your benefit decreases as your joint annuitant's benefit increases.

Life-Certain

If you die within a guaranteed period of time from retirement, your beneficiary will receive the same monthly benefit for the rest of that guaranteed period. Your monthly payments are reduced based on whether you chose the five-, ten-, or 15-year life-certain option. You can change beneficiaries at any time.

Another Option:

Taking a Partial Lump Sum at Retirement

You can take part of your retirement benefit in an up-front lump sum at retirement. This lump sum is then combined with one of the other retirement options to provide reduced, regular monthly payments for the rest of your life. You can choose a PLSO amount of 10%, 20%, 30%, 40% or 50% of the actuarial present value of your benefit. A PLSO payment is taxable income unless directly rolled over into an eligible retirement account.

Read the full details of the payment option and see examples of each, Retirement Options - KP&F.


How Is It Calculated?

Final average salary x statutory multiplier x years of service = annual benefit

Final Average Salary
Your final average salary is an average of the three highest salaries of your last five years of service and may include additional compensation depending on your start date. You can see your current FAS by reviewing your annual statement or logging in to your Member Account. For full details of this calculation see the Membership Guide.

Statutory Multiplier

  • 2.5% for participating service

Judges (All Elected & Appointed Judges)

Your retirement benefit is based on the formula below, not on your contributions.

What Will My Annual Benefit Amount Be?

2 Ways to Find Out

1. Online Calculator. Login to your KPERS account. Inside, the benefit calculator uses your account data to create a quick estimate.

2. Request a Benefit Estimate. Submit a KPERS-15E form and let us do the math. This could take up to 4 weeks.

Things to Consider

The following may affect your benefit amount:

  • Your Retirement Date & Rounding Quarters
  • Add-On Pay
  • Service Purchases

Ask your employer or call KPERS InfoLine for more information.


What Are My Payment Options?

As a retired Judge, you will receive a monthly benefit for the rest of your life. In addition, KPERS has payment options that add financial flexibility and allow you to provide for loved ones after your death. The decision about which option to take is crucial, because once you make a choice, you cannot change it.

Maximum Monthly

KPERS will first establish your maximum monthly benefit amount. This will provide the basis for the rest of your options. You can choose to stay with this maximum monthly benefit amount. There is no continued benefit after your death.

Joint Survivor

You may want to provide a continuing monthly benefit for someone after your death. Your survivor can receive 50%, 75% or 100% of your benefit amount. This option will reduce your monthly benefit amount and your survivor cannot be changed once you retire. If your named survivor dies before you, your benefit amount increases to your original maximum monthly benefit amount.

Life-Certain

With a life-certain option, you'll receive a monthly benefit for the rest of your life. If you die within a guaranteed period of time from your retirement date (options are 5, 10 or 15 years), your beneficiary will receive your monthly benefit for the rest of the guaranteed period.

Another Option:

Taking a Partial Lump Sum at Retirement

You can take part of your retirement benefit in an up-front lump sum at retirement. This lump sum is then combined with one of the other retirement options to provide reduced, regular monthly payments for the rest of your life. You can choose a PLSO amount of 10%, 20%, 30%, 40% or 50% of the actuarial present value of your benefit. A PLSO payment is taxable income unless directly rolled over into an eligible retirement account.

Read the full details of the payment option and see examples of each, Retirement Options - Judges.


How Is It Calculated?

Final average salary x statutory multiplier x years of service = annual benfit

Final Average Salary
Your final average salary is an average of any three of your last ten years of service as a Judge. You can see your current FAS by reviewing your annual statement or logging in to your Member Account. For full details of this calculation see the Membership Guide.

Statutory Multiplier

Membership date before 7/1/87
A statutory multiplier of 5% is used for up to ten years of service. Additional service over ten years is calculated at 3.5%.

Membership date on or after 7/1/87
A statutory multiplier of 3.5% is used for calculating your retirement benefit.