What Is Your Pension Benefit Really Worth?

You belong to a small group of workers who receive a defined benefit pension, which requires no contributions from you. With a defined pension benefit, you will receive a fixed, monthly payment for the rest of your life. For an idea of how much your pension will be worth when you’re ready to retire at age 65, see the chart below.*

A member who was hired in 2000—and retires at age 65 after working for 20 years with an average final salary of $50,000 per year—could expect to receive a lifetime pension benefit of

$370,000.

(Could be higher based on life expectancy)

A member who was hired in 2000—and retires at age 65 after working for 20 years with an average final salary of $70,000 per year—could expect to receive a lifetime pension benefit of

$518,000.

(Could be higher based on life expectancy)

*Based on date of hire prior to August 1, 2009, and on an average of member’s highest wages in five consecutive years. Benefits vary based on age of retirement and survivor benefits.

Average Final Pay of $50,000/Year
Years of Service Pension Benefit
20 years $1,540/month
Average Final Pay of $70,000/Year
Years of Service Pension Benefit
20 years $2,160/month
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