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Pension calculators

Four tools for the decisions that come with a public pension. Each one runs in your browser and saves nothing.

Pension estimatePick your plan and tier, then set your retirement age, years and final average salary. The chart shows how the monthly amount changes if you retire a few years earlier or later.Pension + Social SecurityAdds your Social Security benefit to your pension at every claiming age from 62 to 70, using the current benefit formula and no WEP cut.DROP or keep workingCompares a DROP lump sum and a frozen pension with the bigger pension you would get by working the same years without DROP, and finds the age where the two cross.Buy service creditTakes your plan’s price quote and shows the extra monthly pension, the years it takes to earn the price back, and what the same money would pay if invested.My retirement planPuts your pension, Social Security and 403(b) or 457(b) savings on one year-by-year chart against your spending goal, and shows how long savings last. Saved in your browser.When can I retire?Enter your birth date and service credit to find your earliest retirement date, your first full-pension date under your plan’s rules, and how the pension grows at each birthday after.

Plan-specific estimates

All plans
TXTexas TRS2.3% × years of service × average of your highest 5 salariesCACalSTRSAge factor × years of service × final compensationCACalPERSBenefit factor × years of service × final compensationNYNYSTRSPension factor × age factor × final average salaryOHSTRS Ohio2.2% × years of service × five-year final average salaryFLFlorida FRSPercentage value × years of service × average final compensationILIllinois TRS2.2% × years of service × final average salary, up to 75%

Which calculator to start with

Start with the pension estimate. It gives the monthly number that every other decision builds on. If you are within ten years of retiring, run it at two or three ages, because the gap between retiring at 60 and at 62 or 65 is often larger than people expect once early-retirement cuts and age factors are counted.

Then add Social Security. Many public workers had a job that paid into Social Security before or alongside their public career, and since the Fairness Act those benefits are paid in full on top of the pension. If your plan offers a DROP or lets you buy years, the last two calculators show whether those trades pay off at your numbers.

Every calculator uses the formula your plan publishes. Your system’s own statement and benefit estimate are the final word on your pension, so use these tools to compare choices and then confirm the one you pick with your plan.