Full-Time Pension Calculation
A member has a highest average salary of $64,000 and has worked full-time for 25 years.
Here is how that information works in the pension formula.
$53,480
(averaged YMPE) x 1.4% x 25 years = $18,718
+
$10,520
(salary over the averaged YMPE) x 2% x 25 years = $5,260
=
Estimated annual unreduced pension is $23,978, or $1,998.17 per month.