Calculating Your Pension
The amount of your monthly retirement benefit will depend on the following factors:
- Your age at retirement
- Your total years of retirement service credit
- Your final average monthly compensation
- Your retirement benefit tier
- The retirement option you elected
Your retirement contributions have no effect on the calculation of your pension because VCERA is a defined benefit plan.
Calculating Your Benefit Estimate
If you are a PEPRA member, you can estimate your own retirement benefit by logging in to your VCERA Member Portal account and clicking on “Benefit Estimator.” The online system will use your current salary and service data to calculate a benefit estimate* based on the Unmodified Option, which provides the highest monthly benefit. You may also use the tables in the appendices of the Member Handbook to estimate your retirement benefit.
If you are a Legacy member, you can estimate your own retirement benefit using the Legacy Pension Calculator. To input an accurate Final Average Monthly Compensation amount in the “Compensation” field, find your Current Retirement Earnings Final amount on your paystub, multiply it by 26 (to get an annual total), and then divide the total by 12 (to get a monthly average). The retirement earnings amount is expected to be accurate as of your 7/14/2023 paycheck. You may also use the tables in the appendices of the Member Handbook to estimate your retirement benefit.
If you plan to retire within five years, please request an official benefit estimate from VCERA by completing and submitting an Estimate Request Form, available online or mailed upon request. Please obtain an official benefit estimate before making retirement decisions.