Calculating Your Pension

Overview

The amount of your monthly retirement benefit will depend on the following factors:

  1. Your age at retirement
  2. Your total years of retirement service credit
  3. Your final average monthly compensation
  4. Your retirement benefit tier
  5. 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

To estimate your own retirement benefit, log in to your VCERA Member Portal account and click 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 plan to retire within five years, you may 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.