Alaska PERS Retirement Calculator Help
The calculator covers Alaska PERS defined benefit Tiers I, II and III for "all other" members. Peace officers and firefighters have a different formula and earlier retirement. Here's what each input does.
Tier
Set by the date you first entered PERS. Tier I before July 1, 1986, Tier II through June 30, 1996, Tier III through June 30, 2006. Picking Tier IV shows how the Defined Contribution Retirement plan works instead of a pension estimate.
Service and pre-1986 service
Enter your PERS service. The calculator adds the years until you leave. Tier I members also enter how much was earned before July 1, 1986, because it all counts at 2% rather than stepping up to 2.25% and 2.5%.
Average salary
Your three (Tiers I-II) or five (Tier III) highest consecutive payroll years, as a yearly average. PERS works in average monthly compensation, so the calculator divides by 12.
Living in Alaska
The Alaska COLA, the greater of $50 or 10% of your base benefit, only goes to retirees domiciled and physically present in Alaska. You can be away up to 90 days in a row and keep it.
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Frequently asked questions
Is the Alaska COLA capped at $250 a month?
No. It's the greater of $50 or 10% of your base benefit, with no dollar cap.
Do Tier II and III members need 20 years to retire early?
No. Once vested with 5 years, they can retire from 55 with a 0.5% monthly reduction under 60.
Do I need to be 55 to use 30 years of service?
No. "All other" members can retire at any age after 30 years of membership service.
Does the calculator include the PRPA?
It explains it but doesn't project it, because it depends on future Anchorage CPI. The monthly figure is your starting base benefit.