Mississippi PERS Retirement Calculator: How to Use It
Mississippi PERS uses a 2.0% formula with a four-year FAS window. Tier determines when you can retire: Tier 1 members have more lenient thresholds than Tier 2 members who joined after July 2011. Tiers 1-4 receive a guaranteed 3% annual COLA.
What this calculator does
The Mississippi PERS Retirement Calculator computes your Public Employees Retirement System defined benefit pension using the 2.0% formula. It handles both Tier 1 (joined before July 1, 2011) and Tier 2 (joined on or after July 1, 2011), applies the correct full-retirement eligibility rules for each tier, and calculates the 4% per year early retirement reduction for members who retire at 55 before reaching normal retirement thresholds.
The calculator uses the four-year FAS window and shows your estimated annual and monthly gross pension before taxes. For Tiers 1-4, Mississippi PERS provides a guaranteed 3% annual COLA (simple before age 60, compounding after 60), so the calculator projects your benefit growth at years 5, 10, and 20.
What each input means
Member tier
Your tier is determined by your PERS enrollment date. Tier 1 is for members who joined before July 1, 2011. Tier 2 is for members who joined on or after that date. If you're unsure which tier you're in, check your PERS member statement or annual benefit summary. Tier affects your retirement eligibility thresholds but not the 2.0% accrual rate or four-year FAS window, which are the same for both tiers.
Current age
Your age today. The calculator uses this to determine whether you meet the normal retirement age requirement (60 for both tiers) or qualify for full retirement via the service-only threshold (25 years for Tier 1, 30 years for Tier 2). It also determines whether the early retirement option at 55 applies.
Years of PERS service
Your total creditable service with Mississippi PERS. This includes active service in covered positions plus any purchased service credit for prior public employment, military service, or approved leaves. Your annual PERS statement lists your credited service balance. Use the confirmed balance; pending purchases should not be included until finalized.
Final Average Salary (4-year)
PERS uses the average of your four highest years of earnable compensation in your last ten years of covered service. For most members, this is the last four years of base salary before retirement. Earnable compensation includes your regular salary but excludes lump-sum leave payouts and most one-time bonuses. Enter the figure you expect this four-year average to be at the time you retire.
Planned retirement age
The age at which you plan to start drawing your pension. The calculator checks this against your tier's eligibility rules to determine whether the benefit is full or reduced. If you're below 55 and haven't met the service threshold, the calculator will show the earliest date you'd be eligible.
Understanding the outputs
The pension formula is: 2.0% times years of creditable service times FAS. A Tier 1 member with 25 years of service and a $55,000 FAS receives 0.020 x 25 x $55,000 = $27,500 per year. A Tier 2 member with 30 years and the same FAS receives 0.020 x 30 x $55,000 = $33,000 per year.
Early retirement at age 55 applies a 4% reduction per year before normal retirement. If you're a Tier 1 member who would normally qualify at 60, retiring at 57 is three years early, and the reduction is 12%. On $27,500 that means $3,300 less per year, permanently. The reduction does not go away once you reach normal retirement age.
Mississippi PERS provides a guaranteed 3% annual COLA for Tiers 1-4. Before age 60, the increase is simple (applied to your original benefit). After age 60, it compounds. A $27,500 pension with 3% compounding grows to about $49,700 after 20 years. You can receive the COLA as monthly additions or a lump sum each December. Tier 5 members (hired on or after March 1, 2026) do not receive a guaranteed COLA.
Most PERS-covered positions are not covered by Social Security. If you have Social Security credits from other employment, add that separately when projecting total retirement income. WEP, which previously reduced Social Security for pension recipients, was repealed in January 2025.
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Frequently asked questions
What is the difference between Tier 1 and Tier 2 in Mississippi PERS?
Both tiers use the same 2.0% accrual rate and four-year FAS. The difference is eligibility. Tier 1 (joined before July 2011): full retirement at 60/4+ or any age with 25 years. Tier 2 (joined July 2011 or later): full retirement at 60/8+ or any age with 30 years.
How is the Final Average Salary calculated for Mississippi PERS?
It's the average of your four highest years of earnable compensation in your last ten years of covered service. For most members near retirement, this is effectively the last four years of base salary.
What is the early retirement reduction for Mississippi PERS?
At age 55 with sufficient service, you can retire early with a permanent 4% reduction per year before normal retirement age. Five years early means a 20% permanent reduction.
Does Mississippi PERS provide a COLA?
Yes. Tiers 1-4 receive a guaranteed 3% annual COLA. Before age 60 the increase is simple (applied to original benefit). After 60 it compounds. You can take it as monthly additions or a December lump sum. Tier 5 (hired March 1, 2026+) has no guaranteed COLA.
Does Mississippi PERS coordinate with Social Security?
Most PERS-covered positions are not covered by Social Security. If you have Social Security credits from prior private-sector work, you can collect that benefit. WEP, which previously reduced it, was repealed in January 2025.