South Carolina SCRS Calculator: How to Use It
SCRS has one multiplier and two classes. Your class, set by whether you joined before July 1, 2012, decides your AFC window, your unreduced retirement rules and which early options you have.
What this calculator does
It multiplies 1.82% by your AFC and your projected service, then checks your class's rules. Class Two: unreduced at 28 years or 65; reduced at 60 with 5 years (5% a year under 65) or 55 with 25 years (4% a year short of 28). Class Three: unreduced at 65 or the Rule of 90; reduced at 60 with 8 years (5% a year under 65).
What each input means
Membership class
Set by your SCRS membership date. July 1, 2012 is the line.
Years of service and purchased service
Total service credit today, and how much of it you bought. The calculator adds a year of earned service for each year you keep working.
Average final compensation
Your 12 (Class Two) or 20 (Class Three) highest consecutive quarters, averaged to an annual figure. Class Two can include up to 45 days of unused annual leave paid at retirement.
Planned retirement age
The date your benefit starts. Reductions are prorated by the month.
Reading the result
A Class Two member at 62 with 20 years is 36 months from 65 and loses 15%. The same member at 57 with 26 years can use the 55-with-25 rule instead and loses 8%. The 1% COLA is capped at $500, so above a $50,000 pension it grows by less than 1%.
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Frequently asked questions
Which class am I in?
Class Two if you became an SCRS member before July 1, 2012. Class Three if you joined on or after that date.
Why does the calculator ask about purchased service?
Retirement eligibility needs 5 (Class Two) or 8 (Class Three) years of earned service. Purchased credit counts toward the benefit and the 28-year or Rule of 90 totals, but not toward that earned minimum.
Is 60 with 5 years unreduced for Class Two?
No. It's early retirement, reduced 5% a year under 65. Class Two is unreduced only at 28 years or 65.
Does the calculator include the COLA?
It shows your first yearly increase (1%, max $500), but the lifetime totals leave it out.