Utah URS Retirement Calculator
Estimate your Utah Retirement Systems Public Employees pension under Tier 1 or the Tier 2 Hybrid. Enter your service and final average salary and see when you qualify and what the allowance pays.
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Two tiers, two formulas
Tier 1 Noncontributory: 2% x years of service x final average monthly salary (highest 3 years)
Tier 2 Hybrid: 1.5% x years of service x final average monthly salary (highest 5 years)
You're in Tier 1 if you started full-time URS-covered work before July 1, 2011. Later hires are in Tier 2 and pick the Hybrid or the Defined Contribution plan within a year; the Hybrid is the default. The Hybrid also gets an employer 401(k) contribution equal to 10% minus the pension contribution rate.
URS limits any salary year in the average that jumps more than 10% over the year before, plus a CPI allowance.
When you qualify
Both tiers pay an allowance at 65 with 4 years, 62 with 10, or 60 with 20. Tier 1 adds any age with 30 years, and any age with 25 years at a full actuarial reduction. Tier 2 adds any age with 35 years. There's no Rule of 85 or Rule of 90 in the Public Employees system.
Tier 1 is unreduced at 65 or with 30 years. Before that, Utah Code 49-13-402 takes 3% for each year from 60 to 65, so 62 with 20 years costs 9%. Under 60, add a full actuarial reduction that URS describes as about 7% a year.
Tier 2 is unreduced at 65 or with 35 years. Before 65 the reduction is fully actuarial. URS describes it as about 7% a year for ages 60 to 63 and about 9% a year for 64 to 65, without publishing exact factors, so the calculator shows the allowance before that reduction and tells you to confirm the number with URS.
COLA
Once you've been retired a year, the allowance rises with CPI each year, up to 4% for Tier 1 and 2.5% for Tier 2. The increase is a percentage of your original allowance, not the current one, so it doesn't compound. CPI above the cap carries forward to years when inflation is lower. A $2,000 Tier 2 allowance with 2.5% inflation every year reaches $2,500 after 10 years.
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Frequently asked questions
How is a Utah URS pension calculated?
Tier 1 Noncontributory: 2% x years of service x final average monthly salary (highest 3 years / 36). Tier 2 Hybrid: 1.5% x years x final average monthly salary (highest 5 years / 60). A Tier 2 member with 35 years and a $40,000 final average salary gets 52.5% of it, $21,000 a year.
Does Utah have a Rule of 85 or Rule of 90?
No. Utah Code has no age-plus-service rule for the Public Employees system. Tier 1 is unreduced at 65 or with 30 years at any age. Tier 2 is unreduced at 65 or with 35 years at any age.
When can I retire early, and how much is the cut?
Both tiers let you retire at 62 with 10 years or 60 with 20 years. Tier 1 also allows any age with 25 years. Tier 1 is reduced 3% for each year from 60 to 65 plus a full actuarial reduction for each year under 60, which URS puts at approximately 7% a year. Tier 2 is reduced actuarially before 65, which URS puts at approximately 7% a year for ages 60 to 63 and 9% a year for 64 to 65.
What is the URS COLA?
After a year of retirement the allowance rises with CPI, capped at 4% a year for Tier 1 and 2.5% for Tier 2. The increase is figured on the original allowance, so it does not compound. CPI above the cap is banked for later years.
Which tier am I in?
Tier 1 if you began full-time URS-covered employment before July 1, 2011. Tier 2 if you began on or after that date; you chose the Hybrid or the Defined Contribution plan within a year, and the Hybrid is the default.