West Virginia PERS Retirement Calculator
Estimate your West Virginia Public Employees Retirement System pension. Choose Tier I or Tier II, enter your service and final average salary, and see your monthly benefit, when it's unreduced, and what happens if you leave early.
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The formula: 2% per year
The rules here come from the West Virginia Code (sections 5-10-21, 5-10-21a and 5-10-22) and the Consolidated Public Retirement Board's PERS and PERS Tier II brochures.
Annual Straight Life Benefit = 2% x Years of Service x Final Average Salary
There's no percentage cap in the statute beyond the federal IRC 415 limit, so 40 years earns 80% and 42 years earns 84%. Lump-sum payments don't count toward FAS.
Tier I and Tier II
PERS is open to new hires. Anyone who first became a member on or after July 1, 2015 is in Tier II.
- Tier I (first member before July 1, 2015): FAS is the highest 36 consecutive months within the last 15 years. You contribute 4.5%. Vesting takes 5 years.
- Tier II (on or after July 1, 2015): FAS is the highest 60 consecutive months within the last 15 years. You contribute 6%. Vesting takes 10 years of contributing service.
When you can retire
Tier I, while still employed:
- Full benefit at 60 with 5 years
- Full benefit from 55 once age plus contributing service equals 80 (the Rule of 80)
- Reduced benefit at 55 with 10 years
- Reduced benefit before 55 with 30 years
Tier II, while still employed:
- Full benefit at 62 with 10 years
- Reduced benefit from 60 with 10 years, from 57 with 20, or from 55 with 30
There's no rule that pays a full benefit at any age after a set number of years. Thirty years before 55 in Tier I, or before 62 in Tier II, still means a reduction.
How the early reduction works
The statute doesn't set a percentage per year. A reduced benefit is the actuarial equivalent of the full benefit you'd have received at 60 (Tier I with 30 years) or 62 (Tier II), using the board's mortality and interest tables. So the calculator shows your unreduced amount and the age you'd reach it, and leaves the reduced figure to CPRB. Ask CPRB for an estimate six to twelve months before you plan to retire, as the brochure recommends.
Leaving before retirement
A vested member who leaves and keeps their contributions in PERS gets a deferred benefit. Tier I: the full benefit at 62, or from 55 once age plus service reaches 80. Tier II: at 64, or 63 with 20 years.
No COLA
PERS benefits don't adjust for inflation. Any increase for retirees takes an act of the Legislature, and W. Va. Code 5-10-22h limits a retiree increase to 1% of the plan's accrued actuarial liability. A $2,400 monthly check is still $2,400 twenty years later.
Unused leave
Unused sick and annual leave can add service credit at one month for every 10 days. It raises the benefit but can't be used to meet retirement eligibility. PEIA members can apply it toward retiree health coverage instead.
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Frequently asked questions
How is a West Virginia PERS pension calculated?
2% x final average salary x years of credited service, paid as a straight life annuity. Tier I uses your highest 36 consecutive months within your last 15 years; Tier II uses your highest 60. There's no cap on the percentage of FAS. With 30 years and a $48,000 FAS, that's 60%, $28,800 a year.
What is the difference between Tier I and Tier II?
Tier I covers members who first joined before July 1, 2015: 4.5% contributions, 5-year vesting, full benefit at 60 with 5 years or from 55 under the Rule of 80. Tier II covers members who joined on or after July 1, 2015: 6% contributions, 10-year vesting, full benefit at 62 with 10 years. PERS is open, and new hires join Tier II.
Can I retire early from WV PERS?
Yes. Tier I members can retire at 55 with 10 years, or before 55 with 30 years. Tier II members can retire from 60 with 10 years, 57 with 20, or 55 with 30. The benefit is the actuarial equivalent of what you'd have received at 60 (Tier I, 30-year rule) or 62 (Tier II). CPRB calculates it from its actuarial tables, so ask for an estimate.
Does WV PERS have a COLA?
No. PERS has no automatic cost-of-living adjustment. Any increase for retirees takes legislation, and state law caps one at 1% of the plan's accrued actuarial liability.
What happens if I leave before I can retire?
If you're vested and leave your contributions in, Tier I members can start the full benefit at 62, or at 55 or later once age plus service reaches 80. Tier II members can start at 64, or 63 with 20 years.