Your plan defines your retirement benefit. For example, if you are Plan J, your retirement benefit is determined by multiplying your years of service and final average salary by 2.7 percent.

–

Dear Curious Planner,

Your plan defines your retirement benefit. For example, if you are Plan J, your retirement benefit is determined by multiplying your years of service and final average salary by 2.7 percent. That means that if your final average salary is $50,000 and you have worked for an OCERS-covered employer for 20 years, your estimated annual retirement benefit would be 2.7% x 50,000 x 20, which is equal to $27,000.

You can find your plan information through your myOCERS portal (see image). Under the “Participant Account” section, you’ll see a “Contributions and Service” box indicating your plan type. 

To better understand your specific benefits, please refer to your Summary Plan Description (SPD) here: https://www.ocers.org/summary-plan-description