Final Compensation Example:
Sarah Smith, a safety member of age 20, is planning to work 40 years for the county. She would estimate her retirement as follows:
- She enters 60.00 as her "Age at Retirement".
- She enters 40.00 as her "Years of Service".
- After she estimates her highest earnings (base pay plus paid differentials) for 12 consecutive months as $53,500.00 and divides it by 12 months, she enters 4458.33 as her "Final Compensation" .
After Clicking on the "Calculate My Allowance" button, Sarah Smith's "Estimated Retirement Allowance" under the new formula is: $5349.00.