Estimate Your Benefits

Chart Demo

Step 1: Learn the calculation

The formula to calculate a retirement is quite simple.

Total Service Credit * Graded Multiplier * Average Monthly Compensation = Monthly Benefit

Use this simple tool to calculate a Straight Life Annuity option. This tool does not use any of your personal information. It gives you an idea of how the formula works and how the benefit changes as your age, compensation, and service credit increase. Have some fun with it!

When did you first start contributing to ASRS?
Before 7/1/2011    After 7/1/2011

Use the sliders to adjust the Estimated Benefit

Average monthly compensationAge at retirement

Note: yellow bars indicate an 'early retirement' reduction factor has been applied.

Service Credit

The more service you have accrued, the higher your retirement benefit. The ASRS credits service based on reported contributions from your ASRS-covered employers. Make sure all contributions have been reported by logging in to your secure account, and clicking 'Balances' under My Account. Service is awarded in the month in which contributions are reported to us, not necessarily in the month you worked.

Graded Multiplier

As you accrue more service, you qualify for a higher multiplier of your final average monthly compensation, which increases your benefit.

Average Monthly Compensation

The ASRS calculates your eligible compensation based contributions paid into your account, which are a percentage of your regular salary each pay period.

The method used to calculate your average monthly compensation is based on when you became an ASRS member.


Retirement Central

There is so much more to retirement than the basic ASRS benefit calculator. Find out how to leave benefits to a beneficiary, how health insurance and taxes impact your take-home benefit, how you can afford to retire and so much more in our dedicated section called 'Retirement Central'.

Retirement Central

Step 2: Log in to get YOUR estimate

Log in to see your personalized estimate, including your latest projected retirement date and other retirement options such as term certain and survivor annuities, partial lump sum and health insurance premium benefits. When logged in, you can also view personalized benefit estimates for refund, long term disability, service purchase and survivor benefits.

Once logged in, click 'Retirement' under 'Your Benefit Estimates' to check and customize your own personalized estimate.

myASRS Login

Wage Replacement Rates

The longer you work and accrue service credit, the closer your retirement benefit is to your final monthly salary. Multiplying your Years of Service by the appropriate multiplier will provide you with the percentage of your average monthly compensation that will be paid as a monthly retirement benefit.

As the table demonstrates, even if you spend a full career in public service, your retirement benefit will only be a fraction of the wages you received while working. In fact, the ASRS was designed to be only one of three savings methods used by public employees to save for retirement, with social security and personal savings being the other two forms of retirement savings.

PLEASE NOTE: This table assumes you are retiring under normal retirement criteria. If you retire early, an early retirement reduction factor will lower your monthly benefit.

Frequently Asked Questions

When can I retire?

Any member can retire at 65 years old, but you can retire with a reduced benefit as early as 50 years old as long as you have 5 years of service credits. Any retirement prior to "normal retirement" - determined by your membership date - has a reduction factor applied to ensure that total benefits paid over your lifetime do not exceed those paid if you had waited until normal retirement.

Retirement Eligibility

Once you have reviewed the requirements for Retirement Eligibility, Log In to your account to view and customize your own personalized estimate.

Should I refund now, or should I wait to retire?

Once you log in, you can see customized estimates of both your refund benefit and your retirement benefit. Review each number carefully, and read the explanations and disclaimers attached to each. Generally, a lifetime benefit is worth more money over time than a one-time lump sum benefit, but each decision is up to you. If you want to talk to someone about your options, feel free to Contact Us

Is there a maximum compensation level that is applicable to my ASRS retirement account?

The IRC (Internal Revenue Code) section 401(a)17, which is the amount beyond which no further retirement contributions may be deducted from an employee’s earnable salary for a given year. This limit applies to all ASRS members, regardless of their retirement plan enrollment but the actual maximum differs depending on the member’s enrollment date.

For this reason, these accounts are considered complex and only allow the ASRS to provide a very rough estimate of benefits. This limitation indicates that the ASRS cannot continue to receive contributions when the salary meets a certain amount each fiscal year.

The compensation limitations for fiscal year 2022, are $450,000 (Membership date before 07/01/1996) and $305,000 (Membership date Beginning 07/01/1996). This limitation is determined by the IRS and does not impact the service credit with the ASRS; however, it does mean that the ASRS must manually calculate the salary based on data confirmed by the employer. This process is completed through retirement processing. However, to complete a benefit estimate prior to retirement, the ASRS is only able to provide an estimation of the salary. It is important that ASRS establish with the members that this will be a rough approximation of the retirement benefit and it is not an income commitment. For a listing of current and historical maximum annual compensation IRS limits.

Can I buy more service credits?

The ASRS does provide active members with an opportunity to increase their benefit by purchasing certain types of governmental service, including previously forfeited ASRS service. To learn more about the types of service that can be purchased, the cost to purchase, and the methods of payment accepted, please visit our Service Purchase page.

Supplement Your Retirement

I want to retire soon. Where do I start?

There is so much to learn about the retirement process. Check out our dedicated section called 'Retirement Central', which covers everything from your retirement options, health insurance costs, taxes, and other forms of income after retirement.

Retirement Central

What happened to the old estimator?

We still have that estimator! After logging in and viewing the 'My Benefit Estimates -> Retirement' link, you can hit the 'customize' button to see all the various retirement options and tabs for customizing the benefit estimate to meet your needs. However, to ensure you are starting with solid data (service years and monthly compensation, as known by ASRS), we require you to access this function after logging in. Retirement is an incredibly important decision, one that should be made with the best possible information at the start.
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