|
Public Employees'
Non-Contributory |
Public Employees'
Contributory |
Public Safety
Non-Contributory and Contributory |
Firefighters' | Judges'
Non-Contributory and Contributory |
Governor's and Legislative Service |
| Participants | State/Public Education
Classified School Higher Education Political Subdivisions Other governmental entities |
Same as Non-Contributory | Peace Officers,
Correctional Officers, and approved Special Function Officers |
Full-time Firefighters regularly assigned to a fire department | Judges of the Supreme, Appellate, District, Circuit, and Juvenile Courts | Governors and
Legislators |
| Total Members
Active / Retired |
116,761
81,894 / 17,755 |
13,751
3,972 / 8,292 |
10,042
6,839 / 2,371 |
2,325
1,452 / 825 |
185
104 / 75 |
388
88 / 219 |
| Eligibility for
Retirement |
age 60 20 years (AR)
age 62 10 years (AR) age 65 4 years any age 25 years (FAR or employee/employer purchase) any age 30 years |
age 60 20 years (AR)
age 62 10 years (AR) age 65 4 years any age 30 years |
age 60 10 years
age 65 4 years any age 20 years |
Same as Public Safety | age 55 20 years (FAR)
age 62 10 years age 70 6 years any age 25 years |
Legislators
age 62 10 years (AR) age 65 4 years Governors age 65 |
| Service Benefit
Formula |
2% x FAS (all years)
No maximum benefit |
2% after 7/1/75 x FAS
1.25% for years prior to 7/1/75 x FAS No maximum benefit |
2.5% x FAS x 1st 20 years
2% x FAS x years above 20 70% maximum benefit of FAS reached at 30 years |
2.5% x FAS x 1st 20 years
2% x FAS x years above 20 70% maximum benefit of FAS reached at 30 years |
5% x FAS x 1st 10 years
2.25% x FAS x 2nd 10 years 1% of FAS x remaining years
75% maximum benefit of FAS reached at 22.5 years |
Legislators - $10/month
per year of service increased semiannually up to 2% based on CPI $23.60/month, as of 7/1/2001 Governors - $500/month per term increased semiannually up to 2% based on CPI $1,060/month as of 7/1/2001 |
| Final Average
Salary
Definition |
Average of highest 3 years |
Average of highest 5 years |
Average of highest 3 years |
Average of highest 3 years |
Average of highest 2 years |
N.A. |
| Cost of Living
Adjustment |
Up to 4% annually (CPI)
(Simple) after 1 year |
Same as Non-Contributory | Up to 2.5% annually (CPI)
(Simple) after 1 year |
Up to 4% annually (CPI)
(Simple) after 1 year |
Up to 4% annually (CPI)
(Compounded) after 1 year |
Up to 4% annually (CPI)
(Simple) after 1 year |
| Employer Defined
Contribution
Benefit
% of Salary |
State/School: 1.5% 401(k)
Local government: Optional |
State/School: None
Local government: Optional |
State: None
Local government: Optional |
State: None
Local government: Optional |
None | N.A. |