Calculating Your Benefit

Formula


The formula for your retirement benefit is based on the following:
  • Age at retirement
  • Amount of retirement service credit
  • Tier
  • Final Average Salary
You will receive a percent of your final average compensation for every year of service depending on your age and depending on the Government Code Section that governs your Tier.

Tier I &  II Benefits


As of March 15, 2005 for Miscellaneous Tier I and II Merced County, members and as of November 4, 2005 for Merced County Court members will receive a service retirement benefit calculated using the formula under Government Code Section 31676.17. The maximum percent you may receive is 3%, which is reached at age 60 for Miscellaneous Tier 1 and II members.

Merced County Cemetery District Members & Deferred and Deferred Inactive Reciprocity


Benefits for Miscellaneous members in the Merced County Cemetery District and those in Deferred and Deferred Inactive Reciprocity status prior to March 15, 2005 are calculated using the formula in Government Code Section 31676.11 (Tier I) and 31676.1 (Tier II).

Miscellaneous Tier III


Benefits for Miscellaneous Tier III are calculated using the formula in Government Code Section 31676.1. The maximum percent you may receive is 2.43%, which is reached at age 65 for Miscellaneous members.


Tier IV Miscellaneous Members


Tier IV Miscellaneous members will receive a service retirement benefit calculated under AB 340. The maximum percent you may receive is 2.50%, which is reached at age 67 for Miscellaneous members.

Tier I & II Safety members


As of July 1, 2005, for Safety Tier I and II members will receive a service retirement benefit calculated using the formula under Government Code Section 31664.1. The maximum percent you may receive is 3%, which is reached at age 50 for safety members.

Tier III Safety Members & Deferred and Deferred Inactive Reciprocity


Any safety member placed in deferred status prior to July 1, 2005 or any tier III member will receive a service retirement benefit calculated using the formula under Government Code Section 31664. The maximum percent is 3%, which is reached at age 55 for safety members.

Tier IV Safety Members


Tier IV Safety members will receive a service retirement benefit calculated under AB 340. The maximum percent you may receive is 2.70%, which is reached at age 57 for Miscellaneous members.