The URS Newsroom: For Policymakers, Media, and the Public

Comparison of Benefits

Tier 1 & Tier 2

Retirement benefit is defined by a formula based on a multiplier, service with an employer, and a final average salary. Monthly benefit is payable for the duration of the retiree’s lifetime.

Benefit Feature Tier 1
Public Employees
Tier 2 Hybrid
Public Employees
Benefit Multiplier 2.00% 1.50%
Final Average Salary Highest 3 Years Highest 5 Years
Retirement Eligibility Age 65 & 4 Years of Service; or 30 Years of Service Age 65 & 4 Years of Service; or 35 Years of Service
Annual COLA Limit 4.00% 2.50%

2.0% x 30 years x $5,000 final average monthly salary equals
$3,000 monthly retirement benefit