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