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Pension Plan |
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CERF Pension Plan
Flat Dollar Formula
The Flat-Dollar method is the simplest of the three formulas. It
uses a flat-dollar amount of $29 and your creditable years of
service.
$29 x Years of Creditable Service (up to 29) x 12 (months) = Annual
Benefit
To illustrate how your benefit is calculated, assume you are a
non-LAGERS participant with 27 years of service. Under the
Flat-Dollar formula, your benefit is calculated as follows:
$29 x 27 (Years of Creditable Service) x 12 (months) = $9,396
(Annual Benefit)
If you are a LAGERS participant, you will receive two-thirds of this
amount, or:
$9,396
x 2/3 = $6,264 (Annual Benefit)
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