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Used in the formula to calculate your retirement benefit amount, the multiplier is expressed as a percentage. As you accrue more service, you qualify for a higher multiplier of your final average salary, which increases your benefit. The longer you work in IPERS-covered employment, the larger your benefit.
Your multiplier increases with every year you work in IPERS-covered employment.
Your multiplier increases two percentage points for every year of IPERS-covered employment from one to 30 years, and one percentage point for each year of IPERS-covered employment from 31 to 35 years.
To avoid a reduction in benefits, you must meet a normal retirement age or normal retirement “rules.” You can retire and collect monthly retirement benefit when you reach one of three rules. However, you must be at least 55 years old to retire.
Collectively, the Protection Occupation and Sheriffs/Deputy Sheriffs membership groups are called Special Service members. Some benefits for Special Service members differ from benefits for Regular members because these careers are sometimes shorter due to the unique demands of the job.
Your multiplier increases with every year you work.
Your multiplier increases 2.7272 percentage points every year of service from one to 22 years, and 1.5% each year from 22 to 30 years. The maximum multiplier is 72%.
