Benefit multiplier

There are several factors used to determine your retirement benefit. First we consider the length of service. Then we calculate the high-five average salary, using your highest five years of salary in the last ten years of service. We take these two pieces and apply it to a "benefit multiplier" (also known as a benefit formula) to determine your retirement benefit.   

Appointed/elected as judge before July 1, 2013 (Tier 1)

Formula is 3.2% multiplied by the number of years and fractions of years of allowable service, and then multiplied by final average compensation. The maximum percentage of 76.8% coincides with the allowable service credit limit of approximately 24 years. Please contact MSRS to request a estimate of your retirement benefits.

Note: After 24 years of service, judges no longer contribute to the Judges Plan, and instead contribute to the Unclassified Retirement Plan.

Early retirement reduction
If you retire prior to full retirement age (age 65), your monthly benefit is reduced because you will collect the benefit for a longer period of time. The reduction is designed to generate the same value of retirement benefits you receive, regardless of your age at retirement. For more information, see the Judges Retirement Handbook or contact MSRS at 1-800-657-5757.

Appointed/elected as judge after June 30, 2013 (Tier 2)

Formula is 2.5% multiplied by the number of years and fractions of years of allowable service and then multiplied by the final average compensation. There is no service credit limit for judges covered by Tier 2. Please contact MSRS to request a estimate of your retirement benefits.

Early retirement reduction
If you retire prior to full retirement age (age 66), your monthly benefit is reduced because you will collect the benefit for a longer period of time. The reduction is designed to generate the same value of retirement benefits you receive, regardless of your age at retirement. For more information, see the Judges Retirement Handbook or contact MSRS at 1-800-657-5757.