The Big Two
There are two ways to figure out your pension benefits. These depend on your start date with the City of Pittsburgh.
- Members Hired 1975 to 1987
- Members Hired 1988 and Beyond
Note: All calculations are based on the requirements of age 60 with 20 years credited service with the City. You can, however, retire at age 50 with 8 years credited service, with a reduction in your pension. To calculate this reduction, see the Penalty Box below.
You can retire with a minimum of age 50 with 8 years credited service.
To calculate the reduction for age reduce the benefit 1/2 percent for each month you are short attainment of age 60.
- For example, 6% reduction per year.
To calculate the reduction for service pro-rate the number of months' credited service over 240 months.
- For example, for 10 years credited service, the benefit would be reduced one half.
PENALTY CALCULATION FOR AGE FOR MEMBERS HIRED PRIOR TO 1975 WITH 25 YEARS SERVICE:
a. Apply the age penalty to the excess of $650.00 multiplied by 30%.
b. Add answer to $357.50.
c. Add increments.
This results in a reduced penalty for members in this category.
For any questions about calculating your pension call the Pension Office at 412-255-2655.