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Arizona Judicial Branch

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CORP RETIREMENT CALCULATOR  
pen graphic  An estimate of retirement benefits can be obtained by using  the CORP Calculator and accessing the online Retirement Benefit Estimator.  Estimates are projections only and are based on wages and length of service the member provides. 


 

CORP CALCULATOR  (click here)

calculator graphic

This calculators allow you to enter your pertinent personal information and potential retirement dates and receive an estimate of your projected retirement benefits based on the scenario you input. 

   
 HOW RETIREMENT BENEFITS ARE CALCULATED
   
Benefit Calculation Formula
A member's retirement benefit is calculated using age, average monthly salary, and
the number of years and months of credited service.  Any lump sum payment for
vacation, sick leave, compensatory time or any other form of termination pay will be
excluded
when calculating the average monthly salary.
 
For retirement with twenty (20) years but less than twenty-five (25) years,
the monthly pension is determined by multiplying 50% of the average
monthly salary for the first 20 years, plus 2% of the average monthly salary
for each year of credited service between 20 and 25 years.  Example:
 
  • Enter the number of years of credited service                     _________ 
  • Years of credit service times (.025%)               =               _________ %
  • Add (.02%) for each year over 20
  •    21 years                                                   2%
  •    22 years                                                   2%
  •    23 years                                                   2%
  •    24 years                                                   2%
  •  
  • TOTAL  = (retirement multiplier%)                        %
  • Add TOTAL to .50 = (Retirement Multiplier)                         _________%
  • Enter average monthly salary                                          $ _________
  • Avg. monthly salary TIMES Retirement Multiplier (%) =   $ _________
                                                                              (Estimated monthly benefit)
For retirement with less than 20 years of credit service, the pension benefit is
determined by multiplying 2.5% of the average monthly salary times the member's
years of credited service.  (This method of calculation would be used for members who
are 62 years of age and have a least 10 years of credited service but less than 20 or
for a member's who's age and credited service equals 80
).
 
For retirement with twenty-five (25) or more years of credited service, the monthly
pension benefit is determined by taking the member's total amount of credited service
times the retirement multiplier (2.5%) times the average monthly salary.
 
Using the chart below, the percentage of average monthly salary, based on the years of
credited service, can be determined to estimate the monthly retirement benefit.