Computation Formula. Recognize only years of in-district service Recognize final salary as determined by KPERS Retirement Benefit Computation: The following percentages will be applicable for the following age groups: Age at retirement - age 61 .................. 1.0% per year Age 62 .................................................. .8% per year Age 63 .................................................. .6% per year Age 64 .................................................. .4% per year Formula: percentage times the years of in-district service times the final salary Maximum Annual Benefit: $ 6,000
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Sources: Negotiated Agreement, Negotiated Agreement, Negotiated Agreement