Welcome to the Interactive 'What If' Retirement Benefit Estimate Calculator

With this new 'What If' calculation tool, you can create one or more estimated retirement scenarios on demand. Remember, the Estimate Calculator is just that - a tool that calculates a reasonable estimation of a future payoff. The Retirement Benefit Estimate Calculator does not account for every actuarial contingency.

**Notice: On Oct. 1, 2015, INPRS will change its annuity rate to 4.5 percent or the current market rate, whichever is greater. This rate will be in place until Dec. 31, 2016. After that time, a third party provider may begin managing annuities for INPRS, at a market rate set by the provider. Click here for more information, or call us at (888) 526-1687.

If you have any questions about these changes, or the PERF Benefit Estimate Calculator, please contact PERF or call at

For members who may choose to take their annuity in combination with their pension as a lifetime monthly payment: Your first pension and annuitization payments will be sent separately. Your first monthly payment may be lower because it will not include your monthly annuity amount. The ASA is held in a fixed interest account until the month following your retirement date. It is then paid monthly based on the higher balance.

You will not receive a retroactive payment of your monthly annuity, as your ASA earned interest for an additional month. Your monthly payment is actuarially calculated based on your age and balance at the time your payment is disbursed.

Generally, if you submit your application 90 days before your retirement date AND your employer submits to INPRS your final day worked and wage information, you can expect your first pension check one to two months following your retirement date. If you annuitize your funds, you can expect your monthly annuity payment to begin two to three months after your retirement date.

Rules and Definitions

Required Field Required Field

Please enter all fields and click "Calculate" button to estimate benefit.

Calculator Variables Projected Retirement Values
Required Field Age Year(s)      Month(s)
Required Field Average Salary
Required Field Creditable service Year(s)      Month(s)
Amount in Annuity Saving Account
Age of beneficiary

Non Spouse

Do you want SSI as an option? Call INPRS at (888) 526-1687 for information.   Yes   No

SSA amount ($) :

Option 61: You are eligible to select this option if you retire between the ages of 50 and 62 and have at least 15 years of service. PERF will pay you a larger monthly benefit up until you turn 62. At age 62, your benefit will be reduced or terminated depending on your estimated Social Security benefit. If you die before receiving benefits for five years, your beneficiary will receive either your monthly benefit for the remainder of those five years OR the present value of those remaining payments in a lump sum. If you are applying for disability benefits, you are not eligible for option 61. Please read the "Notice to Members". Review the Social Security Integration Option 61 form carefully for risks involved with option 61, especially if considering returning to work in a PERF covered position.

Click here for Rules and Definitions of option 61

Please click on the button below to generate a Benefit Estimate with your actual data.

Legal Notice

By using this retirement calculator, I acknowledge and agree that:

  • This calculator is intended to provide an UNOFFICIAL ESTIMATE of retirement benefits;

  • All retirement benefit estimates provided by PERF have not been certified and are subject to final audit to determine accuracy;

  • PERF retains no record of estimates produced by this calculator;

  • PERF has no liability or obligation to pay any amount as a result of my use of this calculator;

  • This estimate calculation is not to be construed in any way as a promise or contract with PERF to pay the amount calculated, or any other amount;

  • All final retirement benefits shall be determined by PERF in accordance with the laws in effect at the time of retirement; and

  • I have read and fully understand the above information.