If you’re an FRS Pension Plan member, one of the most important numbers you’ll see in your career is your pension estimate. It’s the clearest picture of what your monthly retirement income could look like based on your current service, salary, and retirement date.
Unfortunately, many members either don’t know how to request one, request it too late in their career, or misinterpret the results. That can lead to surprises — and missed opportunities to plan ahead.
Here’s how to get a pension estimate from the FRS, step by step, and what to look for when it arrives.
FRS offers different ways to calculate estimates:
Standard Estimate: Based on your current salary and years of service — good for early planning.
Customized Estimate: You provide your projected retirement date and final years of salary for a more tailored projection.
Official Retirement Estimate: For members within 12 months of retirement who need final numbers for their decision-making and paperwork.
💡 Tip: If you’re still several years from retirement, request a customized estimate every year or two to track your progress.
For most members:
Call the Division of Retirement: 1-844-377-1888 (toll-free)
Or log in to the FRS Online portal at myfrs.com to request an estimate.
Special Risk members can also request an estimate through their HR or payroll department, but it’s still best to confirm directly with the Division of Retirement for accuracy.
To speed up the process and ensure accuracy, have this information ready:
Full legal name and FRS member ID or Social Security number (last 4 digits if calling).
Your projected retirement date.
Your birth date and your beneficiary’s birth date (for survivor benefit calculations).
Projected salary for your final years (especially important for those under the High-5 or High-8 rule).
Any periods of prior service or purchased service credit.
Your FRS Pension Plan benefit is calculated as:
Average Final Compensation (AFC) × Years of Service × Percentage Value (Multiplier) = Annual Benefit
AFC = Highest 5 or 8 years of salary, depending on your hire date.
Years of Service = All creditable years, including purchased service.
Multiplier = Varies by class (e.g., 3% for Special Risk, 1.6% for Regular Class).
💡 Even small changes in AFC, service years, or multiplier can make a noticeable difference in your monthly income.
When you receive your estimate, it may include several different figures:
Normal retirement benefit: Your pension with no early retirement penalties.
Early retirement benefit: Reduced for leaving before normal retirement age/service years.
Survivor options: Monthly amounts for each payout option (e.g., Option 1, 2, 3, or 4).
Health Insurance Subsidy: A separate monthly amount you may qualify for.
DROP eligibility: If applicable, your potential DROP start date and accumulation estimate.
Once you understand your pension estimate, you can start making informed decisions:
Does your projected monthly pension cover your expected expenses?
Do you need to supplement with DROP, other retirement accounts, or personal savings?
Could working another year or two increase your benefit significantly?
Should you adjust your retirement date to align with a higher AFC period?
Your pension estimate is a snapshot in time — it will change as your salary, years of service, and retirement date change.
💡 Review your estimate every 1–2 years and again at least 6–12 months before you plan to retire.
Your FRS pension estimate is more than just a number — it’s a planning tool. The earlier you start requesting and reviewing it, the more options you’ll have to fine-tune your retirement strategy.
If you’d like help reviewing your estimate and understanding how it fits into your overall retirement income plan, we can walk you through it step-by-step to help you understand what your retirement benefits will look like.