Dan, KPERS 1, $39,216 final average salary
KPERS's example member, retiring at 65 with 26 years, then one to three years later. Same final average salary. Pre-Retirement Guide, p. 13, Scenario for All of Our Examples
| Retire | Age | Years | Monthly | Added |
|---|---|---|---|---|
| As in KPERS's example | 65 | 26 | $1,500.01 | — |
| 1 more year | 66 | 27 | $1,560.47 | +$60.46 |
| 2 more years | 67 | 28 | $1,620.93 | +$120.92 |
| 3 more years | 68 | 29 | $1,681.39 | +$181.38 |
Retiring early: each year takes off part of the cut
A KPERS 1 member born July 1, 1970 with 22 years on July 1, 2027 (an illustration, same $39,216 salary). Pre-Retirement Guide, p. 7, Retiring Early
KPERS 3
Another year adds a year of contributions and retirement credits and another year of interest. The calculator projects your own balances. See how KPERS 3 works.
Your own numbers will differ: open the calculator with Dan's example and change it to yours. The benefit formula explains the multiplier, Retiring early shows the cut at each age, and buying service credit is another way to add years.
What KPERS says
- In KPERS 1 and 2, each more year of service adds a year at the multiplier (KPERS 1: 1.85% for years from 2014; KPERS 2: 1.85%). On a $50,000 final average salary that is about $73 (KPERS 1 at 1.75%) or $77 (KPERS 2) a month for life, and it can remove an early-retirement cut.Membership Guide, p. 13, Calculating Your Retirement Benefit and Statutory Multiplier; Pre-Retirement Guide, p. 8
- In KPERS 3, another year adds a year of your 6% contributions and your employer's retirement credits, plus another year of interest on the whole balance. The annuity factor that turns the balance into a monthly benefit depends on your age when you retire.KPERS 3 Retirement Benefits, PDF p. 3, How you earn retirement credit; KPERS 3 at a Glance, PDF p. 2
Questions
How much does one more year add to a KPERS pension?
In KPERS 1 and 2, a year adds the multiplier (1.85% for KPERS 2 and KPERS 1 years from 2014) times your final average salary, every year for life. On $39,216 that's $725 a year.
Is it worth waiting if I'd retire early?
Often. Before full retirement, KPERS 1 cuts 0.6% for each month between 55 and 60, so a year closer to full retirement removes part of the cut and adds a year of service.
Source: KPERS Membership Guide: KPERS 1 & 2, Correctional KPERS 1 & 2, Revised 2/26, pp. 13, 4. Also: KPERS Pre-Retirement Planning Guide for KPERS 1 & 2 (1/25), pp. 8, 13, 7, 9. Also: KPERS 2 Benefits at a Glance (rev. 5/25), PDF p. 2. Also: KPERS Actuarial Valuation as of Dec. 31, 2025 (July 16, 2026), pp. 153, 152, 154. Also: KPERS 3 Retirement Benefits (9/25), PDF p. 3. Also: KPERS 3 Benefits at a Glance (rev. 1/25), PDF pp. 2, 1. Also: KPERS 3 Pre-Retirement Webinar slides, slides 13, 12, 17. Also: KPERS 3 Retirement Application booklet K3-15 (6/26), p. 13. Also: KPERS 3 Retirement Options (rev. 5/25), PDF p. 2. Last reviewed .