Annual straight-life annuity = 2% x final average salary x years of service credit, paid in 12 equal monthly installments (fractions of a cent count as a cent). Subject to the IRC § 415 limit. West Virginia TRS Tier I brochure (2023), p. 1, Final Average Salary x Years of Service x 2%; West Virginia TRS Tier II brochure (2023), p. 1; W. Va. Code §18-7A-26(c), (f); 162 CSR 4 § 5.3, p. 7
- Your yearly Straight Life benefit is 2% x your final average salary x your years of service credit, paid in 12 monthly payments.West Virginia TRS Tier I brochure (2023), p. 1; W. Va. Code §18-7A-26(c), (f)
- Example (our arithmetic, not a CPRB example): 30 years x $60,000 x 2% = $36,000 a year, or $3,000 a month.W. Va. Code §18-7A-26(c)
Your tier doesn't change the formula, only when you can start it (see Tier I or Tier II). Extra years from unused leave or bought service count in the formula too: see service credit.
What each year is worth
Every year of service adds 2% of your final average salary. On $60,000, that's $1,200 a year, or $100 a month. These are full (Straight Life) amounts, before any early-retirement reduction. What a year more is worth to you is on one more year.
| Years of service | A year | A month |
|---|---|---|
| 10 years20% of $60,000 | $12,000 | $1,000 |
| 15 years30% of $60,000 | $18,000 | $1,500 |
| 20 years40% of $60,000 | $24,000 | $2,000 |
| 25 years50% of $60,000 | $30,000 | $2,500 |
| 30 years60% of $60,000 | $36,000 | $3,000 |
| 35 years70% of $60,000 | $42,000 | $3,500 |
Our arithmetic on the formula, not a CPRB example. West Virginia TRS Tier I brochure (2023), p. 1, Final Average Salary x Years of Service x 2%; West Virginia TRS Tier II brochure (2023), p. 1; W. Va. Code §18-7A-26(c), (f); 162 CSR 4 § 5.3, p. 7
Your final average salary
- Final average salary is the average of your 5 highest fiscal-year salaries within your last 15 fiscal years of contributing service. It's usually your last 5 years.West Virginia TRS Tier I brochure (2023), p. 1; W. Va. Code §18-7A-26(c)
- Lump-sum payments for unused leave, bonuses, early-retirement incentives and severance don't count as salary.W. Va. Code §18-7A-3 ('Gross salary'); 162 CSR 8 § 5.4, p. 3
An example: the last 15 years, with a shorter contract in the final year. The 5 highest years (marked) average $56,680. The last 5 years would average only $56,400.
| Year | Salary | Counted |
|---|---|---|
| 14 years before | $41,000 | |
| 13 years before | $42,200 | |
| 12 years before | $43,500 | |
| 11 years before | $44,800 | |
| 10 years before | $46,000 | |
| 9 years before | $47,400 | |
| 8 years before | $48,800 | |
| 7 years before | $50,300 | |
| 6 years before | $51,800 | |
| 5 years before | $53,400 | yes |
| 4 years before | $55,000 | yes |
| 3 years before | $56,600 | yes |
| 2 years before | $58,300 | yes |
| 1 year before | $60,100 | yes |
| Last year | $52,000 |
5 highest of 15: our example, worked with the engine. West Virginia TRS Tier I brochure (2023), p. 1; W. Va. Code §18-7A-26(c); §18-7A-3 ('Average final salary', 'Gross salary'); §18-7A-17(b); 162 CSR 8 § 5.4, p. 3
See conflict fas-short-service.
The 5 highest years among all years.
What would settle it: CPRB confirmation.
§18-7A-26(c) defines the salary average as the highest five plan years within the last fifteen years of total service. §18-7A-3 adds that if total service is less than 15 years, the average is 'the average annual salary for the period on which contributions were made'. The brochures say only 'the 5 highest fiscal year salaries out of the last 15'. Our helper uses the 5 highest of the last 15 (or of all years if fewer).
W. Va. Code §18-7A-26(c); W. Va. Code §18-7A-3 ('Average final salary'); West Virginia TRS Tier I brochure (2023), p. 1
Next: when you can retire, or try the calculator.
Questions
What is the West Virginia TRS benefit formula?
2% × your final average salary × your years of service credit, a year, paid in 12 monthly payments. It's the same in Tier I and Tier II.
What is final average salary?
The average of your 5 highest fiscal-year salaries within your last 15 years of contributing service. For most people it's the last 5 years.
Do bonuses or leave payouts count?
No. Lump-sum payments for unused leave, bonuses, early-retirement incentives and severance pay aren't counted as salary.
Source: West Virginia TRS Tier I brochure (CPRB), September 2023, p. 1. Also: West Virginia TRS Tier II brochure (2023); W. Va. Code §§ 18-7A-3, 18-7A-17, 18-7A-26; CPRB rules 162 CSR 4, 162 CSR 8. Last reviewed .