Pension Calculator
Estimate your defined-benefit pension from years of service, final average salary and plan multiplier, with optional cost-of-living adjustments.
Your numbers
- Monthly pension
- $4,500
- Income replacement
- 60%
How the pension calculator works
Annual pension = years of service × multiplier × final average salary. With COLA each year’s payment grows by the adjustment rate.
Example
Using the default inputs (Years of service: 30; Multiplier per year: 2%; Final average salary: $90,000; Annual COLA: 2%), the calculator returns annual pension of $54,000. Change any field above to see your own result and charts update instantly.
Good for these goals
Frequently asked questions
What is a typical multiplier?
Many public plans use 1.5%–2.5% per year of service; private pensions vary.
Should I take a lump sum?
Compare the lump sum with the present value of lifetime payments and consider inflation and longevity.
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Estimates are for educational purposes only and are not financial, tax or legal advice. Results depend on your inputs and simplified assumptions; tax figures reflect 2026 federal rules and may differ from your situation. See our disclaimer. © 2026 FinanzCalc.