Each term links to the guide that explains it. To see the terms at work, start with which tier am I?, then the benefit formula or how KPERS 3 works, and try the KPERS calculator.
- 85 points
- KPERS 1 full retirement when your age plus years of service add up to 85. More →Membership Guide, p. 12, When Can You Retire?
- Annuity factor
- The number KPERS divides your KPERS 3 balance by to get a yearly benefit. More →KPERS 3 webinar, slide 19
- Base Benefit
- The KPERS 3 default, a lifetime benefit with 10 years certain. More →KPERS 3 Retirement Options, PDF p. 2, Base Benefit
- Covered position (school)
- Covered school positions are those not seasonal or temporary that require at least 630 hours a year or at least 3.5 hours a day for at least 180 days (non-school: 1,000 hours). More →2025 actuarial valuation, p. 151, Employee Membership
- Dividend (additional interest credit)
- The yearly KPERS 3 credit on top of the 4% guarantee when KPERS's 5-year average return is above 6%. More →2025 actuarial valuation, p. 153 (dividend = 75% of the five-year average net compound return above 6.0%)
- Final average salary (FAS)
- The average of your highest 3 years of salary (KPERS 1) or 5 years (KPERS 2), used in the benefit formula. More →Membership Guide, p. 13 ('Highest 3-year salary average (12 quarters)')
- Joint annuitant
- The person you name to keep receiving part of your benefit after you die under a joint-survivor option. More →Pre-Retirement Guide, p. 14, Adjusting for age difference and Example-KPERS 1 ($1,500 x .898 = $1,347
- Partial lump sum option (PLSO)
- Taking part of your benefit as cash at retirement in exchange for a lower monthly benefit. More →Pre-Retirement Guide, p. 15
- Retirement credits
- The KPERS 3 employer credits (3% to 6% of pay) added to your retirement credit account each quarter. More →KPERS 3 Retirement Benefits, PDF p. 3, How you earn retirement credit
- Statutory multiplier
- The percent of final average salary you earn for each year of service (1.75% or 1.85%). More →Membership Guide, p. 13, Calculating Your Retirement Benefit and Statutory Multiplier
- Vested
- Having the 5 years of service that guarantee a benefit even if you leave. More →Membership Guide, p. 4, Guaranteeing Your Benefit (Vesting)
Source: KPERS Membership Guide: KPERS 1 & 2, Correctional KPERS 1 & 2, Revised 2/26, pp. 12, 13, 4. Also: KPERS Pre-Retirement Planning Guide for KPERS 1 & 2 (1/25), pp. 6, 8, 9, 14, 15. Also: KPERS 1 & 2 Pre-Retirement Webinar slides, slides 10, 25. Also: KPERS Actuarial Valuation as of Dec. 31, 2025 (July 16, 2026), pp. 151, 153, 152, 154. Also: KPERS 3 Pre-Retirement Webinar slides, slides 19, 29, 13. Also: KPERS 3 Retirement Options (rev. 5/25), PDF p. 2. Also: KPERS 3 Retirement Application booklet K3-15 (6/26), p. 7. Also: KPERS Working After Retirement flier for school employers, PDF p. 1. Also: KPERS 2 Benefits at a Glance (rev. 5/25), PDF pp. 2, 1. Also: KPERS 1 & 2 Retirement Application booklet (6/26), p. 13. Also: KPERS 3 Retirement Benefits (9/25), PDF pp. 3, 1-3. Also: KPERS 3 Benefits at a Glance (rev. 1/25), PDF pp. 2, 1. Last reviewed .