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Retirement Benefits

Choose a type of retirement below to learn more

 

Calculation of Retirement Benefits - For active members employed by the City and County of Denver/DHHA prior to September 1, 2004, the lifetime monthly retirement benefit calculation is 2% of the employee's average monthly salary (AMS)(based on the highest 36 consecutive months' salary that the member earns from the employer) times years of credited service. For members who were hired or re-hired on or after September 1, 2004, the retirement benefit is based on 1.5% of the average monthly salary times years of credited service. For members hired on or after July 1, 2011, the average monthly salary (AMS) is based upon the highest 60 consecutive months' salary that the member earns from the employer. The Plan's retirement benefits are payable for life. For Normal, Rule-of-75, or Rule-of-85 retirements, there is not a benefit reduction. Early Retirement benefits are reduced based upon the member's age at retirement.
 

Vesting Requirements - An employee of the City and County of Denver or DHHA with five years of credited service becomes vested, and is then qualified to receive a benefit upon reaching retirement age. This five-year vesting period must now be met by all employees in order to qualify for a benefit, regardless of age at the time of hire.

Social Security Make-Up Benefit - 

The Social Security Make-up Benefit has been discontinued for members hired on or after July 1, 2011. For members hired prior to that date, the normal retirement age under Social Security was extended beyond age 65 for individuals born in 1938 or later. In an effort to help members "make-up" for delayed Social Security benefits, the Plan will increase monthly retirement benefits to those individuals affected, if they retire after December 1995. The benefit is based on a percentage of the member's estimated primary Social Security benefit times credited service with the City/DHHA during which the contributions were made to Social Security (up to a maximum of 35 years) divided by 35. This additional benefit is payable beginning at age 62 or the member's retirement date, whichever is later, but will not be paid before retirement benefits have begun from the Plan.

 

The following examples are based on a Social Security benefit of $1,000 per month. Additionally, it is assumed the member has paid into Social Security for 20 years.

Example:

You were born in 1938,

the factor is 1.25%,

Your Social Security Make-up Benefit will be $7.14 per month.

 

Example:

You were born in 1954,

the factor is 7.5%,

Your Social Security Make-up Benefit will be $42.86 per month.

 

Example:

You were born in 1960,

the factor is 15.00%,

Your Social Security Make-up Benefit will be $85.71 per month.