RetirementCalcByState
🐻❄️ AK Pre-Filled
Alaska State Pension
Retirement Calculator 2026
Calculate your estimated Alaska Public Employees’ Retirement System retirement benefit using the official formula. Alaska’s 2026 rates are pre-loaded.
Formula: Years of Service × Final Average Salary × 2% = Annual Pension
2%
Benefit Multiplier
Top 3 yr avg
Final Avg Salary
5 yrs
Vesting Period
No SS
Social Security
🏛️ PERS Calculator
Alaska Pension Benefit Estimator
Enter your years of service and final average salary — Alaska’s 2% multiplier is already loaded.
$
Using highest 3-year average
✓ Pre-filled — Alaska 2026 rate
Annual Pension
—
Per year
Monthly Pension
—
Per month
Replacement Rate
—
% of final salary
Calculation Breakdown
Years of Service—
Final Average Salary—
Benefit Multiplier2%
Annual Pension Benefit—
Income Replacement0%
⚠️ This is an estimate based on the standard Alaska Public Employees’ Retirement System formula. Actual benefits may vary based on your specific tier, early retirement reductions, survivor benefit elections, and other factors. Contact Alaska Public Employees’ Retirement System for an official benefit estimate.
🏛️ Alaska Public Employees’ Retirement System Facts
Benefit Multiplier
2% per year
Final Avg Salary
Highest 3-year average
Retirement Rule
Age 60 with 30 years, or Age 65 with 10 years
Vesting Period
5 years
Employee Contribution
6.75% of salary
Employer Contribution
22% of salary
Social Security
No — pension replaces Social Security
COLA
Yes — automatic annual COLA
System Overview
Alaska closed its defined benefit pension plan to new hires in 2006. New employees are enrolled in a defined contribution (401k-style) plan instead.
What to Know About Alaska Retirement
- →Alaska closed its traditional pension to new employees in 2006 — new hires get a defined contribution plan, not a traditional pension.
- →Alaska public employees do not participate in Social Security — the pension is their primary retirement benefit.
- →The standard pension formula is: Years of Service × Final Average Salary × 2%. For a 30-year employee earning $65,000/year, this means $39,000/year in annual pension benefits.
Frequently Asked Questions
How is the Alaska pension calculated?
The Alaska Public Employees’ Retirement System uses this formula: Years of Service × Final Average Salary × 2%. Your “final average salary” is based on your highest 3-year average. For example, with 25 years of service and a $60,000 final average salary: 25 × $60,000 × 0.02 = $30,000 per year.
When can I retire with a full pension in Alaska?
Full retirement eligibility in Alaska: Age 60 with 30 years, or Age 65 with 10 years. You may be able to retire earlier with a reduced benefit — contact Alaska Public Employees’ Retirement System directly for your specific eligibility date based on your hire date and tier.
Does Alaska pension replace Social Security?
Alaska pension members do NOT participate in Social Security. Your Alaska Public Employees’ Retirement System pension is your primary retirement income — you will not receive Social Security benefits based on this employment.