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  • Calculating Regular and Pick-up Retirement

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The formulas below outline how to arrive at the inflated percentages.

The formulas below outline how to arrive at the inflated percentages.

Code Block
STRS:  


    (1 + .14) x.14       =  .1596 -------> 15.96% on 450

    (1 + .14) x.14       =  .1596 -------> 15.96% on 691 

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Code Block
STRS:

	Employee Salary per payroll                            $1100.00 

		  Remaining Net Pay                                $1100.00 


	Board Retirement amount 15.96% paid by the board 
	from 450                                 				 175.56 

	Employee Retirement amount 15.96% paid by the board
	from 691                              				     175.56 

	      Taxable Gross                                    $1100.00 

	Gross Amount for STRS Retirement Purposes              $1254.00 **


	**Inflated gross calculated as follows:

	Gross 1100.00 x 14% (pickup percent)=154.00
	Pickup on pickup  154.00 x 14%=   21.56
   	Total of pickup percent and pickup on pickup amount 154.00+21.56=175.56
 	Inflated gross calculated 175.56/14%=1254.00	

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