
Understanding Your Pension and Class of Service

Interactive Video
•
Business, Education
•
10th - 12th Grade
•
Hard

Lucas Foster
FREE Resource
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10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What determines your class of service in the Pennsylvania State Employees Retirement System?
The number of years you plan to work
Your final average salary
The date you are hired and your job type
Your age and years of service
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which classes of service apply to most employees hired before January 1st, 2011?
Classes A and AA
Classes E1 and E2
Classes A5 and A6
Classes A3 and A4
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How can you find out your class of service if you are unsure?
By contacting the HR department
By checking your annual SERS member statement
By looking at your tax return
By asking your manager
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the additional requirement for members of classes A3, A4, A5, and A6 to qualify for an unreduced pension?
They must be at least 60 years old
They must have 35 years of service and meet a combined age and service threshold
They must have 40 years of service
They must retire after the age of 65
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the formula used to calculate your yearly pension benefit?
2% times your class of service multiplier times your years of credited service times your final average salary
2% times your final average salary times your years of service
2% times your age times your years of service
2% times your years of service times your final average salary
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What happens to your pension benefit if you retire before reaching the SERS normal retirement age?
It is reduced for early retirement
It increases
It remains the same
It is doubled
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the benefit accrual rate?
The rate at which your salary increases
The rate at which your years of service are counted
The rate at which your pension grows each year
The rate at which your retirement age decreases
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