GWPORS provides retirement, disability and death benefits to all persons employed as a game warden, warden supervisory personnel, or state peace officer.
In a defined benefit plan, both the amount you contribute and your future benefit is known. Your benefit will be calculated using a formula based on your salary and years of service.
SUMMARY OF GWPORS BENEFITS
Monthly Benefit Formula: 2.5% of HAC per year of service.
Highest Average Compensation (HAC):
For members hired before July 1, 2011: Highest consecutive 36 months
For members hired on or after July 1, 2011: Highest consecutive 60 months
Required age and years of service to be eligible for a benefit:
Vesting: 5 years
Guaranteed Annual Benefit Adjustment (GABA): If you were hired after July 1, 1997, or elected GABA - after you have completed 12 full months of retirement, your benefit will increase by a maximum of 3% each January, inclusive of all other adjustments to your benefit.
* HAC Capped: There is now a 110% cap on compensation considered as part of a member's highest average compensation. This applies to members of all systems who are hired on or after July 1, 2013. Also, bonuses have been removed from the definition of compensation for all retirement systems effective for bonuses paid on or after July 1, 2013.