State Patrol Employees Pension Plan
Legislative Changes to the Patrol Plan
Recent legislation has been passed, resulting in important updates to the Patrol Retirement Plan. Below is a summary of the key changes members should be aware of:
Mandatory Retirement Age Change
The mandatory retirement age under this plan has increased from 60 to 65.
Deferred Retirement Option Plan (DROP) opened to Tier Two Members
Previously a Tier 1 only benefit, new legislation now allows eligible Tier 2 members to enroll in DROP. During the DROP participation period, the member's
retirement benefit payments are frozen, calculated, and deposited monthly into a DROP account while the member continues to receive regular compensation.
Please refer to the Patrol Member Handbook for more information on DROP .
Plan Overview
The 1947 Legislature created the State Patrol Retirement Plan.
- Members hired on or after July 1, 2016 fall under "Tier Two" benefits.
- Benefits are capped at 75% of final average compensation for all members.
- Members with 30 or more years of service may retire at any age.
- Members with 25 or more years of service may retire at age 50.
- Members with 10 or more years of service may retire at age 55.
- Retirement is mandatory at age 65.
- Both Tier One and Tier Two members contribute 10% of monthly compensation.
- The employer contributes 24% of the monthly compensation amount.
- Besides normal benefits, the law provides disability and survivor benefits.
- A "DROP" feature is available for Tier One and Tier Two members.
- Members are not covered by Social Security.
- As a defined benefit plan, lifetime monthly retirement benefits are based on this formula:
Average Highest Compensation (Tier one 3 years /
Tier two 5 years)
X
Creditable Service Years
X
Formula Factor Currently 3%
Recommended Reading for New and Terminating Members
Educational Videos for Members
These videos were created as an alternative to the NPERS State Patrol Plan retirement planning seminar. They are designed to provide State Patrol plan members nearing retirement with an overview of their retirement plan, the Deferred Retirement Option Plan (DROP), the Deferred Compensation Plan, and elder fraud prevention.