1. What is the ERS Rule of 80?

The ERS (Employees Retirement System) Rule of 80 is a retirement eligibility formula used by Texas Tech that requires the sum of age and service credit to be at least 80, with a minimum of 5 years of service credit.

2. How Does the Calculator Work?

The calculator uses the ERS Rule of 80 formula:

Where:

• \( A \) — Age in years
• \( S \) — Service credit in years

Explanation: The rule requires both conditions to be met: the sum of age and service credit must be at least 80, and the service credit must be at least 5 years.

3. Importance of Eligibility Calculation

Details: Determining retirement eligibility is crucial for retirement planning and understanding when an employee qualifies for retirement benefits under the Texas Tech ERS system.

4. Using the Calculator

Tips: Enter age in whole years and service credit in years (can include decimal values). Both values must be valid (age > 0, service credit ≥ 0).

5. Frequently Asked Questions (FAQ)

Q1: What is the minimum service requirement?
A: The minimum service requirement is 5 years of service credit, regardless of age.

Q2: Can partial years of service be counted?
A: Yes, partial years of service credit can be used in the calculation (e.g., 4.5 years).

Q3: Are there any age restrictions?
A: There is no minimum age requirement, but the sum of age and service must be at least 80 with minimum 5 years service.

Q4: Does this rule apply to all Texas Tech employees?
A: This rule applies to employees covered by the ERS retirement system at Texas Tech University.

Q5: What benefits does eligibility provide?
A: Eligibility under the Rule of 80 typically qualifies employees for full retirement benefits including pension and healthcare benefits.