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Below is a Tier 3 Retirement Calculator based off of the charts/calculators used in the book "The Road to NYPD Retirement" by Peter Thomann.  Formulas match the charts exactly and are in attached excel allowing you to plug in numbers and plan ahead for your retirement.  Your Tier 3 pension is based off of 50% of your Final Average Salary (FAS) at 20 years completed, plus any escalation you may receive based off of service over 22 years.  There still seems to be lots of confusion on the Tier 3 pension system and I hope this helps a bit.  There is also a box for "Retention Bonus" which is rank specific and calculated based off of the top step.  Your union should know the exact "Retention Bonus" amount currently, which applies to 2 of your Top 3 years.      

*Note - Escalation is specific to Tier 3 and is very different than COLA.  Escalation, which applies to your entire pension amount, varies by year determined by the Office of the Actuary, but your escalation "rate" is calculated by years of service.  At 22 years, you begin to gain a percentage point every month you remain employed, reaching 1% after 23 years completed, 2% after 24 years completed, and the maximum of 3% after 25 years completed.  Your escalation, which applies to your entire pension amount, is calculated each year and will be "up to" your escalation rate, determined by the NYC Office of the Actuary.  If your rate is 2.0%, but the Office of the Actuary sets the escalation rate at 1.7% that year, you will receive 1.7% on your entire pension.  On the other hand, if they set the rate at 2.8% that year, you will receive 2.0%.  The average escalation over the last 30 years is 2.21%.  Calculator will also factor in Social Security Offset, which is estimated to be a $15,000 reduction in your annual pension, taking effect at age 62.  See calculator below allowing you to plug in numbers as well as link below explaining NYC Tier 3 Pension.      

Tier-3-SPD-20260630.pdf