Nonhazardous
The requirements for an Unreduced Benefit are:
A nonhazardous member, age 65 or older, with at least 1 - 47 months of service credit may elect to receive a benefit for life that is the actuarial equivalent to twice the member’s contributions and interest.
A nonhazardous member, age 65 or older, with at least 48 months of service credit is eligible to receive an unreduced monthly benefit for life based on the member's salary and service credit.
A nonhazardous member with 27 or more years of service credit can retire at any time with no reduction in benefits.
The requirements for a Reduced Benefit are:
A nonhazardous member with at least 25 but less than 27 years of service credit may retire at any time, prior to age 65, with a reduction in benefits.
A nonhazardous member, age 55, with at least five years of service credit may retire with a reduction in benefits.
The amount of reduction will depend upon the member's age or years of service at retirement.
Reduced Benefit Chart: Years from an Unreduced Benefit
| Year | Early Retirement Factor |
| 1 Year | 93.5% |
| 2 Years | 87% |
| 3 Years | 80.5% |
| 4 Years | 74% |
| 5 Years | 67.5% |
| 6 Years | 63% |
| 7 Years | 58.5% |
| 8 Years | 54% |
| 9 Years | 49.5% |
| 10 Years | 45% |
For example, a nonhazardous member has 25 years of service and is age 55. If the member chooses to retire, their benefit will be reduced to 87% (6.5% for each year away from 27 years of service). Hazardous |
The requirements for an Unreduced Benefit are:
A hazardous member with 20 or more years of service credit may retire with no reduction in benefits.
A hazardous member, age 55 or older, with 1 - 59 months of hazardous service credit, may elect to receive a benefit for life that is the actuarial equivalent to twice the member’s contributions and interest.
A hazardous member, age 55 or older, with at least 60 months hazardous service credit, is eligible to receive an unreduced benefit based on the member’s salary and service.
The requirements for a Reduced Benefit are:
The amount of reduction will depend upon the member's age or years of service at retirement.
Reduced Benefit Chart: Years from an Unreduced Benefit
| Year | Early Retirement Factor |
| 1 Year | 93.5% |
| 2 Years | 87% |
| 3 Years | 80.5% |
| 4 Years | 74% |
| 5 Years | 67.5% |
For example, a member has 18 years of service and is age 52. If the member chooses to retire, their benefit will be reduced to 87% (6.5% for each year away from 20 years of service). |