Nonhazardous
The requirements for an Unreduced Benefit are:
A nonhazardous member, age 57 or older, may retire with no reduction in benefits if the member's age and years of service equal 87 (Rule of 87).
A nonhazardous member, age 65, with at least 60 months of service credit may retire at any time with no reduction in benefits.
The requirements for a Reduced Benefit are:
- A nonhazardous member, age 60 or older, with at least 120 months of service credit may retire with a reduction in benefits.
If a member is eligible for a reduced benefit, 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
| Years | 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 10 years of service and is age 60. If the member chooses to retire, their benefit will be reduced to 67.5% (6.5% for each year away from age 65).
Hazardous
The requirements for an Unreduced Benefit are:
- A hazardous member with 25 or more years of service may retire at any time with no reduction in benefits.
- A hazardous member, age 60 or older, with at least 60 months of service credit may retire at any time with no reduction in benefits.
The requirements for a Reduced Benefit are:
- A hazardous member, age 50 or older, with at least 180 months of service credit may retire with a reduction in benefits.
If a member is eligible for a reduced benefit, 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
| Years | 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 hazardous member has 15 years of service and is age 58. If the member chooses to retire, their benefit will be reduced to 87.0% (6.5% for each year away from age 60).