Nonhazardous
The requirements for an Unreduced Benefit are:
Age 57 or older, may retire with no reduction in benefits if the members age and years of service equal 87(Rule of 87).
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:
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.
Years from Age 65 or Rule of 87 (Whichever is Less)
| Years | % of Nonhazardous Benefit Paid |
| 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 60. If the member chooses to retire, his or her benefit will be reduced to 87% (6.5% for each year away from Rule of 87).
Hazardous
The requirements for an Unreduced Benefit are:
- 25 or more years of service may retire at any time with no reduction in benefits.
- 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:
- 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
Years from Age 60 or 25 Years of Service (Whichever is Less)
| Years | % of Hazardous Benefit Paid |
| 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 member has 23 years of service and is age 52. If the member chooses to retire, his/her benefit will be reduced to 87.0% (6.5% for each year away from 25 years of service).