Vested pension (normal retirement age rule)
Age
Age 65 or older
Service and other
Normal retirement age and active
Basic benefit
Same as regular pension, except minimum $220 monthly benefit does not apply.
Forms of payment
- Five-Year Certain
- Ten-Year Certain Option
- Joint and Survivor Pension (50%)
- Joint and Survivor Option (75%) effective 1/1/2008
- Joint and Survivor Option (100%)
- Pop-Up Options
- Partial Lump Sum Option
Reduction factors: All forms of payment except the Five-Year Certain are reduced. For more information, contact us.
Conditions that may result in loss of some or all benefits
Limited five-year vested pension
Age
Age 65 or older
Service and other
- Five pension credits without a permanent break-in-service; and
- Passing the activity test
Basic Benefit
Same as regular pension, except minimum $220 monthly benefit does not apply.
Forms of Payment
- Five-Year Certain
- Ten-Year Certain Option
- Joint and Survivor Pension (50%)
- Joint and Survivor Option (75%) effective 1/1/2008
- Joint and Survivor Option (100%)
- Pop-Up Options
- Partial Lump Sum Option
Reduction factors: All forms of payment except the Five-Year Certain are reduced. For more information, contact us.