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Retiring With Full Benefits
- Age 65 with five years of service credit
- Age 60 with 30 years of service credit
Retiring Early
You can receive reduced benefits at age 55 with ten years
of service. The earlier you retire, the more your benefit is reduced. If you retire before age 60 with at least 30 years of service, there is less of a reduction.
If You Retire Early... less than 30 years |
| Age |
Reduction |
Example - less than 30 years of service |
| 65 |
0% |
Full benefit = $1,500/month |
| 60 |
35% |
Reduced benefit = $975/month |
| 55 |
57.5% |
Reduced benefit = $636/month |
If You Retire Early... 30 years + |
| Age |
Reduction |
Example - at least 30 years of service |
| 65 |
0% |
Full benefit = $1,500/month |
| 60 |
0% |
Full benefit = $1,500/month |
| 55 |
28.75% |
Reduced benefit = $1,068/month |
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