When Can You Retire - KP&F
Retiring With Full Benefits
Retiring Early
If You Have Service Credit With KPERS or the Judges Retirement System
You must meet both age and service requirements. Your age is determined by your last birthday. A remainder of two service quarters will round to one year.
Note: The maximum retirement benefit (80 percent of final average salary) is reached when you have 32 years
of service. Working more than 32 years will not increase your benefit unless your final average salary increases.
- Tier I:
- Age 55 with 20 years of service
-
Any age with 32 years of service
- Tier II:
- Age 50 with 25 years of service
- Age 55 with 20 years of service
-
Age 60 with 15 years of service
- Tier I Transfer Members:
-
Age 50 with 25 years of service
-
- Tier II Transfer Members:
- Age 50 with 25 years of service
- Age 55 with 20 years of service
-
Age 60 with 15 years of service
- Brazelton Members:
-
Same as regular Tier I and Tier II members, except
that your monthly benefit will be offset by Social Security
-
- Special Members:
- See your local plan provisions
Retiring Early for Tier I and Tier II
You can retire as early as age 50 with 20 years of service. However, your benefits will be permanently reduced. Benefits are reduced by 0.4 percent for each month you are under age 55.
If You Retire Early... |
||
|---|---|---|
| Age | Reduced by | Example: A $1,000 benefit: |
| At age 50... | 24.0% | would be reduced to $760. |
| At age 51... | 19.2% | would be reduced to $808. |
| At age 52... | 14.4% | would be reduced to $856. |
| At age 53... | 9.6% | would be reduced to $904. |
| At age 54... | 4.8% | would be reduced to $952. |
If You Have Service Credit With KPERS or the Judges Retirement System
You may be able to combine service credit in all three retirement plans to become eligible for retirement.
For example, if you have KPERS service credit, it may count towards your KP&F service requirement for retirement eligibility. Only KP&F service will be used to calculate your KP&F retirement benefit. A separate retirement benefit
will be calculated for your KPERS service.
Purchased military service cannot be used to reach retirement eligibility. Other guidelines apply. Contact the Retirement System to make sure you meet the requirements to retire.