Tier 2, 3, 5 and 6 members who retire before age 62 will have their benefit reduced by the percentages shown below. The percentage of the benefit reduction is prorated based on your exact age at retirement.
| Age at Retirement | Percentage of Reduction |
|---|---|
| 55 | 27 |
| 56 | 24 |
| 57 | 21 |
| 58 | 18 |
| 59 | 15 |
| 60 | 12 |
| 61 | 6 |
| 62 | 0 |
It is important to know that once you retire with a reduced benefit, the reduction is permanent — it does not end when you turn 62.