Example:
A member joins at age 22 and has ten years of service credit when he or she leaves public employment. The member can apply for a vested retirement benefit at the early retirement age of 42 (the age he or she would have had 20 years of service credit). The benefit will not be reduced.

Example:
A member joins at age 40 and has ten years of service credit when he or she leaves public employment. This member could begin receiving a vested benefit at the early retirement age of 60 (the age when he or she would have had 20 years of service credit). This benefit would not be reduced.

However, the member could instead choose to begin receiving the benefit as early as age 55 with a reduction of 16.65 percent (3.33 percent for each of the 5 years the benefit begins prior to his or her early retirement age of 60).

Example:
A member joins at age 41 and has ten years of service credit when he or she leaves public employment. This member could begin receiving a vested benefit at the early retirement age of 61 (the age when he or she would have had 20 years of service credit). This benefit would not be reduced.

However, the member could instead choose to begin receiving the benefit as early as age 55 with a reduction of 26.65 percent (6.67 percent for the one year his or her early retirement age exceeded age 60 plus 3.33 percent for each of the additional 5 years the benefit begins prior to his or her early retirement age of 61).

If you defer filing for your vested retirement benefit until you have or would have had 22 years and one month of creditable service, your vested retirement benefit will be eligible for escalation. Learn more about escalation.

When you turn 62, the benefit is further reduced by 50 percent of your primary Social Security benefit.