Will I receive a reduced retirement allowance due to my age at retirement?
If you choose to retire earlier than normal retirement age, an age-reduction factor may be applied to your service retirement allowance, depending on your tier and retirement program.
Tier I Members
Age reductions would not apply if you are at least age 55 at your payability date. You may retire before age 55 (with an age-reduction factor) if you have at least 30 years of Total Service Credit. The chart below shows the percentage of the full benefit that you would receive in this case:
| Age at Payability Date |
% of Benefit |
| 54 |
95% |
| 53 |
90% |
| 52 |
85% |
| 51 |
80% |
| 50 |
75% |
Tier II, III^, and IV Members
The chart below shows the percentage of the full benefit that you may receive if you retire before age 62 with less than 30 years of Total Service Credit. (^Please note that different age-reduction factors would apply to retirements under Tier III. However, those factors are rarely used and not shown below because Tier III members normally retire under Tier IV.)
| Age at Payability Date |
% of Benefit |
| 61 |
94% |
| 60 |
88% |
| 59 |
85% |
| 58 |
82% |
| 57 |
79% |
| 56 |
76% |
| 55 |
73% |
Note: Age reductions would not apply to members who retire with at least 30 years of Total Service Credit. Participants in the Age 55 Retirement Program who retire after meeting the requirements of this program would also not be subject to age reductions; for more information, please see the What is the Age 55 Retirement Program? FAQ above.
Tier VI Members
The chart below shows the percentage of the full benefit that you may receive if you retire before age 63.
| Age at Payability Date |
% of Benefit |
| 62 |
93.5% |
| 61 |
87.0% |
| 60 |
80.5% |
| 59 |
74.0% |
| 58 |
67.5% |
| 57 |
61.0% |
| 56 |
54.5% |
| 55 |
48.0% |