Planning your retirement
See when you can retire, how your benefit is figured and which payment option fits your family.
When can I retire?
Your rules depend on when your first eligible employment began.
| Retirement type | Service credit | Age |
|---|---|---|
| Regular | 12 years or more | 55 |
| Regular | 30 years or more | Any age |
| Reduced | At least 10, less than 12 years, while active | 60 |
| Early (reduced) | 20 years or more | 50 to 54 |
| Deferred | 12 years or more, contributions left in the Fund | 55 |
| Retirement type | Service credit | Age |
|---|---|---|
| Regular | 12 years or more | 62 |
| Regular | 20 years or more | 60 |
| Regular | 30 years or more | 55 |
| Early (reduced) | 20 years or more | 50 to 59 |
| Early (reduced), Act 42 of 2026 | 30 years or more | Over 50, based on age 55 |
| Deferred | 12 years or more, contributions left in the Fund | 62 |
How your benefit is figured
Final average compensation is your average monthly salary over your highest 36 or 60 successive months, depending on your hire date60 successive months. The benefit can’t exceed 100% of it.
To see your own numbers, log in to your member account or ask a Benefits Analyst for an estimate.
Compare the payment options
The handbook’s example: 22 years of service, $2,500 final average compensation, member age 60, spouse age 58. These figures are illustrations only.
| Plan | To you, monthly | To spouse after your death | What it does |
|---|---|---|---|
| Maximum | $1,833.32$1,650.00 | $0$0 | All monthly benefits stop. A beneficiary gets any contributions not yet paid out. |
| Option 1 | $1,821.06$1,637.74 | $0$0 | Unused contributions are paid as a lump sum. Slightly below the Maximum. |
| Option 2 | $1,562.32$1,406.10 | $1,562.32$1,406.10 | Same amount continues to your spouse for life. |
| Option 2A | $1,536.78$1,383.11 | $1,536.78$1,383.11 | Your benefit “pops up” to the Maximum if your spouse dies first. |
| Option 3 | $1,687.00$1,518.31 | $843.50$759.16 | Half your benefit continues to your spouse for life. |
| Option 3A | $1,672.00$1,504.82 | $836.00$752.41 | Same as Option 3, with the “pop-up” to the Maximum. |
| Option 5 | $1,649.99$1,485.00 | $825.00$742.50 | 90% of the Maximum. Ages aren’t a factor. |
Option 4 is a custom benefit computed by the actuary. You can’t change your option after filing, except for a one-time correction of an error within a year of retirement.
Back-DROP
When you retire, you can choose to have part of your recent service paid as a lump sum. Your monthly benefit is figured as if you’d retired at the start of that period, and you receive that benefit multiplied by the months you selected, plus the employee contributions you paid during those months.
New in 2026: Act 282 allows up to 60 months with 35 or more years of service credit.
| Your service credit | Longest Back-DROP period |
|---|---|
| Less than 30 years | 36 months |
| 30 years or more | 48 months |
| 35 years or more | 60 months |
Getting ready to retire
Regular applications usually take about four weeks once all forms and documents are on file.
Get the retirement packet- Check your eligibilityConfirm your age and service against the table above.
- Review your estimateLog in to your account, or call a Benefits Analyst.
- Write to the Fund 30 to 60 days aheadAsk for an estimate as of your date and what documents you’ll need.
- Gather your documentsThese can include birth or baptismal certificates for you and your spouse, a marriage certificate, and divorce or death records.
- Apply through your sheriff’s officeChoose your payment option with your spouse, who must sign the option selection.
- Start your benefitPayments are made by electronic transfer and are available on the first banking day of each month.
If you can’t work because of a disability
Disability from illness or non-job-related injury can be claimed after at least 10 years of creditable service. Partial disability pays 75% of the total disability amount.
Read the disability provisions