Retirement at a Glance

The following is a summary of the age and service requirements, and the straight life pension formulas for different retirement types.

Retirement at a Glance

Full retirement

Age & Service Requirements:

• Age 60 with 10 years of service; or
• Age 55 and working with 30 years of service (YOS).

(Special group note: Unclassified legislative, executive branch, and Department of Community Health employees involved in a facility closing need 5 years of service at age 60.)

Straight Life Pension Formula: Final average compensation (FAC) multiplied by 1.5% multiplied by YOS.

Early reduced

Age & Service Requirements: 

• Age 55 with at least 15 YOS and fewer than 30 YOS.

Straight Life Pension Formula: Straight life pension MINUS 1/2% for each month before age 60.

Covered Employees

Age & Service Requirements:

• Age 51 with 25 years in a covered position.*
• Age 56 with 10 years in a covered position.*
  *Your last 3 years must have been in a covered position.

Straight Life Pension Formula:

Pension until age 62:
(FAC x 1.5% x YOS) PLUS
(FAC x 1/2% x covered YOS)

Pension at age 62:
FAC x 1.5% x YOS

Conservation Officers

Age & Service Requirements: 

• Hired before April 1, 1991: No age requirement; 25 YOS with 20 years as a conservation officer.*
• Hired after April 1, 1991:No age requirement; 25 YOS with 23 years as a conservation officer.*
  *Your last 2 years must be as a conservation officer.

Straight Life Pension Formula: 2-year FAC x 60%

Community health facility closures

Age & Service Requirements: 

• Age 51 with 25 YOS.*
• Age 56 with 10 YOS.*
• Any age with 25 years in a closing facility.
  *Your last 5 YOS were in a closing facility.

Straight Life Pension Formula: FAC x 1.5% x YOS

Duty Disability, Duty Death

Age & Service Requirements: 

• No age or service requirements.

Straight Life Pension Formula: Please contact us.

Nonduty Disability, Nonduty Death

Age & Service Requirements: 

• No age requirement; 10 YOS.

Straight Life Pension Formula: Please contact us.