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Retirement at a Glance

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. Find more information about qualifying for your pension and estimating your pension in the Ready to Retire section of this website. 

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.