Age
65 or overBasic Benefit
Sum of the annual Prior Service Benefit and Current Service Benefit divided by 12.
Maximum prior to 7/1/2007:
$6,000 per monthEffective 7/1/2007:
Less than 20 Pension Credits: $6,500 per month 20 through 29 Pension Credits: $7,000 per month 30 through 34 Pension Credits: $7,500 per month 35 or more Pension Credits: $8,000 per month Minimum: $220 per month. Not applicable if you have fewer than 10 Pension Credits after excluding Pension Credit earned under the Alternative Eligibility Program
Delayed Retirement After 65Forms of Payment
- Five-Year Certain
- Joint and Survivor Pension (50%)
- Joint and Survivor Option (75%) effective 1/1/2008
- Joint and Survivor Option (100%)
- Pop-Up Options
- Ten-Year Certain Option
- Partial Lump Sum Option
All forms of payment except the Five-Year Certain are reduced.
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