Office of the State Comptroller Retirement Services Division |
Tier II/IIA - Retirement Basics | ||||||||||||||||||||||||||
For Retirement Dates through 6/1/2022***
|
Retirement Type | Age And Service Requirements For Commencement Of Pension Benefits | Entitled To COLA |
---|---|---|
Normal | Age 60 with 25 Years of Vesting Service | Yes |
Age 62 with 10 Years Vesting Service | Yes | |
Age 62 with 5 Years Actual State Service (effective 7/1/97) | Yes | |
Age 70 with 5 Years Vesting Service (Tier II only) | Yes | |
Early | Age 55 with 10 Years Vesting Service | Yes |
Vested Rights* Tier II |
Age 55 with 10 Years Vesting Service |
Yes |
Age 65 with 5 Years Actual State Service (effective 7/1/97) | Yes | |
Vested Rights*
Tier IIA |
Age 55 with 10 Years Vesting Service |
Yes (If 10 years of Actual State Service) |
Age 65 with 5 Years Actual State Service | No |
** Members who left state service after satisfying the minimum service credit requirement, but before satisfying the minimum age requirement.
*** Effective July 1, 2022 Normal Retirement Age will change. Please see SEBAC 2011 agreement.
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