You are eligible to retire at any age after completing 20 years of creditable service. You may also receive a service retirement benefit at age 62, even if you do not have 20 years of creditable service.
With 20 years of creditable service, you will receive a retirement benefit of 50 percent of your FAS. If you are age 62 with less than 20 years of service, your benefit is 1/40th (2.5 percent) of your FAS for each year of creditable service, plus an additional pension for any other creditable service not covered by this plan. In either case, your total benefit cannot exceed 50 percent of your FAS.
If you are at least 55 at retirement and an alternative regular plan would provide a greater benefit, the greater benefit will be paid.
If you made annuity savings contributions, your benefit will also include an annuity based on those contributions and the interest they earned.
The Application for Service Retirement (RS6037) must be on file with the Office of the State Comptroller at least 15 days but not more than 90 days before the date of your retirement. The 15-day filing requirement is waived if you are over age 70 at retirement.