Policy Analysis | February 2012

At what age can state employees retire with full benefits in the SLC member states?

Alabama

State employees, state police, members of the Teachers' Retirement System and (on an elective basis) qualified persons of cities, towns, and quasi-public organizations may retire at age 60 with at least 10 years of service or after 25 years of service at any age.

Source: http://www.adph.org/ALPHTN/assets/082511aHandouts.pdf

Arkansas

Public employees are eligible for retirement at:

  • Age 65 with at least 5 years of service;
  • Any age with 28 years of service; or
  • Age 60 with 20 years of service (contributory members prior to 07/01/2005).

Source: http://www.apers.org/nearRetirement.php

Florida

The state recently enacted legislation to change the retirement age.

If initially enrolled in the FRS before July 1, 2011, state employees qualify for normal retirement when:

  • They are vested (6 years of service unless covered employment ended before July 1, 2001) and are age 62;
  • They have at least 30 years of creditable service; or
  • The age after age 62 when they become vested.

If enrolled in the FRS on or after July 1, 2011, state employees qualify for normal retirement when:

  • They are vested (8 years of creditable service) and are age 65;
  • They have at least 33 years of creditable service; or
  • The age after age 65 when they become vested.

Source: http://www.rol.frs.state.fl.us/forms/regular.pdf

Georgia

Georgia also has made changes to their state pension plan.

Under the Old Plan, the New Plan, and GSEPS, once state employees have reached Normal Retirement Age, they can retire and begin receiving monthly benefits. Normal Retirement Age is defined as the earlier of:

  • Age 60 and 10 years of Creditable Service (for certain Law Enforcement positions, age 55 and 10 years) or
  • 30 years of Creditable Service.

Once employees earn 10 years of Creditable Service, they have a vested right to a service retirement at age 60, even if they terminate employment before reaching age 60.

Source: http://www.ers.ga.gov/plans/ers/formspubs/ERS_Handbook.pdf

Kentucky

Retirement eligibility depends on age, service credit, participation date and type of service (non-hazardous or hazardous). The following rules are for unreduced benefits.

Non-Hazardous members hired prior to September 1, 2008:

  • Age 65 or older, with at least 1 month of service credit may elect to receive a benefit for life that is an actuarial equivalent to twice the member's contributions and interest;
  • Age 65 or older, with at least 48 months of service credit is eligible to receive an unreduced monthly benefit for life based on the member's salary and service credit; or
  • 27 or more years of service credit can retire at any time with no reduction in benefits.

Non-Hazardous members hired on or after September 1, 2008:

  • Age 57 or older, may retire with no reduction in benefits if the members age and years of service equal 87 or
  • Age 65, with at least 60 months of service credit may retire at any time with no reduction in benefits.

Hazardous members hired prior to September 1, 2008:

  • 20+ years of service credit may retire with no reduction in benefits;
  • Age 55 or older, with at least 1 month of hazardous duty service credit may elect to receive a benefit for life that is an actuarial equivalent to twice the member's contributions and interest; or
  • Age 55 or older, with at least 60 months hazardous duty service credit is eligible to receive an unreduced benefit based on the member's salary and service.

Hazardous members hired on or after September 1, 2008:

  • 25 or more years of service may retire at any time with no reduction in benefits or
  • Age 60 or older, with at least 60 months of service credit may retire at any time with no reduction in benefits.

Source: https://kyret.ky.gov/index.php/employees/retirement_eligibility

Louisiana

To be eligible for regular retirement, state employees must have:

  • 30 years of service credit at any age;
  • 25 years of service credit at age 55;
  • 10 years of service credit at age 60; or
  • 20 years of service credit at any age with actuarially reduced benefit.

Source: http://web.susla.edu/administration/Pages/LASERS.aspx

Mississippi

To be eligible for a service retirement benefit, a PERS member must be:

  • At least age 60 and vested (state retirement plan members who entered covered service before July 1, 2007, become vested after earning four years of membership service. Members who entered covered service on or after July 1, 2007, become vested after earning eight years of creditable service);
  • Any age if the member has 25 years of creditable service and was hired before July 1, 2011; or
  • 30 years of creditable service and was hired on or after July 1, 2011.

Source: http://www.pers.state.ms.us/retirementplans/pers/persretireplan.html

Missouri

State employees hired after January 1, 2011, become eligible for normal retirement at:

  • Age 67 with 10 years of service or
  • As early as age 55 (rule of 90; age + years of service = 90)

State employees hired after July 1, 2000, become eligible for normal retirement at:

  • Age 62 with 5 years of service or
  • As early as age 48 (rule of 80; age + years of service = 80)

State employees hired prior to July 1, 2000, become eligible for normal retirement at:

  • Age 60 with 15 years of service;
  • Age 65 with 5 years of service; or
  • As early as age 48 (rule of 80; age + years of service = 80)

Source: http://oa.mo.gov/pers/benefits.htm

North Carolina

Regular retirement benefits are afforded to state employees with the following conditions:

  • 30 years of service at any age;
  • Age 60 with 25 years of service; and
  • Age 65 with 5 years of service.

Source: http://www.doa.nc.gov/hrm/benefits.htm#retire

Oklahoma

Regular retirement benefits are available to state employees hired before November 1, 2011, at:

  • Age 62 with six full years of full-time employment;
  • Rule of 80; sum of age and years of service equals 80 (hired before July 1, 1992); or
  • Rule of 90; sum of age and years of service equals 90 (hired after June 30, 1992).

For state employees hired on or after November 1, 2011, regular retirement benefits are available at:

  • Age 65 with six full years of full-time employment or
  • Rule of 90; at least 60 years of age and sum of age and years of service equals 90. Employees also need six full years of full-time-equivalent employment and must be actively employed with a participating state retirement system employer at the applicable age to become eligible for normal retirement.

Source: http://www.opers.ok.gov/Default.aspx?shortcut=state-local-government-employees&__m=0

South Carolina

Normal retirement benefits are available to state employees at:

  • 28 years of service on the date of retirement, five years of which must be earned (years during which the employee makes regular contributions to the retirement system); or
  • Age 65 or older on the date of retirement with five years of earned service.

Source: http://www.retirement.sc.gov/scrs/active/basicinfo/default.htm#retirementeligibility

Tennessee

State employees become eligible for retirement at:

  • Age of 60 with five years of service or
  • Any age with 30 years of service.

Source: http://treasury.tn.gov/tcrs/

Texas

State employees who became members of the state retirement system prior to September 1, 2007, and maintained membership until retirement are eligible for normal retirement benefits at:

  • Age 65 with 5 or more years of service credit, or
  • Rule of 80; any combination of age and service totaling 80 with at least 5 years of service credit.

State employees who became members after September 1, 2007, are eligible for normal retirement benefits at:

  • Age 65 with 5 or more years of service credit, or
  • Age 60 with at least 5 years of service credit and Rule of 80 (combined age and years of service credit equal at least 80).

Source: http://www.trs.state.tx.us/active.jsp?submenu=retirement&page_id=/benefits/retirement_eligibility_checklist

Virginia

Unreduced retirement benefits become available to regular state employees at:

  • Age 65 with at least five years of service or
  • Age 50 with at least 30 years of service.

Source: http://www.varetire.org/members/plan1/benefits/definedbenefit/index.asp#state-employees-teachers

West Virginia

Full retirement benefits become available to state employees at:

  • Age 55 if age plus service equals 80 or more (Rule of 80) or
  • Age 60 and 5 or more years of service;

Source: http://www.wvretirement.com/PERS%20Plan%20Description.html