Early Retirement Without Recent Coverage

Even if you do not have recent coverage at retirement, you can retire before age 65 and as early as age 55 as long as you are vested. Your benefits are reduced for early retirement. The reduction is greater than if you have recent coverage.

ELIGIBILITY
To qualify for early retirement without recent coverage, you must be a vested participant between the ages of 55 and 65.

Benefit Amount
Your early retirement benefit without recent coverage is calculated by multiplying your normal retirement benefit by your early retirement factor. Click here to see a partial list of early retirement factors without recent coverage. Your own early retirement factor is based on your exact age (in completed years and months) on your pension effective date.

This amount assumes that you choose the life only pension. If you choose a form of payment other than the life only pension, your benefit amount is different. Click here for information about payment options.

You can choose to have your early retirement benefit start on the first of any month after you first become eligible for early retirement (usually age 55). However, your pension cannot begin until you stop all work for covered employers and former covered employers, including non-covered employment.

Here are the rules about choosing your pension effective date.

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