Retirement

TRS

FULL RETIREMENT ELIGIBILITY CRITERIA

You are eligible for service retirement at any age once you have earned 27 years of service credit.
You are eligible for service retirement at the age of 60 with at least 5 years of service credit.

EARLY RETIREMENT ELIGIBILITY CRITERIA

If you became a member prior to July 1, 2008, you are eligible for service retirement at age 55 with at least 5 years of service credit at a reduced benefit of 5 percent for each year you are under age 60 or have earned fewer than 27 years of service, whichever is less.
If you became a member on or after July 1, 2008, you are eligible for service retirement at age 55 with at least 10 years of service credit at a reduced benefit of 6 percent for each year you are under the age of 60 or have earned fewer than 27 years of service, whichever is less.

KERS – participating prior to September 1, 2008

FULL RETIREMENT ELIGIBILITY CRITERIA

You are eligible for service retirement at any age once you have earned 27 years of service credit.
You are eligible for service retirement at the age of 65 with at least 48 months of service credit.

EARLY RETIREMENT ELIGIBILITY CRITERIA

You can receive a reduced benefit at any age once you have earned 25 years of service credit.
You can receive a reduced benefit at the age of 55 with at least 5 years of service credit.

ORP

FULL RETIREMENT ELIGIBILITY CRITERIA

You may start taking normal 403(b) plan distributions without penalty once you reach age 59 ½. Distributions are fully taxable at ordinary income rates.
You may take early distributions if you are at least 55 when you separate from service.
Employees are strongly advised to contact their ORP provider concerning distribution options and financial planning.