Retirement Eligibility
Retirement ages and choices that result in relation to benefits:
- If you are 50 by May 1, 2003, you may early retire before July 1 and you are eligible for benefits including medical benefits paid at the old amount as outlined on page 196 of our Contract. If you retire after July 1, you are still eligible for benefits but must pay the new medical contribution.
- If you are 50 after May 1, but before July 1, you may retire before July 1 and be eligible for benefits including medical benefits at the rate outlined on page 196 of the Contract. If, however, you wait until after July 1, you would not be eligible for the medical and other benefits until age 55.
- If you are not 50 before July 1, you must wait until you are 55 before you are eligible to receive benefits other than pension.
- If you are over 55 you may early retire at any time and receive benefits. Before July 1, you pay the retiree medical contribution outlined on page 196; after July 1 you pay the new contribution amounts for retiree medical.
Notes
- In all cases you are eligible to receive your vested pension at age 50, whether you retire or terminate.
- In order to retire before July 1, contact your supervisor to receive direction about how to submit your request.
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