Retirement Cheat Sheet

Photo on the Lake with two chairs and a boat
  GE
( General Employees)
 PBA
(Police Benevolent Association)  		  IAFF
(International Association of Fire Fighters)		 MPP
(Management Pension Plan)
 Vesting Period 7 Years  10 Years 10 years  5 years
 Normal Retirement

If hire date is after 11/20/2001:

  • 20 years of credited service or
  • Age 65 and 7 years of credited service
  • If you have at least 7 years of credited service and separate, you can elect to receive benefits on the date you would have completed 20 years of credited service provided you have also reached age 55.

Tier 1

  • 20 years of service or
  • Age 55 and 10 years of credited service

Tier 2

  • 25 years of service or
  • Age 55 and 10 years of credited service
  • 25 years of service or
  • Age 55 and 10 years of credited service
  • 20 years of service or
  • Age 55 and 10 years of credited service or
  • Age 62 and 5 years of credited service
  
 Early Retirement Age 55 and 7 years of service

Age 50 and 10 years of service
 Employee Contribution Rate 7.36% 13.4% of earnings including first 300 hours of overtime earned each year (pre-tax) 8.47% 13.515%
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