Regular Pension
Minimum Age
Age 65
Pension Credits and Other Requirements
- Earned at least 15 pension credits
- Retired from covered employment
Basic Benefit
Benefit rate multiplied by the number of pension credits.
Payment Options
- 50% Husband and Wife (automatic for married members)
- 75% Husband and Wife
- 100% Husband and Wife
- 60 Certain Payments (automatic for single members)
- 120 Certain Payments
- Lump-Sum Readjustment Allowance (LSRA)
- Lump-Sum Payment (automatic for a pension benefit with a value of $5,000 or less)
Early Retirement Pension
Age
Minimum age 55
Pension Credits and Other Requirements
- Earned at least 15 pension credits
- Retired from covered employment
Basic Benefit
Same as regular pension but it is lowered because benefits will be paid over longer period of time.
Payment Options
- 50% Husband and Wife (automatic for married members)
- 75% Husband and Wife
- 100% Husband and Wife
- 60 Certain Payments (automatic for single members)
- 120 Certain Payments
- Lump-Sum Readjustment Allowance (LSRA)
- Lump-Sum Payment (automatic for a pension benefit with a value of $5,000 or less)