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Termination Prior to Retirement Eligibility

VESTING

An employee who has at least 10 years of creditable service may terminate employment and elect to receive a monthly pension benefit on the day he or she becomes 65 years of age.

An employee who has at least 25 years of creditable service may terminate employment and elect to receive a monthly pension benefit on or after the day he or she becomes 55 years of age.  The benefit is subject to a reduction of one-twelfth (1/12th) of two percent (2%) for each month prior to 60 years of age.

A vested person who has not started receiving a monthly benefit may elect to receive a refund of pension contributions by signing a waiver of any future pension benefits.

If an employee has less than 10 years of creditable service at the time of separation of employment he or she may apply for a refund of contributions by completing and submitting the Refund of Contributions form to our office.  Refunds will not be processed for payment until the original form is received.