|
Benefits - Active Members
BENEFITS AT A GLANCE
Retirement with a Full Benefit
Regular Employees:
If you are a regular employee, you may retire from the
government with a full service retirement annuity when you
have completed thirty (30) years of credited service. A full
service retirement annuity is 75% of your average
compensation. A member, however, after working for forty
(40) years with the government shall receive 100% of average
compensation. A regular employee shall not receive credit
for any years in excess of 40 in the employment of the
government.
Also, a regular employee may apply for a service
retirement annuity if they have attained the age of 60 and
have completed at least ten (10) or more years of credited
service.
"Safety" Employees and Employees Retiring
Under Act 5226:
If you are a "Safety" employee, you may retire
from the government with a full service retirement annuity
when you have: · Earned at least 20 years of government
service regardless of your age. · Reached age 55 with at
least 10 years of credited service (retirement is
automatic).
However, a "Safety" employee shall receive no
more than 90% of salary.
Senators and Legislative Members
If you are a Senator or a Member of the Legislature, you
may receive a retirement annuity from the government when
you have:
· Attained age 50, and upon completion of six (6) years
of credited service. · Earned at least 6 years of credited
service as a member of the Legislature.
Judicial Employees
Members electing to participate shall contribute 11% of
their annual compensation and will receive a prescribed
percentage for the completion of a particular number of
terms. For example, a member of the Judiciary may receive
30% of compensation for the completion of one term and as
much as 90% for the completion of three terms. For the
purposes of calculating benefits, "compensation"
shall represent the highest rate of compensation received by
that Judiciary member during his tenure.
|
