How is my early retirement pension computed?
An early retirement pension is computed the same way as a normal retirement pension; based on your Final Average Earnings and credited service at the time of retirement. However, the amount is reduce by 1/15 for each of the first 2.5 years, and 1/30 for each of the next 2.5 years.

For example, if retiring at age 55 and 15.4778 years of service with Final Average Earnings of $23,646.89, your pension would be reduced: (YOS) 15.4778 X .025 X $23,646.89 X .5417 = $4,956.58 (annual benefit.)

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1. How do I know if I am eligible to participate in the General Employee Defined (DB) Retirement Plan?
2. When do I become eligible for normal retirement benefits?
3. How is the amount of my normal retirement benefits computed?
4. When you calculate my pension, what is included in my earnings?
5. Can I retire before I am eligible for normal retirement benefits?
6. How is my early retirement pension computed?
7. How long are pension payments made?
8. Can I provide for payments to continue to a beneficiary upon my death?
9. What happens if I leave City employment before I can retire?
10. What if I leave City employment before I have the required 10 years of credited service?
11. Are benefits paid if I die before I retire?
12. What happens if I am disabled?
13. Who pays for retirement benefits?
14. Can I ever lose the contributions I made to the Plan?
15. What happens to the pension contributions?
16. Who administers the Defined Benefit Plan?
17. What are my medical benefits under the Defined Benefit (DB) Retirement Plan?
18. What is a Deferred Retirement Option Plan (DROP)?
19. Can I purchase prior Military Service?