The following table lists the eligibility requirements and benefit calculations for each of the Employees' Retirement System's plans. Please note that, with the exception of Plan E, the total benefit calculation is comprised of two components: a Base Benefit plus a Pre-Social Security Benefit.
|
Plan
|
Eligibility |
Base Benefit Calculation |
PLUS Pre-Social Security Benefit |
| A |
On your 50th birthday, you have 30 years or more of eligibility service,
OR
At any time thereafter when your age plus years of eligibility service total 80 or more
|
1.8% x FAS x Years of Benefit Service x 1.03 |
1.0% x FAS x Years of Benefit Service x 1.03 |
| B |
On your 50th birthday, you have 30 years or more of eligibility service,
OR
At any time thereafter when your age plus years of eligibility service total 80 or more
|
2.0% x FAS x Years of Benefit Service x 1.03 |
1.0% x FAS x Years of Benefit Service x 1.03 |
| C |
On your 55th birthday, you have 30 years or more of eligibility service,
OR
At any time thereafter when your age plus years of eligibility service total 85 or more.
|
1.8% x FAS x Years of Benefit Service x 1.03 |
1.0% x FAS x Years of Benefit Service x 1.03 |
| D |
On your 55th birthday, you have 30 years or more of eligibility service,
OR
At any time thereafter when your age plus years of eligibility service total 85 or more.
|
2.0% x FAS x Years of Benefit Service x 1.03 |
1.0% x FAS x Years of Benefit Service x 1.03 |
| E |
On your 55th birthday, you have 30 years or more of eligibility service,
OR
At any time thereafter when your age plus years of eligibility service total 85 or more.
|
2.0% x FAS x Years of Benefit Service |
None |
