Normal Retirement


To receive your full retirement benefit under the FRS Pension Plan you must meet the required age or service requirements.
 
FRS Pension Plan FRS Investment Plan2
If you enrolled in the FRS prior to July 1, 20111, normal retirement is age 62 with at least 6 years of service or 30 years of service, regardless of age. For Special Risk members, normal retirement is age 55 with at least 6 years of Special Risk service, or 25 years of Special Risk service, regardless of age, or age 52 with 25 years of Special Risk service and military service.
 
If you enrolled in the FRS on or after July 1, 2011, normal retirement is age 65 with at least 8 years of service or 33 years of service, regardless of age. For Special Risk Class members, normal retirement is age 60 with at least 8 years of Special Risk service, or 30 years of Special Risk service, regardless of age, or age 57 with 30 years of Special Risk service and military service.
 
You will receive the full value of your retirement benefit once you've reached normal retirement eligibility.
 
If you elect to begin receiving your vested benefit prior to reaching normal retirement, it will be subject to early retirement reductions.
 
Provided you are vested, there are no age or service requirements that must be met for you to receive a benefit under the Investment Plan.
 
You're entitled to receive the full value of your vested account balance when you leave FRS-covered employment after meeting the distribution requirements of the plan, regardless of your age or years of service at that time.You cannot receive a distribution of your benefits until you have been terminated from FRS-covered employment for 3 calendar months, unless you have met the normal retirement requirements of the Pension Plan. If you meet these normal retirement requirements, you can take a one-time distribution of up to 10% of your account value after being terminated for 1 calendar month and the remaining balance after 2 additional calendar months (totaling 3 calendar months), if you have not returned to employment with an FRS-participating employer.
 
For example: If your termination date is April 20, 2017, you're eligible for a distribution on the first business day of August 2017. If you have met the normal retirement requirements of the Investment Plan, you would be eligible for up to 10% on June 1, 2017 and the remaining balance on or after August 1, 2017.
 
Keep in mind that the Pension Plan's definition of normal retirement (see explanation under "FRS Pension Plan") does apply to eligibility for the Health Insurance Subsidy (HIS). If you leave FRS employment prior to eligibility for normal retirement, you won't be eligible to receive the HIS until you reach the age requirement for normal retirement (if you enrolled in the FRS prior to July 1, 2011, age 62, with at least 6 years of service and age 55 with at least 6 years of Special Risk service if you're a Special Risk member, or if you enrolled in the FRS on or after July 1, 2011, age 65, with at least 8 years of service and age 60 with at least 8 years of Special Risk service if you're a Special Risk member). You should also keep in mind the possible tax consequences of taking cash payments from your account prior to normal retirement (see Taxability of Benefit section).
 
1If you terminated FRS-covered employment before July 1, 2001, vesting varied based on membership class:
  • Members of the Regular Class, Special Risk Class and Special Risk Administrative Support Class vested in the FRS Pension Plan after completing 10 years of creditable service.
  • Members of the Elected Officers' Class vested in the FRS Pension Plan after completing eight years of creditable service.
  • Members of the Senior Management Service Class vested in the FRS Pension Plan after completing seven years of creditable service.

2 "Normal retirement" for FRS Investment Plan members is the later of either the date the member attains normal retirement under the provisions of the Pension Plan or the date the member is vested under the Investment Plan. The following chart illustrates when a member achieves normal retirement depending on their class of membership and first date of hire:
 
  All Classes of Membership
(except Special Risk)
Special Risk
Hired prior to 7/1/11 Age 62 or older and 1
or more years of
Investment Plan service
Age 62 or older and 1
or more years of
combined Pension Plan
and Investment Plan service
Any age and 30
or more years of
service
Age 55 or older and 1
or more years of
Investment Plan
service
Age 55 or older and 1
or more years of
combined Pension
and Investment Plan service
Age 52 or older and 25 or
more years of
Special Risk and
military service
Any age and 25
or more years
of Special Risk
service
Hired after 7/1/11 Age 65 or older and 1
or more years of
Investment Plan service
Age 65 or older and 1
or more years of
combined Pension Plan
and Investment Plan service
Any age and 33
or more years of
service
Age 60 or older and 1
or more years of
Investment Plan service
Age 60 or older and 1
or more years
of combined Pension Plan
and Investment Plan service
Age 57 or older and 30
or more years of
Special Risk and
military service
Any age and 30
or more years of
Special Risk service