Alternative Early Retirement Reduction Table. The monthly Early Retirement benefit shall be computed in the same manner as the monthly Normal Retirement benefit, but the benefit shall be reduced to account for early commencement of benefits based on the following table. This table shall apply to: All Participants. Only the following Participants (must specify - specific positions are permissible; specific individuals may not be named): .
Alternative Early Retirement Reduction Table. Number of Years Before Age 65 Percentage of Normal Retirement Benefit* 0 1.000 1 0.970 2 0.940 3 0.910 4 0.880 5 0.850 6 0.790 7 0.730 8 0.670 9 0.610 10 0.550 11 0. 12 0. 15 0. *Interpolate for whole months
Alternative Early Retirement Reduction Table. The monthly Early Retirement benefit shall be computed in the same manner as the monthly Normal Retirement benefit, but the benefit shall be reduced to account for early commencement of benefits based on the following table. This table shall apply to: All Participants. Only the following Participants (must specify - specific positions are permissible; specific individuals may not be named): Participants who Retire early using the 55 & 10 Early Retirement qualification in Section 14(A) above. See also General Addendum subsection 16(d) regarding the reduction applicable to Participants who have at least five (5) years of Credited Service while employed as police and fire personnel or former police and fire personnel and apply for Early Retirement based on the 50 & 20 Alternative Normal Retirement qualification.
