Service Retirement
Tier B+: Group II (Police and Fire) members in service prior to 7/1/2011 and has met Tier B+ eligibility date.
Group II members are eligible to retire at (1) age 45 with 20 years of Group II Creditable Service or (2) at age 60 regardless of their years of Creditable Service upon attainment of reaching their Tier B+ Eligibility Date. Different provisions apply to members with Split Benefits.
Tier B+ Eligibility Schedule
| January 1, 2013 |
January 1, 2026 |
| January 1, 2014 |
July 1, 2026 |
| January 1, 2015 |
July 1, 2027 |
| January 1, 2016 |
July 1, 2028 |
| January 1, 2017 |
July 1, 2029 |
| January 1, 2018 |
July 1, 2030 |
| January 1, 2019 |
July 1, 2031 |
| January 1, 2020 |
July 1, 2032 |
| January 1, 2021 |
July 1, 2033 |
| January 1, 2022 |
July 1, 2034 |
Annual Pension Calculation
The following calculation is based on the maximum retirement allowance payable and does not include any applicable reduction under an Optional Allowance.
Average Final Compensation × 2.5% × Creditable Service
= Approximate Annual Pension
Example
A Group II Tier B+ member retires with:
- Age: 45 years old
- Creditable Service: 20 years
- Average Final Compensation (AFC): $40,000
Calculation:
- $40,000 × 2.5% = $1,000
- $1,000 × 20 years = $20,000 estimated annual pension
Ready to Apply for Service Retirement?
If you are considering retirement, please review the Filing for Benefits page as soon as possible for a filing overview, filing deadlines, and the documents you will need before retiring.