3      ADDITIONAL CALCULATORS

•CALCULATIONS ARE ESTIMATED
  NOTE:  You must perform calculation in Step #1 first for the additional calculators to work properly.

(b) Early Retirement.

With Reduction. A Participant may retire at any time on or after the Participant’s Early Retirement Date and receive a pension at the annual rate of 1.75% percent of the Participant’s Final Average Base Salary multiplied by the Participant’s Years of Credited Service, maximum 30 years, but such benefit shall be reduced by the full or partial calendar months by which the Participant’s benefit commencement date precedes the earlier of the Participant’s Normal Retirement Date or the date the Participant would first be eligible for unreduced benefits under the Rule of 90 based on the Participant’s credited service at time of retirement.

Rule of 90. A Participant may retire at any time on or after the Participant’s Early Retirement Date and receive a pension at the annual rate of 1.75% percent of the Participant’s Final Average Base Salary multiplied by the Participant’s Years of Credited Service, a maximum of 30 years, without reduction by a factor related to the time preceding the Participant’s Normal Retirement Date, provided that the total of the Participant’s age, which shall not be less than 55 years, plus number of Years of Credited Service is 90 or more.

IF EARLY RETIREMENT...		$
Enter number of months reduced- then click 'COMPUTE'		Estimated reduced monthly benefit
$ Your monthly reduction:

This estimate is for illustrative purposes only.  Estimated calculations have been rounded to two digits.  It is intended to assist with long-term financial planning.   It is not a guarantee of benefits that may be available to a member at retirement.   Any reliance on information obtained through this benefits estimator must be done solely at the user's own risk. 

No decisions should be made regarding actual retirement choices based in whole or in part upon information obtained through this benefit estimator.  Before making any final retirement plans, a member should contact an Office of Pensions benefits counselor.  Nothing in this estimate is meant to extend or change in anyway the provisions expressed in the Plan.  If there is a conflict between this calculation and the Plan, the Plan controls.  All member accounts are subject to final audit.  To obtain an estimate of benefits from the Office of Pensions, call 1-302-739-4208 or toll-free at 1-800-722-7300.