The normal retirement date shall be the first day of the month following the employee’s sixty-fifth (65th) birthday at which date the employee shall be 100% vested in his retirement allowance.
Options for retirement prior to age 65 depend on when the employee was first hired, as follows:
Hire Date | When You're Eligible for Retirement Benefits |
On or before 9/5/01 |
|
After 9/5/01 but Before 1/18/08 |
|
On or after 1/18/08 |
|
1The retirement allowance is reduced by 5% for each year or fraction of a year below age 65. (Plan Section 10.2)