Do not use these amounts for your own calculations. Each member's benefit must be calculated individually. Members who retire prior to reaching Normal Retirement Age will have an Early Retirement reduction factor applied that will lower the monthly benefit. Occasionally, legislatively enacted retirement incentives have been offered to SERS members based on age and years of credited service. SERS routinely notifies eligible members as these incentives become available.
All options listed require proof of age documentation.
With limited exceptions, option election is final and binding. The Maximum Single Life Annuity is the basic SERS retirement plan. The Maximum Single Life Annuity provides the maximum monthly pension amount to which you are entitled for as long as you live. Your accumulated deductions are the total of your contributions plus interest. Whether you have reached Normal Retirement Age or are taking Early Retirement, you may wish to receive your monthly benefit under some payment plan other than the Maximum Single Life Annuity.