If you are under 50, and vested in the Plan, and begin to receive benefits as early as age 55. However, you will break service and you will receive the early retirement reductions for inactive members. Your pension will be based on the rates and rules in effect at the time you broke service. If you transfer your commuted value, you receive no further benefits from the Plan, and if your rejoin at a later date, you must re-vest and begin earning your pension again from zero. Commuted Value is the amount of money, that, if invested today at current interest rates and left until you are 65, would be expected to provide the same monthly pension as you would have received from the Pension Plan at 65.
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