The Age Factor

Quarter - Years

Ages used in determining retirement allowances are stated in terms of quarter-years. You will receive an incremental age adjustment, which slightly increases your benefit for each quarter of a year increase in your age up to age 50 for safety members and age 60 for Miscellaneous members. For example, if you were born in January 1950 and retired in May 2005, your age at retirement would be 55 1/4.

If you select an option other than the "unmodified" allowance, your monthly payment amount will be reduced based on your beneficiary's age as well. If your beneficiary is much younger than you are your retirement benefit can be sharply reduced.