Calculating a Reduced Early Retirement (5%)
Member's Age |
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|
Months
|
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| Years | 0 |
1 |
2 |
3 |
4 |
5 |
6 |
7 |
8 |
9 |
10 |
11 |
| 55 | .50 |
.5042 |
.5083 |
.5125 |
.5167 |
.5208 |
.5250 |
.5292 |
.5333 |
.5375 |
.5417 |
.5458 |
| 56 | .55 |
.5542 |
.5583 |
.5625 |
.5667 |
.5708 |
.5750 |
.5792 |
.5833 |
.5875 |
.5917 |
.5958 |
| 57 | .60 |
.6042 |
.6083 |
.6125 |
.6167 |
.6208 |
.6250 |
.6292 |
.6333 |
.6375 |
.6417 |
.6458 |
| 58 | .65 |
.6542 |
.6583 |
.6625 |
.6667 |
.6708 |
.6750 |
.6792 |
.6833 |
.6875 |
.6917 |
.6958 |
| 59 | .70 |
.7042 |
.7083 |
.7125 |
.7167 |
.7208 |
.7250 |
.7292 |
.7333 |
.7375 |
.7417 |
.7458 |
| 60 | .75 |
.7542 |
.7583 |
.7625 |
.7667 |
.7708 |
.7750 |
.7792 |
.7833 |
.7875 |
.7917 |
.7958 |
| 61 | .80 |
.8042 |
.8083 |
.8125 |
.8167 |
.8208 |
.8250 |
.8292 |
.8333 |
.8375 |
.8417 |
.8458 |
| 62 | .85 |
.8542 |
.8583 |
.8625 |
.8667 |
.8708 |
.8750 |
.8792 |
.8833 |
.8875 |
.8917 |
.8958 |
| 63 | .90 |
.9042 |
.9083 |
.9125 |
.9167 |
.9208 |
.9250 |
.9292 |
.9333 |
.9375 |
.9417 |
.9458 |
| 64 | .95 |
.9542 |
.9583 |
.9625 |
.9667 |
.9708 |
.9750 |
.9792 |
.9833 |
.9875 |
.9917 |
.9958 |
To convert a Deferred Pension to one payable before age 65:
- Determine the Former Member's age at the time the pension is to start.
- Look up the factor in the above chart based on the Former Member's age in years and months.
- Multiply the indexed Deferred Pension payable at age 65 and the indexed Bridge Benefit by the above factor to determine the pension payable now.
July 2008
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