Early Retirement Pension

If a member retires early, the member will be entitled to a pension that is calculated the same way as for a normal retirement. The basic pension payable, however, will be reduced depending on the particular early retirement provision of the Plan under which the member retired.

“30 and Out”

A member who has completed at least 30 years of continuous service on his early retirement date will receive the following benefits, unreduced:

• Basic Pension: a monthly pension commencing on his early retirement date equal to the member’s accrued monthly lifetime pension

• Supplemental Pension: a monthly pension commencing on his early retirement date equal to $20 multiplied by his credited service (maximum of 30 years of credited service). The supplemental pension is payable until the earlier of the member’s death or normal retirement date.

• Special Additional Supplemental Pension: a monthly pension commencing on his early retirement date equal to $40 multiplied by his credited service earned after January 1, 1996. The special additional supplemental pension is payable until the earlier of the member’s death or age 60.

• Only the basic pension is subject to the indexing increases described below.

"55 and 10"

• A member who has attained age 55 and completed at least 10 years of continuous service on his early retirement date will receive the following benefits, reduced in accordance with the following table:

Age at Pension Commencement	Early Retirement Factor
65	1.00
64	0.94
63	0.88
62	0.82
61	0.76
60	0.70
59	0.66
58	0.62
57	0.58
56	0.54
55	0.50