Early Retirement Pension Continued

• Basic Pension: a monthly pension commencing on his early retirement date equal to the member’s accrued monthly lifetime pension, multiplied by the applicable early retirement factor.

• 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), multiplied by the applicable early retirement factor. 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, multiplied by the applicable early retirement factor.

  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 2”

A member who has attained age 55 and completed at least 2 years of continuous service on his early retirement date will receive a basic pension commencing his early retirement date equal to the member’s accrued monthly lifetime pension, actuarially reduced.

The basic pension is subject to the indexing increases described below.