Getting Ready to Retire

Eligibility Requirements
When will you be able to retire?

• Normal Retirement
• Early Retirement: 25-and-Out
• Early Retirement: Age-Reduced
• Partial Lump Sum Option (PLSO)

Calculating Benefits
How much will your benefit be?

Retirement benefits are calculated as follows:

• Normal (full-formula)          
• 25-and-Out
• Age-Reduced
• PLSO
  

Payment Plans
How do you want to receive your benefits?

PSRS offers six retirement plans for monthly benefits, as well as the option to take a partial lump-sum payment, if eligible. In making your selection, you should consider your age, finanical obligations, health, income from other sources, and your spouse's or dependent's needs.

• The Single Life Plan, Option 1
• The Joint-and-Survivor Plans, Options 2, 3 and 4
• The Term-Certain Plans, Options 5 and 6
• The Partial Lump Sum Option (PLSO)

Joint-and-Survivor Plan or Life Insurance: Which is Best for You?

Other items of interest:

Working After Service Retirement
Working After Disability Retirement
Health Insurance After Retirement
Social Security
Medicare

	Service Retirement Application Packet Please print and complete the Tax Withholding Authorization, Direct Deposit Authorization Form and the $5000 Death Benefit Form with this application. If you plan to elect PLSO at retirement, you must also file a PLSO Distribution Form with this application.
	Disability Retirement Application Packet Please print and complete the Tax Withholding Authorization and the Direct Deposit Authorization Form with this application.