Retirement Information

	CONDITIONS:
FEATURE:	BASE PLAN - FIRE	BASE PLAN - POLICE	2ND TIER - FIRE	2ND TIER - POLICE
Participation	Automatic and mandatory upon certification Probation period included
Contribution	In most cases, automatic deduction from paycheck
	15.28% of pay, excluding allowances	13.89% of pay, excluding allowances	15.28% of pay, excluding allowances	13.89% of pay, excluding allowances
Final Wages	The greater of the highest regular monthly compensation on which a Member made contributions to the Fund within that twelve (12) month period preceding June 30, 2007, or the average of the regular monthly compensation during the consecutive thirty-six (36) month period preceding retirement that produces the highest average.		The average of the regular monthly compensation during the consecutive thirty-six (36) month period preceding retirement that produces the highest average.
	The regular monthly compensation includes base salary plus longevity plus all incentive pays and excludes overtime pay and lump-sum payments for accrued vacation, holiday, birthday holiday and sick leave.
Service Retirement	At least 45 years of age and 20 years of Vesting Service Calculation: Final Wages x 2.75% x Credited Service Maximum: 28 years of Credited Service, 77% of Final Wages		At least 50 years of age and 25 years of Vesting Service Calculation: Final Wages x 2.50% x Credited Service Maximum: None
Early Retirement	Not yet 45 years of age and at least 20 years of Vesting Service Reduced Service Retirement from age 45 - Early Retirement Reduction Factor		Option not applicable
Back DROP	At least 50 years of age and 20.5 years of Credited Service May Back DROP a period of 6 to 36 months with at least 20 years of Credited Service Remaining		At least 50 years of age and 25.5 years of Credited Service May Back DROP a period of 6 to 36 months with at least 25 years of Credited Service Remaining
Disability Retirement	Disability sustained in the line of duty or through no fault of your own Disability must be total and permanent Unreduced Service Retirement, not less than 50% of Final Wages
Deferred Retirement	At least 10 years of Vesting Service Unreduced Service Retirement Payments begin at age 50 No cost of living adjustment		At least 10 years of Vesting Service Unreduced Service Retirement Payments begin at age 50
Cost of Living Adjustment (COLA)	Begins the earlier of at least age 60 or 5 years after Retirement and thereafter, each and every January 1st 3% Compounded Annually Applicable to all retirement types except Deferred	Begins the earlier of at least age 60 or 2 years after Retirement and thereafter, each and every January 1st 3% Compounded Annually Applicable to all retirement types except Deferred	Option not applicable
Refund of Contributions	Upon separation of employment, must have at least 5 years of Vesting Service Refund of employee contributions only, without interest or employer portion Forfeit rights to a Pension Benefit

In the event of your death, the Fund may pay a benefit to your dependents, beneficiary, or estate. If you are eligible and have a qualified spouse or children, they will receive regular pension payments as long as they remain alive and qualified. A qualified spouse and child are defined as:

    Qualified Spouse:
        - Has not remarried,
               AND
        - Married you before your retirement, or
        - Married you after your retirement, but at least two years before your death

    Qualified Child:
        - Is not married,
               AND
        - Is less than 19 years of age, or
        - Is a full-time student less than 23 years of age, or
        - Is physically or mentally disabled.

        If a child is at least 19 years old and is non-self-supporting due to drug or alcohol use, he/she
        is not considered qualified, regardless of whether or not he/she is a full-time student, or is
        disabled.

In the event a deceased Member, not survived by a qualified spouse or children, dies from injuries received or disease contracted while in the line of duty, and is survived by a father, mother, brother or sister wholly dependent on the Member, such beneficiary shall receive the death benefit provided for under Section 10 of Article 6243b, V.A.T.S. If you do not have a qualified spouse, children or dependent, a lump-sum distribution will be paid to any beneficiary that you have designated in writing, or to your estate, provided you had at least five years of Vested Service at the time of your death. The lump-sum amount will include only your employee contributions (without interest) to the Fund.

The amount of the death benefit payable depends on the Member's eligibility at the time of death. For more information, please contact the Fund's Benefits Specialist.

NOTE: IN THE EVENT OF ANY CONFLICT BETWEEN THE ABOVEMENTIONED PROVISIONS AND ACTUAL PLAN PROVISIONS, THE ACTUAL PROVISIONS OF THE PLAN, AND NOT THE ABOVE SUMMARY WILL BE FOLLOWED.

Would you like to calculate the approximate value of your retirement benefit? Then, please click on the appropriate link below to access the on-line Service Retirement Benefit Calculator.

Base Plan Member Second Tier Member

The on-line benefit calculators are provided for illustration purposes only and based on the information you enter. It is not an official means of determining the benefit that may be payable. Your actual benefit calculation and the terms of such benefit are subject to the Plan Document governing the Fund. For a more accurate estimate, please contact the Fund's Benefits Specialist.