An employee will become vested in the FRS Pension Plan upon completing six years of creditable service. The pension benefit provides a fixed benefit based on a formula that factors in your highest years of compensation and your years of creditable service. It also has an annual cost of living increase.

Requirements for Normal Retirement - To be eligible for normal retirement under the Pension Plan an employee must meet one of the following age and service requirements:

• Age 62 with 6 years of creditable service
• Any age with 30 years of creditable service
• Deferred Retirement Option Program (DROP) may be elected by those employees who qualify for normal retirement but wish to continue working for up to 5 more years.

Requirement for Early Retirement Under the FRS - You can retire any time after you are vested. The normal retirement benefit is reduced 5% for each year that the employee is under the normal retirement age of 62 and does not have 30 or more years of service.

For full details on the FRS pension plan, visit the website www.myfrs.com or the booklet FRS Today - Retirement Guide for the Regular Class .

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