Active Teacher

Early Retirement

If you do not qualify for normal retirement, you may qualify for early retirement if you meet either of the following requirements:

  • 20 years of service (15 CT) minimum age 55
  • 25 years of service (20 CT) at any age

The amount of your early retirement benefit will be dependent upon:

  • The number of years and months your early retirement date precedes your normal retirement date (Age 60 with 20 CT or 35 years with 25 CT)
  • Whether you are retiring with less than 30 years of credited service (Table A) or with 30 years or more of credited service (Table B).

Early retirement benefits are calculated as follows:

Early Retirement % X Credited Service X FTE X Average Salary = Annual Benefit.

Table A - Less than 30 Years of Credited Service:

Years Away From Normal Retirement Early Retirement Percentage
0 2.00%
1 1.88%
2 1.76%
3 1.64%
4 1.52%
5 1.40%
6 1.32%
7 1.24%
8 1.16%
9 1.08%
10 1.00%

Table B - 30 Years of Credited Service or More:

Years Away From Normal Retirement Early Retirement Percentage
0 2.00%
1 1.94%
2 1.88%
3 1.82%
4 1.76%
5 1.70%

Early retirement examples:

Member E retires age 55 with 20 years of full-time CT service. The benefit calculation will be based on 5 years early (distance away from age 60) using Chart A.

20 years X 1.4% = 28% of average salary.

Member F retires age 55 with 30 years of full-time CT service. The benefit calculation will be based on 5 years early using Chart B.

30 years X 1.7% = 51% of average salary.

Member Z retires age 55 with 30 years of CT service at 90% FTE. The benefit calculation will be based on 5 years early using Chart B. It will also be necessary to apply the member's full-time equivalency to arrive at the final retirement percentage.

30 years X 1.7 % X .90 FTE = 45.9% of average salary.