Service Retirement and PLSO Eligibility Requirements

Normal Retirement

You are eligible for normal retirement:

  • At age 60 with at least five years of service
  • At any age with at least 30 years of service
  • When the sum of your age plus your years of service equals 80 or more (Rule of 80)

If you are under the age of 62 and have at least 30 years of service or qualify for Rule of 80, an additional .8% temporary benefit is added to your normal benefit until you reach minimum Social Security age, currently 62. At age 62, the temporary benefit stops, but the “normal benefit” portion of your benefit is permanent and continues for your lifetime.

Early Retirement

Early retirement options are available, but benefits under these options are reduced. You are eligible for early retirement:

  • At age 55 with at least five years of service
  • At any age with at least 25 years of service

The Partial Lump Sum Option (PLSO)

In exchange for reduced lifetime monthly benefits, eligible PEERS members can choose to receive a one-time Partial Lump Sum Option (PLSO) payment at retirement equal to 12, 24 or 36 times the Single Life monthly benefit.


You are eligible for PLSO if you:

  • Are at least age 63 with eight or more years of service
  • Have 33 or more years of service
  • Qualify for Rule of 86 (when your age plus your years of service equals 86 or more)

If you choose PLSO, you still must choose a benefit plan (Single Life, Joint-and-Survivor, or Term-Certain) for the payment of your monthly benefits. You cannot choose the PLSO and the Accelerated Payment Plan (APP).

Calculating Benefits

Your retirement benefit is based on a pre-determined formula that takes into consideration a benefit factor that is set by law, your salaries and your service with PEERS.

Benefit Calculations

Normal Retirement | Early Retirement Under 25-and-Out | Age-Reduced Early Retirement | PLSO


Use our online Benefit Estimate Calculator to generate estimates of your future retirement benefits using various projected retirement dates and salaries. You can also use the Purchase and Reinstatement Cost Calculator to find out how a service purchase or reinstatement can help you retire earlier or increase your benefits.

For an Accelerated Payment Plan (APP) benefit estimate, contact us.

You are always welcome to contact us for a Benefit Estimate.

Rule of 80

Rule of 80 is a benefit provision used to determine if you are eligible for Normal (Full) PEERS service retirement benefits. You have reached Rule of 80 when the combination of your age and your years of PEERS service equal 80 or more.