Service Retirement and PLSO Eligibility Requirements
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)
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 PSRS 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).
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 PSRS.
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.
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) PSRS service retirement benefits. You have reached Rule of 80 when the combination of your age and your years of PSRS service equal 80 or more.×