Lifetime monthly service retirement benefits are available to members who properly terminate PSRS-covered employment and meet minimum service and age requirements. Monthly retirement benefits are payable for life without interruption unless you return to full-time, PSRS-covered employment, or work at a PSRS-covered employer on a temporary-substitute or part-time basis in excess of the limits explained on this website and in your Member Handbook.
You must apply for service retirement benefits by filing the Service Retirement Application prior to your PSRS retirement date.
You must meet eligibility requirements to receive service retirement benefits.
Types of Service Retirement
- Normal retirement (full benefits)
- Early retirement calculated with a modified or lower benefit formula (25-and-Out)
- Early retirement calculated using an age-reduction factor (Age-Reduced)
If you are considering retirement due to health reasons, you may be eligible for PSRS disability retirement.
The Partial Lump Sum Option (PLSO)
If you work three years beyond normal retirement, you have the option to choose a one-time, Partial Lump Sum Option (PLSO) payment at retirement with reduced lifetime monthly benefits.