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55 2 percent @

R E T I R E M E N T F O RMU L A S A N D B E N E F I T F A C TO R S 2% at 55 Benefit Factors The chart below shows how the benefit factor increases for each quarter year of age from 50 to 55, and the required years of service to reach your maximum percentage allowed by law.

2% at 55 Benefit Formula Minimum Age for Retirement 50

Age at Retirement

Benefit Factor

Years Needed to Attain 90%

50

1.426%

63.114

50 ¼ 50 ½ 50 ¾

1.450%

62.069

1.474%

61.059

1.498%

60.080

51

1.522%

59.133

51 ¼

1.550%

58.065

51½

1.576%

57.107

51 ¾

1.602%

56.180

52

1.628%

55.283

52 ¼ 52 ½ 52 ¾

1.656%

54.348

1.686%

53.381

1.714%

52.509

53

1.742%

51.665

53 ¼ 53 ½ 53 ¾

1.772%

50.790

1.804%

49.890

1.834%

49.074

54

1.866%

48.232

54 ¼ 54 ½ 54 ¾

1.900%

47.369

1.932%

46.584

1.966%

45.779

55 or older

2.000%

45.000

34

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