Enrolled before July 1, 2011
Full at 62
or 30 years. Early from 42, −5% a year before 62.
Handbook (2026), p. 45, Normal Retirement; Seminar slides (Sept. 24, 2025), slide 8; F.S. 121.021(29)(a)1.On or after
Full at 65
or 33 years. Early from 45, −5% a year before 65.
Handbook (2026), p. 45, Normal Retirement; Seminar slides (Sept. 24, 2025), slide 8; F.S. 121.021(29)(a)2.Part years
5/12 of 1%
for each complete month early.
Handbook (2026), p. 46, Early Retirement; Pension Plan SPD (July 1, 2026), p. 4, Service Retirement; Seminar slides (Sept. 24, 2025), slide 31; F.S. 121.091(3)(a)1.The handbook's example
Retiring at 57: that's 5 years before 62, a 25% cut; or 8 years before 65, a 40% cut.
Handbook (2026), p. 46, Early RetirementWith our numbers, 20 years on a $50,000 AFC, enrolled before July 1, 2011: $1,333.33 a month before the cut, $1,000.00 after it. Load it
Enrolled on or after, with 13 years: $866.67 before, $520.00 after. Load it
The cut at each age
Our illustration: 20 years of service on a $50,000 AFC, retiring on the first of the birth month. Option 1.
| Before July 1, 2011: age | Cut | A month |
|---|---|---|
| 55 | 35% | $866.67 |
| 56 | 30% | $933.33 |
| 57 | 25% | $1,000.00 |
| 58 | 20% | $1,066.67 |
| 59 | 15% | $1,133.33 |
| 60 | 10% | $1,200.00 |
| 61 | 5% | $1,266.67 |
| 62 | none | $1,333.33 |
| On or after: age | Cut | A month |
|---|---|---|
| 55 | 50% | $400.00 |
| 57 | 40% | $480.00 |
| 59 | 30% | $560.00 |
| 61 | 20% | $640.00 |
| 63 | 10% | $720.00 |
| 65 | none | $800.00 |
The second table uses 12 years of service.
The SPD says early retirement may be taken after vesting and within 20 years of normal retirement age. The handbook and F.S. 121.021(30) give no minimum age. At 5% a year, a benefit 20 years early would be reduced 100%.
We follow the SPD: the earliest early-retirement date is 20 years before normal retirement age (42 or 45).
Pension Plan SPD (July 1, 2026), p. 4, Service Retirement; Handbook (2026), p. 46; F.S. 121.021(30)
Leaving early and waiting
A vested member who leaves can defer retirement to reduce or avoid the early cut; the benefit is figured on the age when payments begin. Handbook (2026), p. 27, After You Are Vested
The facts
- Enrolled before July 1, 2011: you qualify for normal retirement when you are vested and 62, or have 30 years of service at any age, or at the age after 62 when you become vested.Handbook (2026), p. 45, Normal Retirement
- Enrolled on or after July 1, 2011: vested and 65, or 33 years at any age, or the age after 65 when you become vested.Handbook (2026), p. 45, Normal Retirement
- If you reach normal retirement by age, the date is the first of the month you turn that age. By service, it is the first of the month after the month you reach the years.Seminar slides (Sept. 24, 2025), slide 8
- Your effective retirement date is always the first of a month. Apply before, or within 30 days after, you leave, and it is the first of the month after you terminate.Handbook (2026), p. 49, Effective Retirement Date
- You can apply no earlier than six months before your retirement date, through FRS Online or Form FR-11, with proof of age. Benefits are paid on the last workday of each month.Handbook (2026), p. 49, Application for Benefits
- The Division recommends asking for an official estimate within five years of your planned retirement date.Handbook (2026), p. 45, Estimate of Benefits
- If you are vested but have not reached your normal retirement date, you can retire early. Your benefit is reduced 5% for each year between your age at retirement and your normal retirement age (62 or 65).Handbook (2026), p. 46, Early Retirement
- Example: retiring at 57 is 5 years before 62, a 25% cut; or 8 years before 65, a 40% cut.Handbook (2026), p. 46, Early Retirement
- Part years count: the cut is a prorated share of 5% for part of a year (5/12 of 1% for each complete month).Seminar slides (Sept. 24, 2025), slide 31; F.S. 121.091(3)(a)
- Early retirement is available within 20 years of normal retirement age, so from 42 (enrolled before July 1, 2011) or 45 (on or after).Pension Plan SPD (July 1, 2026), p. 4, Service Retirement
- The cut is measured to your normal retirement age, not to the date you would reach 30 or 33 years.Handbook (2026), p. 46, Early Retirement
- If you leave after vesting, you can defer your retirement to a later age to shrink or avoid the cut; the benefit is figured on your age when payments begin.Handbook (2026), p. 27, After You Are Vested
Next: one more year or DROP.
Questions
Can I retire early from the FRS Pension Plan?
Yes, once you're vested (6 or 8 years). Your benefit is cut 5% for each year you're younger than 62 (enrolled before July 1, 2011) or 65 (on or after), for life.
How is a part year counted?
5/12 of 1% for each complete month.
How early can I go?
The SPD allows early retirement within 20 years of normal retirement age: from 42 or 45.
Does reaching 30 or 33 years remove the cut?
Yes: with 30 years (or 33) you reach normal retirement at any age. But if you retire before then, the cut is measured to your normal retirement age, not to the date you'd reach those years.
Source: FRS Pension Plan Member Handbook, 2026 Edition, pp. 27, 45, 46, 49. Also: Pension Plan SPD (July 1, 2026), p. 4; Seminar slides (Sept. 24, 2025), slides 8, 31; F.S. 121.021, 121.091. Last reviewed .