When you can start
You qualify to receive a benefit (1) once you have at least 25 years of service credit, at any age; (2) on reaching your NRA, in service or not, with 5 or 10 years of service as applies to you; or (3) on reaching your NRA, if you were in service for at least one year immediately before retirement. Handbook p. 16, Qualifying to Receive a Service Retirement Benefit
The early cut, with 25 years
With at least 25 years of service credit you may retire before your NRA, with a permanent reduction based on how old you are relative to your NRA. NRA 60: approximately 2 1/4% for each full year younger than 60. NRA 62 or 65: 6% for each full year younger than your NRA. Handbook p. 17, Note
| Age | Age-60 group Check with MainePERS | Age-62 group | Age-65 group |
|---|---|---|---|
| 64 | none | none | 6% |
| 63 | none | none | 12% |
| 62 | none | none | 18% |
| 61 | none | 6% | 24% |
| 60 | none | 12% | 30% |
| 59 | about 2.25% | 18% | 36% |
| 58 | about 4.5% | 24% | 42% |
| 57 | about 6.75% | 30% | 48% |
| 56 | about 9% | 36% | 54% |
| 55 | about 11.25% | 42% | 60% |
Our table, from the handbook's rates: 6% for each year under 62 or 65, about 2.25% for each year under 60. Handbook p. 17, Note
Example (our numbers): 58, with 25 years and a $60,000 AFC
- Normal retirement age 60: about 4.5% less, $2,387.50 a month instead of $2,500.00.
- Normal retirement age 62: 24% less, $1,900.00 a month instead of $2,500.00.
- Normal retirement age 65: 42% less, $1,450.00 a month instead of $2,500.00.
How your age is counted
MainePERS estimates show a 'Rounded Age' at the effective date. In its sample, a member born 08/29/1960 retiring 07/1/2022 (61 years 10 months) is shown as age 62 and gets the unreduced Full Benefit in the age-62 plan. Ready to Retire (2023) slides 5 (Explanation of Estimate: Rounded Age; DOB 08/29/1960, effective 07/1/2022, age 62) and 9 (Full Benefit $2,126.25)
MainePERS's sample estimate shows a member 61 years 10 months old as age 62 with no reduction, so it rounds age. No source states the rule (for example, whether exactly 6 months rounds up).
What we do: We round to the nearest year, with 6 months or more rounding up.
What would settle it: A MainePERS rule or estimate for a member exactly 6 months short of a birthday.The handbook says 6% 'for each full year' under NRA; the statute says 6% 'for each year that the member's age precedes' NRA. MainePERS's sample estimate shows a rounded age (61 years 10 months shown as 62, no reduction). Our calculator rounds age to the nearest year and applies 6% per whole year.
Handbook p. 17; 5 M.R.S. §17852(3-A)(C), (3-B); Ready to Retire (2023) slides 5, 9The age-60 group's cut
For the age-60 group, the handbook gives "approximately 2 1/4%" a year. Maine law instead sets it from actuarial annuity tables that MainePERS doesn't publish, so the real cut can differ. 5 M.R.S. §17852(3); §17852(3-A)(C); §17852(3-B)
For members with NRA 60 the law uses actuarial annuity tables that MainePERS doesn't publish; the handbook only says about 2 1/4% a year.
What we do: We cut 2.25% for each year under 60 and label it approximate.
What would settle it: MainePERS's board-approved annuity tables, or an estimate for an NRA-60 member retiring early.The handbook gives the NRA-60 early reduction as 'approximately 2 1/4%' a year; the statute makes it the ratio of a life annuity due at 60 to one due at the retirement age, from board-approved tables that are not published. Our calculator uses 2.25% a year and labels it approximate.
Handbook p. 17; 5 M.R.S. §17852(3)(A), (B)Very early
At 6% a year, a teacher with 25 years who is far below 65 would lose most of the benefit. No source says what happens past 100%.
A member with 25 years who is far below NRA (for example 47 in the age-65 group) would lose more than 100% at 6% a year. No source covers this.
What we do: We show the cut as stated and never below $0; check with MainePERS.
What would settle it: A MainePERS estimate for a member with 25 years in their 40s.Your start date
- To retire you must first terminate all MainePERS-covered positions. The benefit is effective the first day of the month following termination unless you elect a later date. Handbook p. 14, Terminating Employment
- Payment begins on the first day of the month following the month in which the member becomes eligible. 5 M.R.S. §17804
- Retiring before 59 1/2 without a bona fide termination makes the benefit subject to the IRS 10% early distribution tax, even if not reduced for age. Handbook p. 14, Terminating Employment; 94-411 C.M.R. ch. 410, §1(3), §2(2)
Payment begins the first of the month after the month in which you become eligible. The sources don't say what happens when you reach normal retirement age on the 1st of a month.
What we do: We read 'following' strictly: reaching your NRA on June 1 means a July 1 start.
What would settle it: A MainePERS estimate for a member born on the 1st of a month.From the sources
- You can start a benefit once you have 25 years of service at any age, or at your normal retirement age (60, 62 or 65) with 5 years of service, or at your normal retirement age if you worked at least a year right before retiring.Handbook p. 16, Qualifying to Receive a Service Retirement Benefit
- To retire you must first leave all MainePERS-covered jobs. Your benefit starts the first day of the month after you leave, unless you choose a later date. Benefits don't start automatically; you must apply.Handbook p. 14, Terminating Employment; Choosing a Benefit Payment Option (3/25) p. 1
- Ask MainePERS for an estimate 6 to 12 months before you plan to retire. MainePERS prefers your application two to three months before your retirement date.Handbook p. 18; Choosing a Benefit Payment Option (3/25) p. 1
- With at least 25 years you can retire before your normal retirement age, with a permanent cut. If your normal retirement age is 62 or 65, the cut is 6% for each full year you are younger. If it is 60, it is about 2 1/4% a year.Handbook p. 17, Note
- Without 25 years you can't retire early: you wait until your normal retirement age.Handbook p. 16; 5 M.R.S. §17851(3)
- Check with MainePERSMainePERS rounds your age on your retirement date. In its sample estimate, a teacher who was 61 years 10 months old was treated as 62 and got the full, unreduced benefit in the age-62 plan.Ready to Retire (2023) slides 5, 9
- Check with MainePERSFor the age-60 group, the law sets the early cut from actuarial tables, not a flat rate. The 2 1/4% a year in the handbook is an approximation.5 M.R.S. §17852(3)(A)-(B); Handbook p. 17
Questions
Can I retire early from MainePERS without 25 years?
No. With fewer than 25 years of service there is no early retirement: you start at your normal retirement age (60, 62 or 65).
How much does retiring early cost?
With 25 years: 6% for each year you're under 62 or 65, or about 2.25% a year under 60. The cut is for life.
Is my age rounded?
MainePERS's sample estimate shows a teacher 61 years 10 months old counted as 62, with no cut. We round to the nearest year; check with MainePERS how it rounds yours.
When does my benefit start?
To retire you must first terminate all MainePERS-covered positions. The benefit is effective the first day of the month following termination unless you elect a later date. Payment begins on the first day of the month following the month in which the member becomes eligible.
Source: MainePERS Benefits for Teachers: Teacher Member Handbook, 2026, pp. 14, 15, 16, 17, 18. Also: Ready to Retire (2023); Choosing a Benefit Payment Option (3/25); 5 M.R.S. §§ 17804, 17851, 17852; MainePERS rule 94-411 C.M.R. ch. 410. Last reviewed .