When you can retire
| ACPS | RCPB | |
|---|---|---|
| Full pension | 62 with 5 years, or 30 years at any age | 65 with 10 years, or age + service = 90 |
| Also full, if you retire straight from work | 63 with 4; 64 with 3; 65 with 2 years | — |
| Early, reduced | 55 with 15 years | 60 with 15 years |
| Cut | 0.5% a month before 62, up to 42% | 0.5% a month before 65, up to 30% |
Only eligibility service counts toward these. Unused sick leave doesn't. ACPS Handbook p. 12, Unused Sick Leave
The cut by age
These rows take each handbook's own early example (20 years, $72,000 average pay) and move it to other ages, starting the pension on a birthday.
| Age | Months early | Cut | Monthly |
|---|---|---|---|
| 55 | 84 | 42% | $1,211.04 |
| 56 | 72 | 36% | $1,336.32 |
| 57 | 60 | 30% | $1,461.60 |
| 58 | 48 | 24% | $1,586.88 |
| 59 | 36 | 18% | $1,712.16 |
| 60 | 24 | 12% | $1,837.44 |
| 61 | 12 | 6% | $1,962.72 |
| 62 | 0 | none | $2,088 |
| Age | Months early | Cut | Monthly |
|---|---|---|---|
| 60 | 60 | 30% | $1,260 |
| 61 | 48 | 24% | $1,368 |
| 62 | 36 | 18% | $1,476 |
| 63 | 24 | 12% | $1,584 |
| 64 | 12 | 6% | $1,692 |
| 65 | 0 | none | $1,800 |
Cut = months early × 0.5%, never more than the maximum.
The handbooks' worked examples
We count a partial month as a full month, which can make our estimate slightly lower.
What we use: Partial month counts as a full month (ceiling).
We give the exact date you first qualify; SRA may require a first-of-month date.
What we use: Exact date for active members; first of the month after the birthday for ACPS early vested.
Ways to shrink the cut
- Work a little longer. Each year takes 6% off the cut and adds a year of service. One more year?
- RCPB: watch the Rule of 90. Each year of work adds 2 points (a year of age and a year of service).
- Look at service you can buy. Ask SRA how a purchase would count for you. Buying service
What the handbooks say
- ACPS: full (unreduced) retirement at age 62 with 5 years of eligibility service, or with 30 years at any age. If you retire straight from your job, you also qualify at 63 with 4 years, 64 with 3 years, or 65 or older with 2 years.ACPS Handbook p. 18, Service Retirement; SPP §23-401(a)
- RCPB: full retirement at age 65 with 10 years of eligibility service, or when your age plus eligibility service adds up to 90 (for example 57 with 33 years, 58 with 32, 60 with 30, or 63 with 27).RCPB Handbook p. 18, Service Retirement; Welcome PDF p. 1; SPP §23-401(f)
- Unused sick leave and other creditable-only credit never count toward when you can retire; eligibility is based on eligibility service.ACPS Handbook p. 12, Unused Sick Leave
- ACPS: early retirement from age 55 with at least 15 years of eligibility service. The benefit is cut 0.5% for each month you are under 62 (6% a year), up to 42%.ACPS Handbook p. 18, Early Service Retirement; ACFR p. 164
- RCPB: early retirement from age 60 with at least 15 years. The benefit is cut 0.5% for each month you are under 65 (6% a year), up to 30%.RCPB Handbook p. 18, Early Service; ACFR p. 164
- Example (ACPS): age 60 with 20 years and a $72,000 AFC gives $2,088 a month unreduced; 24 months early x 0.5% = 12%, so $1,837.44 a month.ACPS Handbook pp. 22-23, Example: Early Service Retirement
- Example (RCPB): age 62 with 20 years and a $72,000 AFC gives $1,800 a month unreduced; 36 months early = 18%, so $1,476 a month.RCPB Handbook p. 22, Example: Early Service Retirement
- Check with SRAThe handbooks count the reduction by months but only show whole-month examples; how a partial month is counted isn't stated.ACPS Handbook p. 22; SPP §23-402(c)No example with a partial month; our calculator counts a partial month as a full one.
Questions
How early can I retire from the TPS?
ACPS: at 55 with 15 years. RCPB: at 60 with 15 years. Both are reduced for life.
How big is the cut?
0.5% for each month before your 62th birthday (ACPS) or 65th birthday (RCPB). That's 6% a year. The most it can be is 42% (ACPS) or 30% (RCPB).
Is the cut permanent?
Yes. It stays for life, even after you reach 62 or 65.
How do I avoid it?
Work until you qualify for a full pension: ACPS 62 with 5 years or 30 years at any age; RCPB 65 with 10 years or the Rule of 90.
Source: SRPS Benefits Handbooks: Teachers' Pension System (Alternate Contributory Pension Selection; Reformed Contributory Pension Benefit), Revised April 2021, ACPS Handbook pp. 12, 18, 22, 23; RCPB Handbook pp. 18, 21, 22; ACFR FY2025 p. 164; Welcome to TPS PDF p. 1; SPP §§ 23-401, 23-402. Last reviewed .