JRS Service Accrual
What is the JRS vesting provision?
Five paid up years of membership service.
How are benefits computed?
Each year (or part year) of service is calculated at 5% of the current base salary of the public office you retire from. The maximum benefit payable is 75% of base salary.
When are benefits payable?
Full unreduced benefits are payable at age 60; however, actuarially reduced early benefits are payable upon attaining age 55 or at any age if you have accrued at least 20 years of credited service. The reduction is based on the number of years and months prior to age 60 at which you commence the benefit. If you are contemplating early retirement, contact the Division of Retirement and Benefits for a projection of your benefits.