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Retirement: Vested
If you leave employment with the City after completing 5 years of service, but before normal retirement age, and leave your money in the GERS Fund, you have a fully vested deferred retirement benefit. You will receive retirement benefits beginning the first of the month following your 55th birthday and continuing for your lifetime. At your death, if you have not received benefits equal to the amount of money that you contributed to the Plan, plus interest, the balance will be paid to your beneficiary.
If you have completed 15 or more years of service at the time you leave the employ of the City, you may begin collecting your vested benefits in the form of a reduced early retirement pension when you reach age 50.
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At any time before collecting retirement benefits, a terminated vested member can choose to withdraw their contributions plus interest. If you choose to withdraw your contributions, you forfeit the rights to any future benefits.
Should you die after you leave employment with the City, but before you begin collecting benefits, your contributions and accrued interest would be paid to your designated beneficiary.
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Optional Retirement Benefits
Early Retirement
Vested Retirement
Request A Quote
We will do the math for you...just click above, fill out the request form, and we'll get you a retirement benefit estimate within 2 business days.
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