Tier:
Tier 1
Eligible Members:
Hired before 12/31/2002
Vesting:
5 YCS
Age/YCS:
62/5
Benefit Formula:
Greater of: Years of Credited Service x 2.25% x Final Average Salary or Years of Credited Service after age 45 x 3.33% x Final Average Salary
Final Average Salary:
Final 36 months
Automatic COLA:
Equal to Social Security COLA, max 3%
Benefit Tier Options:
None
Social Security:
Yes