When can I retire?

Eligibility

You are eligible to begin drawing your unreduced defined benefit if you are at least age 65 and have:

at least 10 service credit years; or
five service credit years, including 12 service credit months that were earned after age 44; or
five service credit years that were earned under PERS Plan 2 and transferred to SERS Plan 3 before September 1, 2000.

You may retire with a reduced benefit if you are at least age 55 and have:

at least 10 years of service credit (your benefit will be “actuarially reduced”); or
30 or more service credit years (your benefit will be reduced by 3 percent per year for each year before age 65).

See How does retirement before age 65 affect my benefit?

Forfeiting sick leave to retire earlier

School district employees may forfeit up to 45 days of accumulated sick leave in order to retire earlier. For example, if you have 45 days of sick leave and are age 65 or older, you may retire with four years and 10 months of service credit. Cashed out sick leave may not be used for this purpose.

Sick leave cannot be used to meet the age or service credit requirements in determining the amount of your retirement benefit. If you plan to use sick leave to advance your retirement date, contact DRS before separating from employment.