State employees, teachers, and municipal employees who were not eligible to retire as of June 30, 2012 have the option of retiring under a transition rule if they meet all the applicable criteria. If you are considering retiring under one of the transition rules, we strongly encourage you to contact ERSRI and speak to a Retirement Counselor to verify your eligibility for early retirement before terminating your employment.

• Transition Rule 1: If you have 20 or more years of service and are within 5 years of eligibility from your full benefit retirement date, or 5 years from your full retirement age, you may retire early with a permanent reduction in your benefit amount. Note: For Correctional Officers and BHDDH nurses Transition Rule 1 would only be applicable in cases where they are retiring under state employee retirement eligibility rules.

  Early Retirement Reduction
  Year(s) from full retirement	Percent Reduction	Cumulative Reduction
  1	9%	9%
  2	8%	17%
  3	7%	24%
  4	7%	31%
  5	7%	38%

• Transition Rule 2: If you earned at least 10 years of contributory service as of June 30, 2012, this rule provides you an additional option for an earlier retirement date. This rule does not allow you to retire earlier than the eligibility date determined under the laws in effect on June 30, 2012. An employee who elects this option will receive a Defined Benefit Plan benefit which is calculated using their service credit and highest average compensation as of June 30, 2012. If you elect this option, you will not receive retirement credit for any service and compensation earned after July 1, 2012.

• Transition Rule 3 (Police and Fire MERS only): If you earned at least 10 years of contributory service as of June 30, 2012 AND you were age 45 prior to 7/1/2012 AND you would have been eligible to retire at or prior to age 52 in accordance with the rules in effect prior to 7/1/2012, this rule provides you an additional option for an earlier retirement date without a benefit reduction. If you meet the criteria, you are eligible to retire at age 52.