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Last Updated: 03/22/2010

Home >> Judges Plan >> Early Retirement

Early Retirement

The earliest you can retire is age 60. If you retire before age 65, your monthly benefits are reduced by 6 percent for each year you retire before age 65. The chart below shows the early retirement reduction:

Age at Retirement	Reduction Percentage
64	6%
63	12%
62	18%
61	24%
60	30%

The example below shows a judge retiring at age 63:

Retirement Calculation Example
Judge's age	63 years
Years of service	23 years
Service prior to 7/1/1980	2 years 6 months
Service credit percent	2.5 years x 2.7% = 6.75%
Service after to 7/1/1980	20 years 6 months
Service credit percent	20.5 years x 3.2% = 65.60%
Total service credit percent	6.75% + 65.60% = 72.35%
Average monthly salary	$ 8,333
Percent multiplied by monthly salary	72.35% x $ 8,333 = $ 6,028
Early retirement deduction	$ 6,028 x 12% = $723
Monthly Retirement Benefit	$ 5,305