Navigate:

What is meant by "Normal Retirement Age"? What is meant by "Earliest Retirement Age"?

The normal retirement age of an employee is the age, based upon the terms of the plan, at which such employee could retire and begin receiving an unreduced benefit based upon the years of service earned by the employee as of the cut-off date. Normal retirement age may vary from plan to plan. Further, some states prefer that the employee’s earliest retirement age be used in the analysis of present value. An employee’s earliest retirement age is the earliest age at which the employee can retire and receive a reduced benefit. This age may also vary from plan to plan.