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GASB 68 Information by Plan:

GASB 67 and 68 Reporting – Actuarial Information
GASB 67 and 68 Reporting – Actuarial Information
Employer Materials Table of Contents
Employer Materials Table of Contents

Retirement eligibility schedule rules

Eligibility based on the Rule of 95

The Rule of 95 is an alternative full benefit retirement eligibility date to allow members to retire earlier than their schedule-based eligibility date. Under the Rule of 95, members can retire when their age plus their years of service equal 95 provided that they are at least 62 years old.

For example, a member who is 62 years old could retire with 33 years of service rather than waiting until their schedule-based eligibility date (62 + 33 = 95).

How to determine your schedule

You can verify your schedule on the ERSRI Member Portal. Simply login, click “View My Pension Profile,” then scroll down to the Membership Information Panel or click the “Employees’ Retirement System” hyperlink. Your schedule is listed in the field entitled “Group.”

Pension Profile Tools

Request a Retirement Planning Appointment

Please complete and submit this form and we will be in touch with you soon. Note: Fields with a asterisk are required.

Spouse or Other Primary Beneficiary Name *

Do you plan to continue working for a State / Municipal employer until your anticipated retirement date?
Specific information you need from ERSRI
Special Circumstances (check all that apply)
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How do I purchase service credit?

There are various types of service credit you may be eligible to purchase, along with a request form for each type. Once you have completed the appropriate form and have had it certified by your employer, you can submit it to ERSRI for processing. You may pay either by lump sum, an installment agreement via payroll deduction, or a rollover of pre-tax dollars from a qualified plan (i.e. a 401(k)). Once you have selected a payment method, you may not change it, as required by federal law. Use the section below for the more common types of credit as well as the full list.

Listed here are a few of the more common types of credit you may be able to purchase.

For a full list of the various types of service credits and the request forms for each, use the link below.

Optional Service Credit Forms

To read more about the different types of service credits that may be purchased, see pages 9-11 in the Member Handbook.

How to Schedule Your Counseling Session

To schedule your counseling session six to twelve months before retirement, please call ERSRI at (401) 462-7600.

ERSRI also provides individual counseling to members planning to retire within the next 3 years. Use the link below for more information and to initiate your counseling request.

Retirement Counseling Request Form

Deferred Retirement

In some cases, your eligibility date may change if you leave employment prior to reaching your full retirement date. However, your accrued benefit will be the same as it was the day you terminated employment. Depending on several factors, including the amount of service you earned before terminating your employment, you may be eligible to initiate your retirement benefit prior to reaching your full eligibility date by electing to retire under a Transition Rule. However, exercising early retirement will result in your receiving a reduced benefit.

It is important to know that after leaving active employment, ERSRI will not automatically begin sending your pension benefit to you once you have reached eligibility. It is your responsibility to notify ERSRI of your decision to retire and to submit a service retirement application approximately three to six months before you are eligible to begin collecting your benefit.

If you do not apply for your pension benefit when you first become eligible, you will not receive retroactive benefits to the date when you were initially eligible. Deferred retirement benefits are payable beginning on your eligibility date or on the first of the month in which your completed application is received by ERSRI, whichever is later.

To qualify for a deferred retirement benefit, you must leave your money on deposit with ERSRI when you terminate employment.

QDRO Model Multiple Beneficiaries

The QDRO Model for multiple beneficiaries is for active state employees or teacher members only.

QDRO Model Multiple Beneficiaries

Use this model if you are an active state employee or teacher member and will be naming your ex-spouse and another beneficiary as equal benefit recipients under Option 1 or 2 either before or after retirement. Please contact our office regarding the election of Multiple Beneficiaries as there are restrictions associated with this election.

Model QDRO –Multiple Beneficiaries
Model QDRO –Multiple Beneficiaries

QDRO Model Multiple Beneficiaries

The QDRO Model for multiple beneficiaries is for active state employees or teacher members only.

QDRO Model - Option 2

The QDRO models listed below are for retirees who selected Option 2 form of payment.

QDRO Model Option 2 State and Teachers

Use this model if you are a retired state employee or retired teacher who selected the Option 2 form of payment, or if you are an active state employee or teacher and at the time of your retirement you will be required to elect the Joint and Survivor Option 2 form of payment and name your ex-spouse as beneficiary.

Model QDRO – State and Teachers – Option 2
Model QDRO – State and Teachers – Option 2
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