Health Care Reform: Safe Harbor for Determining Full-Time Employee Status. New guidance has been issued on two requirements under the Patient Protection and Affordable Care Act (the Act) that will become effective in 2014.
Early retirement benefits will continue to be available at age 62, but they will be reduced more. When the full-benefit age reaches 67, benefits taken at age 62 will be reduced to 70 percent of the full benefit and benefits first taken at age 65 will be reduced to 86.7 percent of the full benefit.
Depending on your year of birth, you will be eligible to retire at age 55-57 with 30 years service (or 10 years service with a reduced annuity); or age 60 with 20 years service; or age 62 with 5 years service.