Earliest retirement age
- • earliest retirement date
(1) Except as provided in this section, earliest retirement age for a member of the pension program is 55 years of age.
(2) Earliest retirement age for a member of the pension program who retires from service as a police officer or firefighter is 50 years of age if the member has held a position as a police officer or firefighter continuously for a period of not less than five years immediately before the effective date of retirement. Earliest retirement date for a member described in this subsection is not later than the date the member reaches 55 years of age.
(3) If a member of the pension program has 25 years or more of retirement credit as a telecommunicator, as defined in ORS 181A.355 (Definitions for ORS 181A.355 to 181A.670), earliest retirement age for the member is 55 years of age or the age of the member when the member acquires a total of 25 years or more of retirement credit as a telecommunicator, whichever occurs first. A member who retires under this subsection before attaining the age of 55 shall not receive a cost-of-living adjustment under ORS 238A.210 (Cost-of-living adjustment) until the member attains the age of 55.
(4) A member of the pension program who has reached earliest retirement age may retire on an early retirement date that is the first day of any month on or after the member has reached earliest retirement age. [2003 c.733 §16; 2005 c.332 §13; 2007 c.404 §2; 2007 c.769 §2]
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