Below you will find a stipulated agreement and question and answer leaflet regarding settlement of a prohibited practice charge filed by SEBAC regarding an issue that arose in August 2011. The issue was that some state employees were allowed to retire with 25 or more years of service, but they had not yet reached the age of 55.
- Click Here for the Prohibited Practice Agreement on the Pre-Age 55 Resolution
- Q&A on the Pre-Age 55 Resolution
Some basic facts:
- The class of members are those in State Employees Retirement System only.
- The member must have had 25 years of service as of September 1, 2011.
- The member must have not reached the age of 55 as of September 1, 2011.
- The member must have not retired since September 1, 2011 through an effective date of December 1, 2012.
- Members in a hazardous duty retirement classification will not be eligible because they can retire with 20 years of hazardous duty service.
- The agreement has strict timeframes.
- Some members may have aged into normal retirement, Tier 1 at 55, so that there will no actuarial reduction.
- Finally, this is not an early retirement incentive program, but a settlement of a prohibited practice charge. There is no early retirement incentive program.