- You can retire with a full (unreduced) benefit at 65 with at least 5 years of service.Member Handbook (2019), p. 23; PERSI ACFR 2024 Summary of Plan Provisions, p. 8
- You can also retire unreduced before 65 under the Rule of 90: when your age plus your service add up to 90, you are at least 55 and you are vested. PERSI counts both in months, so each month you keep working adds two months toward 90.Member Handbook (2019), pp. 23-24; Early Retirement brochure (01/14), p. 4
- Benefits start on the first day of the month after the month you reach the age. If you turn 55 on May 15, you can retire June 1.Member Handbook (2019), p. 23
- You can retire early from 55 with 5 years of service. The benefit is reduced for the rest of your life.Member Handbook (2019), p. 23; Early Retirement brochure (01/14), p. 2
- The reduction is 3% for each of the first 5 years and 5.75% for each year after that, prorated by month. It is based on whichever is smaller: the time until you turn 65, or the time you are short of the Rule of 90. Retiring 8 years early cuts the benefit by 32.25%: $1,000 becomes $677.50.Member Handbook (2019), p. 25
- Example from PERSI: at 60 with 28 years of service you are 2 points short of 90, so the reduction is 6%. At 60 with 20 years you are 5 years from 65, so the reduction is 15%. At 60 with 30 years you meet the Rule of 90 and there is no reduction.Early Retirement brochure (01/14), pp. 3-4
How the cut is figured
- Count the time from your start date to 65.
- Count how far you are from the Rule of 90. Each month you're short is a month of age plus a month of service, so a 2-point gap is 2 years, not 1.
- Use the smaller one. The first 5 years cost 3% each (0.25% a month); years 6 to 10 cost 5.75% each.
PERSI's examples
| Who | To 65 | Short of 90 | Cut |
|---|---|---|---|
| Kathyage 60, 28 years | 5 years | 2 years | 6% |
| Paulage 60, 20 years | 5 years | 10 years | 15% |
| Maryage 60, 30 years | 5 years | none | none |
Retiring 8 years early cuts 32.25%: a $1,000 benefit becomes $677.50. Retiring a year and a half early cuts 4.5%. Member Handbook (2019), p. 25, reduction table for DLC on or after Oct. 1, 1994
Age 55 years with 319 months (26 years 7 months) is 8 years 5 months short of 90 and 10 years from 65. The smaller gap gives a factor of 0.654: $2,064.92 × 0.654 = $1,350.46 a month. PERSI shows $1,350.46.
Member Handbook (2019), p. 29, sample retirement estimate (form RS120)Cut by whole years early
| Years early | Cut | Factor |
|---|---|---|
| 1 | 3% | 0.970 |
| 2 | 6% | 0.940 |
| 3 | 9% | 0.910 |
| 4 | 12% | 0.880 |
| 5 | 15% | 0.850 |
| 6 | 20.75% | 0.792 |
| 7 | 26.5% | 0.735 |
| 8 | 32.25% | 0.677 |
| 9 | 38% | 0.620 |
| 10 | 43.75% | 0.562 |
The handbook p. 25 prints 32.25% for 8 years early ($1,000 becomes $677.50); former rule 544 Table A prints .677 for 8 years 0 months (and .792 for 6 years, .562 for 10 years, each 0.0005 below the exact percent). PERSI's own estimate on the handbook p. 29 uses the table factor (.654), so the engine uses the table.
Member Handbook (2019), p. 25; PERSI's former rule 544 Table AStarting at each age
Our engine's illustration: 25 years of service (held fixed) on $5,000 a month, born March 1966. Check with PERSI
| Age | Cut | A month |
|---|---|---|
| 55 | 43.8% | $1,405 |
| 56 | 38% | $1,550 |
| 57 | 32.3% | $1,693 |
| 58 | 26.5% | $1,838 |
| 59 | 20.8% | $1,980 |
| 60 | 15% | $2,125 |
| 61 | 12% | $2,200 |
| 62 | 9% | $2,275 |
| 63 | 6% | $2,350 |
| 64 | 3% | $2,425 |
| 65 | none | $2,500 |
The month-by-month factors
The share of your full benefit you keep, by years and months early (the smaller gap). From PERSI's former rule 544, Table A, for a last contribution on or after October 1, 1994. PERSI's former rule 544 Table A, page 4 (DLC on or after Oct. 1, 1994), Idaho Administrative Bulletin Vol. 23-11 (Nov. 1, 2023), Docket 59-0101-2301
| Years | +0 mo | +1 mo | +2 mo | +3 mo | +4 mo | +5 mo |
|---|---|---|---|---|---|---|
| 0 | 1.000 | .998 | .995 | .993 | .990 | .988 |
| 1 | .970 | .968 | .965 | .963 | .960 | .958 |
| 2 | .940 | .938 | .935 | .933 | .930 | .928 |
| 3 | .910 | .908 | .905 | .903 | .900 | .898 |
| 4 | .880 | .878 | .875 | .873 | .870 | .868 |
| 5 | .850 | .845 | .840 | .836 | .831 | .826 |
| 6 | .792 | .788 | .783 | .778 | .773 | .769 |
| 7 | .735 | .730 | .725 | .721 | .716 | .711 |
| 8 | .677 | .673 | .668 | .663 | .658 | .654 |
| 9 | .620 | .615 | .610 | .606 | .601 | .596 |
| 10 | .562 |
| Years | +6 mo | +7 mo | +8 mo | +9 mo | +10 mo | +11 mo |
|---|---|---|---|---|---|---|
| 0 | .985 | .983 | .980 | .978 | .975 | .973 |
| 1 | .955 | .953 | .950 | .948 | .945 | .943 |
| 2 | .925 | .923 | .920 | .918 | .915 | .913 |
| 3 | .895 | .893 | .890 | .888 | .885 | .883 |
| 4 | .865 | .863 | .860 | .858 | .855 | .853 |
| 5 | .821 | .816 | .812 | .807 | .802 | .797 |
| 6 | .764 | .759 | .754 | .749 | .745 | .740 |
| 7 | .706 | .701 | .697 | .692 | .687 | .682 |
| 8 | .649 | .644 | .639 | .634 | .630 | .625 |
| 9 | .591 | .586 | .582 | .577 | .572 | .567 |
| 10 |
Docket 59-0101-2301 deleted rule 544 (Tables A, B and C) effective July 1, 2024, and the current IDAPA rules print no factors, yet HB says factors are set by rule. The engine uses the deleted tables; PERSI may now use different factors.
We use the factor tables from PERSI's former rule 544, which reproduce PERSI's own sample estimates. Every option amount and early cut on this site carries this label.
What would settle it: A current PERSI factor table or a 2025-2026 RS120 estimate from PERSI.
The engine counts age to the end of the month before retirement (derived from two worked examples). No source states the method in words.
We count your age in whole months up to the end of the month before your benefits start, so the month you reach an age counts as reached.
What would settle it: PERSI's written method, or an estimate for a member born on the 1st of a month.
The handbook p. 24's Doug example says 'Rule of 90' where the arithmetic is the Rule of 80 (police).
Member Handbook (2019), p. 24See what one more year is worth in One more year?, or try your dates in the calculator.
Questions
Can I retire early from PERSI?
Yes, from 55 with at least 60 months of service. Your benefit starts the 1st of the month after the month you turn 55.
How much is the PERSI early retirement reduction?
3% a year for the first 5 years and 5.75% a year for years 6 to 10, prorated by month, counted to 65 or to the Rule of 90, whichever is closer.
What is the Rule of 90?
If your age plus your service add up to 90 or more, you're at least 55 and you're vested, your PERSI benefit has no early cut. PERSI counts both in months.
Source: PERSI Member Handbook, Handbook revision July 2019, pp. 23-24, 25, 29. Also: Early Retirement brochure (01/14); PERSI ACFR (FY2024); PERSI Working After Retirement flyer and page; Idaho Administrative Bulletin, Nov. 1, 2023 (former rule 544); Idaho Code §§ 59-1302, 59-1346 (as PERSI quotes it). Last reviewed .