The rule
Reduced by an actuarial equivalent factor for each year of creditable service below 30 or each year of age below 65, whichever is less. Miss. Code Ann. § 25-11-111(f), (g) (H.B. 4073 (2026), § 18, pp. 69-70); Member Handbook (2024), pp. 25, 62 (Appendix F note); Mississippi PERS 2024 annual report, p. 102, Early Retirement
Tiers 1-3 have no reduced early retirement: the benefit starts unreduced at 25 years or at 60 and vested. Member Handbook (2024), p. 25, Retirement Tiers
Statute and Mississippi PERS publications say only 'an actuarial equivalent factor for each year of creditable service below 30 or each year of age below 65, whichever is less'. No Mississippi PERS source publishes the factor or table.
We show the unreduced amount and the number of reduction years, but no reduced dollar figure.
What would settle it: A Mississippi PERS Board-adopted Tier 4/5 early retirement factor table or a Mississippi PERS estimate for a Tier 4 member retiring at 60-64 with under 30 years.
Tier 4: 20 years on $60,000
The amounts below are the full benefit before the reduction, so the real check would be less. The years of reduction are the lesser of years short of 30 and years under 65.
| Retire at | Years of reduction | A month |
|---|---|---|
| 60 | 5 | up to $2,000Check with Mississippi PERS |
| 61 | 4 | up to $2,000Check with Mississippi PERS |
| 62 | 3 | up to $2,000Check with Mississippi PERS |
| 63 | 2 | up to $2,000Check with Mississippi PERS |
| 64 | 1 | up to $2,000Check with Mississippi PERS |
| 65 | none | $2,000 |
Our engine on the statute's rule. At 60 with 20 years, the member is 10 years short of 30 but only 5 years short of 65, so the reduction counts 5 years.
When service is the smaller gap: at 61 with 27 years, the member is 3 years short of 30 and 4 years short of 65, so the reduction counts 3 years (up to $2,700 a month before it).
The statute counts 'each year' below 30 years or below 65; it doesn't say whether partial years count.
We show the exact (fractional) shortfall in years for both measures and use the smaller.
What would settle it: A Mississippi PERS regulation or estimate showing a member with, e.g., 27.5 years at 61 years 6 months.
Tier 5
The same rule from age 62: 20 years at 62 counts 3 years of reduction, on a pension of up to $1,000 a month. See the Hybrid Plan. Hybrid Plan Handbook (2026), pp. 10-13, 17-18; Miss. Code Ann. § 25-11-111(a)(3), (g) (H.B. 4073 (2026), § 18, pp. 65, 69-70); Retirement Tiers Overview; Mississippi PERS Board Regulations 48 § 101 and 64 § 101
Leaving before you can retire
A vested member who leaves before eligibility and does not take a refund can start the benefit at 60 (Tiers 1-4) or 62 (Tier 5) on the amount earned when they left. Mississippi PERS Board Regulation 28 (amended March 1, 2026), §§ 101-104; Miss. Code Ann. § 25-11-111(b) (H.B. 4073 (2026), § 18, pp. 65-66)
- Tiers 1-3 have no reduced early retirement. Tier 4 members can retire at 60-64 with less than 30 years, and Tier 5 members at 62-64, with a reduced benefit.Member Handbook (2024), p. 25; Hybrid Plan Handbook (2026), pp. 17-18
- Check with Mississippi PERSThe reduction is an actuarial factor for each year of service below 30 or each year of age below 65, whichever is fewer. Mississippi PERS doesn't publish the factor, so ask Mississippi PERS for an estimate.No published reduction factor (rules.json needsValidation: tier4-tier5-reduction-factor).Miss. Code Ann. § 25-11-111(f), (g) (H.B. 4073 (2026), § 18, pp. 69-70); Mississippi PERS 2024 annual report, p. 102
- If you leave vested but too young to retire, you can leave your money with Mississippi PERS and start your benefit at 60 (62 for Tier 5).Mississippi PERS Board Regulation 28 (amended March 1, 2026); Miss. Code Ann. § 25-11-111(b) (H.B. 4073 (2026), § 18)
A reduced benefit limits returning to work
Retirees whose benefit was actuarially reduced for early retirement can't use the new 80%-of-salary return-to-work option. See Working after retirement.
Questions
Can I retire early from Mississippi PERS?
In Tier 4 from age 60, and in Tier 5 from 62, once vested, with a reduced benefit. Tiers 1-3 have no reduced early retirement: you retire with a full benefit at 25 years or at 60.
How much is the Tier 4 reduction?
Mississippi PERS doesn't publish the factor. The law says the benefit is reduced by an actuarial factor for each year below 30 years of service or below age 65, whichever is fewer. Ask Mississippi PERS for an estimate.
Source: Mississippi PERS Member Handbook, Revised November 8, 2024, pp. 15, 25, 62. Also: Mississippi PERS 2024 annual report; Hybrid Plan Handbook (2026); Retirement Tiers Overview; Mississippi PERS Board Regulations 28, 30, 48; Miss. Code Ann. § 25-11-111. Last reviewed .