Longevity Bonus—Background Information
The longevity bonus is a permanent addition to the monthly retirement benefits of qualified members. Members who retire after January 1, 2001, and have 30 or more years of service credit before December 31, 2010, benefit from the bonus.
As of December 31, 2010, the window period to earn eligibility for the longevity bonus closed. If you had 30 or more years by December 31, 2010, you continue to increase your longevity bonus with each year of service credit up to 32 years.
Remember, if you did not have at least 30 years on December 31, 2010, you are not eligible for the bonus.
Retirement Benefit Change
Eligibility for the longevity bonus permanently increases the amount of your monthly retirement benefit. The amount is set for the entire length of your retirement, unless you return to active service.
Your total years of qualified service credit at retirement determine your bonus, as long as you have at least 30 years by the sunset date.
|Years of qualified service
credit at retirement
|Monthly bonus with no
|32 years||$400 (maximum)|
The bonus for members with a beneficiary option is reduced based on the option chosen. For examples of option benefit factors, see the Service Retirement Option Factor Tables in the Member Handbook.
You may purchase service credit to enhance your Longevity Bonus; however, a service credit purchase cannot be used to gain eligibility for the Longevity Bonus.