Retirement Plan booklet - sdcera

9
Becoming eligible to
collect a retirement benefit
When you are vested, you have earned the nonforfeitable right to receive
an SDCERA retirement benefit. You are vested when you have at least five
years of SDCERA service credit, or a combination of at least five years of
service credit from SDCERA and one or more reciprocal systems. Read
page 15 for information about earning service credit.
There is a difference between being vested and being eligible to retire. You
are eligible to retire if you meet the following eligibility requirements:
The retirement benefit you
receive is guaranteed—by
law—and the benefit you earn
will be paid for your lifetime.
• All active members at least age 50 with 10 or more years of
service credit
• General members at any age with 30 or more years of service credit
• Safety members at any age with 20 or more years of service credit
• All members at age 70 with any amount of service credit (including
members with less than five years of SDCERA service credit)