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Service Retirement — Available to any active TPAF Tier 1 member age 60 or older. No minimum years of service are required. The annual retirement allowance is based on the following formula:

*Final Average Salary means the average salary for the three years immediately preceding your retirement. If your last three years are not your highest years of salary, use your three highest fiscal years (July - June) of salary.

Early Retirement — Available to TPAF Tier 1 members who establish 25 years of service before attaining age 60. The annual retirement allowance is based on on the Service Retirement formula shown above. If you are under 55 years of age, this benefit is permanently reduced by 1/4 of 1 percent for each month (3 percent per year) that you are under age 55.

Veteran Retirement — There are three types of Veteran Retirement benefits for TPAF members who served in the military during wartime. (select one)

Veterans aged 60 or older, with at least 20 years of service, may retire with an annual allowance equal to 54.5 percent of their last 12 months' base salary or highest 12 consecutive months of base salary.

Veterans aged 55 or older, may retire with 25 years of membership credit at an annual retirement allowance equal to 54.5 percent of their last 12 months' base salary or highest 12 consecutive months of base salary.

Veterans aged 55 or older, with 35 or more years of membership credit are entitled to an annual allowance based on the following formula:

Veteran members may retire on a Service Retirement if that provides a better benefit.

Deferred Retirement — Available to TPAF Tier 1 members who have terminated employment but who have not yet reached the Service Retirement age of 60. You must have establised 10 years* or more of service credit at the time you terminated employment. The annual retirement allowance is based on the Service Retirement formula shown above. The effective date of retirement is the first day of the month following your 60th birthday.

*If your service credit includes a voluntary purchase of service, to be eligible for a Deferred Retirement, TPAF members must have paid off enough of the purchase service to meet a 10-year minimum.

Disability Retirement — There are two types of TPAF Disability Retirement benefits. (select one)

Ordinary Disability — You must have a minimum of 10 years of N.J. service credit* and be considered totally and permanently disabled. If you qualify for an Ordinary Disability Retirement, the retirement allowance is 43.6 percent of your Final Average Salary or 1.64 percent of the Final Average Salary for each year of service credit, whichever is higher.

*The purchase of Out-of-State, Military, and U.S. government civilian service cannot be used to attain the 10 years.

Accidental Disability — You must be considered permanently and totally disabled (you must prove that you are physically or mentally incapacitated from performing your normal or assigned job duties or any other position that your employer may assign) as a "direct result of a traumatic event" that happened during and as a direct result of carrying out your regular or assigned job duties. If you qualify for an Accidental Disability Retirement benefit, you will receive 72.7 percent of your base salary at the time of the traumatic event.

For more information about Disability Retirement, see the Disability Retirement Fact Sheet.