Employee FAQs - Preparing to Retire

Important note: Information contained in these frequently-asked questions and answers is general in nature. In case of any conflict, the actual contract language between the employing municipality and PMRS along with PMRS law will prevail. Also, existing regulations, policies and procedures will apply in all cases.


I'm thinking about retiring. When should I contact PMRS?

We encourage everyone to contact PMRS between six months to a year before they retire to request a retirement estimate.  The appropriate form and details about how to apply for the benefit will be provided with your estimate.  

How do I retire?

A retirement application must be completed and sent to PMRS.  Choose one of the following:

When I retire, how much money will I receive every month?

Your monthly retirement benefit is based on the contract that exists between your employing municipality and PMRS. Each municipal pension plan provides a certain benefit, but generally the longer you work and the higher your compensation, the greater your retirement benefit.

Can I retire early?

Early retirement is allowed in most of the individual municipal plans. When retiring early, the monthly benefit is reduced approximately ½% per each month the retirement takes place prior to normal retirement age.

When I retire, how do I choose a survivor benefit?

Survivor benefits or options are selected at the time of retirement by the retiring member when they complete the application for retirement form. The contract between PMRS and your employer will dictate the survivor options that are available. Most plans provide at least four options for survivor benefits.  Generally, providing the least guaranteed survivor benefit will provide you with the most monthly benefit.  PMRS does not recommend which survivor option should be selected.  The best option will vary depending on your personal circumstances.  

Things to consider when selecting a survivor option:

For some of the survivor benefit options that are available, see the sample benefit summary brochures.