Phased Retirement

Eligible members of the PERA Coordinated Plan may be able to ease into retirement. Under PERA's phased retirement option, eligible employees can begin to receive a PERA pension without separating from service. In return, an employee who elects the new phased retirement option must agree to reduce hours worked and to retire at the end of the phased retirement period.

The decision to offer the new phased retirement option is up to each employer that participates in PERA. The City Council passed a resolution authorizing the City of Minneapolis to offer the phased retirement option.

Note: The phased retirement option is not available to members of the PERA Police and Fire Plan.

Eligibility Requirements

To qualify for phased retirement, an employee must:

Benefits of Phased Retirement

An employee who participates in the phased retirement option receives a PERA pension without formally resigning and taking a 30-day break in service. Phased retirement participants are exempt from the PERA earnings limit that applies prior to full Social Security retirement age.

Neither the employee nor the city makes any further contributions to PERA. As a result, the employee stops earning PERA service credits. There will be no further adjustments to the high-five average salary.

More Information on Phased Retirement

Interested in Phased Retirement?

If you are interested in the phased retirement option, talk to your supervisor and Human Resources Generalist. Procedures and Phased Retirement Request Forms are available. 

Phased Retirement Benefits Memo 

Phased Retirement Benefits Memo (Represented by AFSCME attorney, MnPEA, and MPEA only)

Last updated Jan 17, 2017

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