Bridge Benefit

If a member is eligible for a reduced pension, that is, they have reached age 55 and they are retiring before age 60 or before reaching their Magic 80 Date, they may also be entitled to a bridge benefit to offset the early retirement reduction. 

The bridge benefit is the difference between the 1/4 of 1% (0.25%) early retirement reduction* and 1/8 of 1% (0.125%) of the monthly pension amount for each month the basic pension benefit is received before the earlier of age 60 or the Magic 80 Date. The bridge benefit is payable monthly to age 65. If the member dies before age 65, the remaining payments are paid to the member’s beneficiary.

*If you are under age 60 when you retire and have not reached your Magic 80 Date, an early retirement reduction will be applied to your pension.

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