I retired prior to 2001 and chose the Income-Leveling Payment Plan Option 4. What will happen to my retirement benefit when I turn age 62?
This option provided the maximum benefit plus an advanced additional benefit that is a percentage of the estimated amount of your Social Security benefit until age 62. At age 62, the Retirement Systems will begin recovery of the advancement by permanently reducing your benefit by the full amount (not just the percentage) of the estimated Social Security benefit payable at age 62. The reduction does not stop when the advancement has been recovered. Upon your death, the Retirement Systems will return, through a lump-sum payment to your beneficiary, any member contributions and interest not paid to you in benefits during your retirement.
