Who qualifies for the adjusted minimum benefit?
PERS Plan 1 and TRS Plan 1 retirees (and survivors of retirees) whose current gross monthly benefit is less than the adjusted minimum benefit level and who: • Have at least 25 years of service credit and who have been retired at least 20 years; or who • Have at least 20 years of service credit and who have been retired at least 25 years. If your benefit was below the adjusted minimum benefit level and you met the requirements of “A” above, your benefit has already been adjusted. Your benefit will be re-evaluated using the July 1, 2006 minimum benefit of $1,030 ($1,000 plus the 3% increase). If your benefit is below the adjusted minimum benefit level and you meet the requirements of “B” above you will have your monthly benefit adjusted beginning in July 2006.
