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The average KPERS member retires at age 62 with 20 years of service. At age 62 with a final salary of $40,000, he will receive full KPERS benefits and a reduced benefit for early retirement from Social Security.
Life Insurance, Disability & Death Benefits. KPERS isn't just for retirement. Your income is automatically protected by life insurance, disability benefits and death benefits. It's here if you need it.
The 85-point rule is only one of the three ways you can qualify for retirement. You can retire at age 55 with 10 years of service, even without 85 points. There is a 0.6% reduction for each month you are between age 55 and age 60, and a 0.2% reduction for each month you are between age 60 and age 62.
You will return as a KPERS 3 member. You can apply to withdraw your contributions any time 31 days after you end employment. If you withdraw, you will give up all Retirement System rights, benefits and service credit.
You'll Need More Than KPERS KPERS and Social Security won't be enough for a secure retirement. You need to do your part to "fill the gap" by saving on your own. One of the easiest ways to save is through an employer plan, like a 457(b) or 403(b). Many employers offer KPERS 457.
Keep your money in KPERS and apply for retirement when you become eligible. Your account will continue to earn interest in the meantime, and you can withdraw any time if you change your mind.
KPERS 1 (Correctional A & B) To be eligible, you must work in a Group A or B position for at least three years immediately before retirement.
KPERS members vest their benefit with five years of service.