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Retirement
Andrews University
Berrien Springs, MI 49104-0840
Phone: 269. 471. 3302
Fax: 269. 471. 6293
retirement@andrews.edu
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Eligibility
Answers to Your Questions About Retirement
| Q |
What are the requirements for eligibility for retirement benefits?
(Z 20 05) |
| A |
In order to be eligible for retirement benefits an employee must earn
10 full years of service credit. An employee who thus qualifies is
vested. However, there are different rules for different retirement windows:
- An employee who retired from active service between January 1, 1981
and December 31, 1987 must have begun denominational service before
attaining age 55 and must earn 10 full years of service credit before
attaining the normal retirement age.
- Employees who terminated denominational service prior to January 1,
1981, must have 15 full years of service credit.
- Employees who began denominational service after attaining age
55 do not receive service credit prior to January 1, 1988.
- Employees who were out of denominational service on January 1, 1981
and who had at least 10 years but less than 15 years of service credit
must earn at least two additional years of service credit or the
difference between actual service credit and
15 years, whichever is less, in order to be eligible for benefits.
- North American Division based interdivision employees who were
interdivision employees on or after December 31, 1991 and have earned a
minimum of 6 years of service credit as interdivision employees are
considered vested. Pre-embarkation, furlough,
and permanent return are all counted as interdivision service.
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| Q |
What is the age requirement for eligibility? (Z 20 05) |
| A |
An employee's Normal Retirement Age (NRA) is based on a sliding scale
depending on the year of birth. These are not intended to be mandatory
retirement ages irrespective of health, ability, and opportunity for
service, but should be understood as
merely setting a minimum limit when age alone may be considered a
determining factor. Those who are vested and terminated must begin
receiving their retirement benefits by April 1 of the calendar year
following the year they reach age 70 1/2.
| Year of Birth |
Normal Retirement Age |
| 1937 or earlier | 65 |
| 1938 | 65 + 2 months |
| 1939 | 65 + 3 months |
| 1940 | 65 + 6 months |
| 1941 | 65 + 8 months |
| 1942 | 65 + 10 months |
| 1943 - 1954 | 66 |
| 1955 | 66 + 2 months |
| 1956 | 66 + 4 months |
| 1957 | 66 + 6 months |
| 1958 | 66 + 8 months |
| 1959 | 66 + 10 months |
| 1960 + | 67 |
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| Q |
Is it possible to retire prior to my Normal Retirement Age? |
| A |
Yes. If you have a total of at least 35 years of service credit, you
may retire as early as age 62. However, due to the Early Retirement
Reduction policy, benefits will be reduced by .5% for each month an
employee's age is less than the normal
retirement age, or for each month service credit less than 40 years,
whichever yields the greatest monthly benefit.
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| Q |
Is there a maximum age for beginning employment? (Z 15 05) |
| A |
Not after December 31, 1987. However those who began service after
attaining age 55 will not receive service credit before January 1,
1988.
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| Q |
If I withdraw from denominational employment prior to retirement,
will I become eligible for retirement benefits? (Z 20 05) |
| A |
Yes, if you meet vesting requirements. You will be eligible for
benefits when you reach your normal retirement age, if you have 15 full
years of service credit for service terminated prior to January 1, 1981,
or 10 years of service credit for those
who discontinue employment after 1980. |
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