Normal retirement

Normal retirement

The age or number of working years after which a pension plan beneficiary can retire and receive unreduced benefits immediately.

Normal Retirement

A situation in which a worker stops working and is eligible to receive benefits from a pension or other retirement plan without having to pay back taxes and/or a penalty. Normal retirement may occur at a certain age, such as 65, and/or after a certain number of years working for the company.
References in periodicals archive ?
Since the normal retirement age is 60, such benefits would be allowed to those who are more than 90 years.
Most full-time state and local public employees participate in a defined benefit plan that offers normal retirement benefits at relatively early ages, and these plans vary widely across state and job descriptions.
An employer would fall outside the 623(i) safe harbor if, for example, the amount of pension credit per year were a function of age rather than the years of credited service, or if pension accruals stopped or were reduced at a firm's normal retirement age.
If you choose to start cashing in your Social security checks before your normal retirement age, your benefits are reduced.
Before reaching the normal retirement age of 57 on May 8, 2016, Mr Chau has been approved to extend his service for 12 months to May 7, 2017.
At the maximum payment coming to a worker retiring in 2016 at normal retirement age and who has earned the maximum during a working career, the payout is $2,639 a month ...
Many workers are flexible about staying employed beyond normal retirement age.
The payout will not exceed 80% of gross salaries which would be paid to any staff member from the date of the gratuitous amount until the date of their normal retirement.
MORE than two-fifths of people in Ireland expect to work beyond the normal retirement age, a survey released yesterday showed.
HONG KONG * Hong Kong Cardinal John Tong Hon has said he has been told by the Vatican he will not be allowed to participate in this fall's hotly anticipated Synod of Bishops on family life because he is 76 years old, one year past the normal retirement age of bishops.
The normal retirement age in Bulgaria will gradually rise to reach 65 years for both men and women in 2037, parliament has decided.
Finn is 62, 13 years short of the normal retirement age of 75.