Can a New Jersey Teacher Retire at 55?

  • Teachers in New Jersey can retire from their job after 20 years of service.
  • The Public Employees' Retirement System (PERS) offers early, or "pre-retirement," retirement to eligible employees.
  • Eligible employees must meet age and service requirements, apply, and be approved before they can retire early.

New Jersey's Public Employees' Retirement System (PERS) allows some employees to retire as early as 55 years old with 20 years of service. New Jersey teachers are eligible for this benefit, as well as police officers and members of the judiciary.
To be considered for early retirement, employees must have a PERS pension with 20 years of service at any age, must have not retired since Jan. 1, 2006, and must be younger than 60 years old as of July 1 of the year of retirement.



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New Jersey Teachers' Retirement System

New Jersey Teachers' Retirement System (TRS):

https://www.trs.state.nj.us/

New Jersey teachers are generally entitled to a retirement benefit if they have worked 120 calendar quarters (or 30 years). However, teachers may retire after 25 years of service if they begin receiving their pension before age 65.

New Jersey Teacher Retirement Age

The New Jersey Public Employees Retirement System (PERS) allows teachers to retire when they reach the age of 55 with 25 years of service. If you retire before the age of 55, your benefits will be reduced. After 25 years of service, teachers can purchase a supplemental pension based on their years of service, age and salary.

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New Jersey Teachers' Retirement System Rules

Teachers hired after July 1, 2018, or later, and who retire at age 55 or later, are eligible to collect a pension of 2% at age 60, 2.5% at age 65, and 3% at age 67. However, a teacher's pension cannot exceed 90% of their average final salary. The average final salary is the average of the highest five years of salary.
Teachers hired before July 1, 2018, and who retire at age 55 or later, are eligible to collect a pension of 2% at age 60 and 2.5% at age 65. However, a teacher's pension cannot exceed 90% of their average final salary. The average final salary is the average of the highest five years of salary.

Can I retire at 55 as a New Jersey teacher?

Once a New Jersey teacher reaches age 55, he or she is eligible to retire. However, this does not mean they will automatically receive a retirement pension.
All teachers in New Jersey must participate in Teachers' Pension and Annuity Fund (TPAF) to be eligible for a retirement pension. To participate in the retirement program, members must be a member of the New Jersey Education Association (NJEA).



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Do teachers in New Jersey have a mandatory retirement age?

No. According to the New Jersey State Department of Education, there is no mandatory retirement age for NJ public educators. However, teachers may leave the Department of Education's employment at any age.
Where can one go for more information on retirement for New Jersey teachers?
The New Jersey State Department of Education has created a retirement website for educators. The website discusses pension, retirement, and health benefits, as well as plans for future retirees.