Indiana Pension Service accessIndiana
Rules and Definitions for Option 61

You are eligible to select this option if you retire between the ages of 50 and 62 and have at least 15 years of service. PERF will pay you a larger monthly benefit up until you turn 62. At age 62, your benefit will be reduced or terminated depending on your estimated Social Security benefit. If you die before receiving benefits for five years, your beneficiary will receive either your monthly benefit for the remainder of those five years OR the present value of those remaining payments in a lump sum. If you are applying for disability benefits, you are not eligible for option 61. Please read the "Notice to Members". Review the Social Security Integration Option 61 form carefully for risks involved with option 61, especially if considering returning to work in a PERF covered position.