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Early retirement options

Retire when the time is right for you

In DBplus, you can choose a retirement date that meets your individual needs, including the possibility of retiring as early as age 50.

Retire at age 65 (normal retirement)

Your normal retirement date is the last day of the month in which you turn 65. If you retire at 65, the CAAT pension you have built to that date will be unreduced.

Retire before age 65 (early retirement)

CAAT members in DBplus can retire as early as age 50. If you retire before age 65, an early start adjustment will apply to your pension. This permanent reduction to your pension reflects the fact that, by starting it early, you will receive it for a longer period of time. In DBplus, the early start adjustment rate is based on the Plan’s funded status. It is a maximum of between 3% and 5% for each year that you are under age 65. Initially, the reduction rate for retirements has been set to 3% for each year you are under age 65. The actual rate will depend on the Plan terms in effect at your retirement.

Keep working after age 65 (postponed retirement)

If you continue working beyond age 65, you will continue contributing and building your pension until late in the year in which you reach age 71. Under tax law, you must stop contributing by November 30 and start your pension by December 1 of that year, even if you continue working.

As a CAAT DBplus member you can easily answer the two key questions about your pension at any time: “When can I retire?” and “How much will my pension be?”

Your annual pension statement and the DBplus estimator will provide this information.

Inflation adjustments help you retire early

The longer you are retired, the more the cumulative effects of inflation can reduce the purchasing power of your pension. CAAT’s partial inflation protection helps.

Estimate a DBplus Pension

Get a quick and easy estimate of how much lifetime retirement income members will get from contributions to DBplus.

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