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Judicial Retirement
System (JRS)
Retirements
There are many "types"
of Service Retirements available to members of the JRS.
The following table lists the eligibility requirements and benefits
of each type.
Members
are required to retire no later than age 70.
| Service
Retirements |
| |
Eligibility
|
Benefit
Calculation
|
| |
Age 65 with
15 years of judicial service |
75% of member's
final salary |
| |
Age 60 with 20
years of judicial service |
75% of member's
final salary |
| |
Age 70 with 10
years of judicial service |
75% of member's
final salary |
| |
Age 65 with 5
or more years JRS service with aggregate of 15 years
or more public service |
50% of member's
final salary |
| |
Age 60 with 5
or more years JRS service with aggregate of 20 years public
service |
50% of member's
final salary |
| |
Age 60 with 5
or more years JRS service with aggregate of 15 years public
service |
2% of final salary
per year of JRS service up to 25 years, plus 1% of final
salary for each year of creditable service over 25 years. |
| |
Age 60 |
2% of final salary
per year of JRS service up to 25 years, plus
1% per year for each year over 25 years. |
| |
|
|
| |
Member Responsibility |
Complete Application
for Retirement Allowance |
| Early
Retirement |
| |
Eligibility
|
Benefit
Calculation
|
| |
Under
age 60 with 5 or more years as JRS member, with aggregate
of 25 or more years public service. |
2% final salary
per year of service up to 25 years, plus 1% per year of
service over 25, with actuarial reduction according to age.
Member should write
to Division of Pensions and Benefits for retirement estimate
to determine reduction. |
| |
|
|
| |
Member
Responsibility |
Complete
"Application for Retirement Allowance" |
| Deferred
Retirement |
| |
Eligibility |
Benefit Calculation |
| |
Under
age 60, with 5 or more years of JRS service, with aggregate
service credit of 10 years. |
- 2% of final salary per
year of service up to 25 years, plus 1% per year over
25 years.
- Payable at age 60
- May be actuarially reduced
depending on age. Request an estimate from the Division
of Pensions and Benefits
- If member dies prior to
age 60, beneficiary only entitled to return of member's
contributions plus interest.
|
| |
|
|
| |
Member
Responsibility |
Complete
Application for Retirement Allowance |
|
Disability
Retirement
|
| |
Eligibility |
Benefit Calculation |
| |
Physical or other
incapacity to serve as judge; certified by Supreme Court to
the Governor. Requires Application
for Retirement Allowance submitted to the Division of Pensions
and Benefits, plus a letter addressed to the Chief Justice of
the Supreme Court describing disability.Three physicians appointed
by the Governor assigned to prove disability.Governor will approve
or disapprove the findings of the physicians' report. |
75% of
final salary; earliest retirement
date is one full month after application is submitted to the
Division of Pensions and Benefits. Once approval of the disability
retirement has been granted, the member can only cancel the
disability retirement by submitting a letter to the State House
Commission, with a statement from his/her physician stating
that the member can return to work. The member will then be
sent for an IME, and all medical information will be again submitted
to the Medical Review Board. At that time, a determination will
be made regarding whether or not the member is able to return
to work. |
| Death
After Retirement |
| |
When JRS member
dies: |
Named beneficiary
will receive death benefit of 25% of final salary. Eligible
surviving spouse will receive 25% of current salary of judicial
position member held at retirement.
Eligible dependent children may also receive a survivor
benefit. |
Group
Life Insurance Coverage
|
| |
Noncontributory
Group Life Insurance |
| |
Since June 1, 1973,
all judges enrolled have Noncontributory Group Life Insurance
coverage effective the date of their enrollment.The benefit
amount equals 1.5 times final salary.No medical examination
is required to establish Noncontributory Group Life Insurance
coverage. Members must cancel their private contract upon reenrollment
or prove insurability upon their return. |
| |
Contributory Group
Life Insurance |
| |
Effective
May 1, 2001, all new members of the JRS must be covered by Contributory
Group Life insurance for the first 12 months of membership.
After the 12 months have elapsed, you may cancel this coverage
if you wish by filing the proper form available through your
employer. Coverage for existing members is optional. This coverage
is separate and distinct from the Noncontributory Group Life
Insurance provided through JRS membership. Find information
about Optional Contributory Group Life Insurance for JRS members.
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