Early Retirement
Start your retirement before the normal retirement age with reduced benefits
Eligibility Requirements
Age 55 with 10 Years Service
Minimum requirements for early retirement
You are eligible for early retirement if you are age 55 or older with a minimum of 10 years of creditable service with the American Samoa Government or its component units.
Important Notice: Reduced Benefits
Early retirement benefits are actuarially reduced to account for the longer period over which you will receive payments. The earlier you retire, the greater the reduction in your monthly benefit.
How Early Retirement Affects Your Benefits
Benefit Reduction Factors
Your early retirement benefit is calculated using the same formula as normal retirement, but then reduced based on how early you retire before your normal retirement age.
Standard Benefit Calculation
Note: The exact reduction percentage varies based on your age at retirement and is calculated actuarially. Contact ASGERF for your specific reduction factor.
Early vs. Normal Retirement Comparison
| Retirement Type | Age Requirement | Service Requirement | Benefit Amount |
|---|---|---|---|
| Early Retirement | Age 55+ | 10 years minimum | Actuarially Reduced |
| Normal Retirement (Option 1) | Age 65 | 5 years minimum | Full Benefit |
| Normal Retirement (Option 2) | Age 55 | 30 years | Full Benefit |
Things to Consider Before Early Retirement
Financial Impact
- Lower monthly benefit for life
- Need additional retirement savings
- Consider healthcare coverage options
Personal Factors
- Your health and life expectancy
- Family financial obligations
- Personal readiness for retirement
Early Retirement Application Process
Review Your Options
Carefully consider the financial impact of reduced benefits and explore your alternatives before making the decision.
Schedule a Consultation
Meet with an ASGERF counselor to discuss your specific situation and understand the exact benefit reduction.
Submit Application
Complete and submit your early retirement application at least 90 days before your intended retirement date.
Benefit Processing
ASGERF will process your application, calculate your reduced benefit, and provide you with the final benefit amount.
Considering Early Retirement?
Schedule a consultation with our retirement specialists to understand how early retirement would affect your specific situation and explore all your options.