Group F
GROUP F members:
Employees who were hired before January 1, 2010 and are not eligible for Groups C or D are assigned to Group F.
Employees assigned to Group F:
Your retirement benefit will have two or three components depending on your years of service when you choose to retire: Part A (“CRS Classic”); Part B (“Hired before 2010”); and Part C (“Extended Service“, for any service in excess of 30 years). Parts A, B, and C (if applicable) will be added together to determine your full retirement benefit.
- Part A includes pension benefits earned for service through 6/30/2011 based on your elected multiplier of 2.22% or 2.5%. The final average salary used to calculate your pension is based on the highest 36 consecutive months of earnings during your entire membership in CRS (from your first day of membership through your last day of paid employment). As a result, the final average salary may continue to increase if your salary increases.
- Part B includes benefits earned for service on and after 7/1/2011 up to a combined total of 30 years of service (Part A + Part B). Benefits for this service are calculated using a 2.20% multiplier and a final average salary based on the highest 60 consecutive months of earnings during your entire membership in CRS.
- Part C includes benefits earned for service in excess of 30 years. Benefits for this service are calculated using a 2.00% multiplier and a final average salary based on the highest 60 consecutive months of earnings during your entire membership in CRS.
Reduced Normal Retirement (at 30 years service OR at Age 60 w/5 years)
- Part A benefits will not be actuarially reduced.
- Part B and C benefits will be actuarially reduced from Age 60 IF you retire with 30 years of service before reaching age 60 , or will be actuarially reduced from Age 65 IF you retire upon reaching 60 with 5 years of service. The closer you are to either of these thresholds at the time you choose to retire, the smaller the reduction.
Normal Retirement
- Part A benefits will not be actuarially reduced.
- IF you retire on or after reaching age 60 with at least 30 years of service, OR after reaching age 65 with 5 years of service, Part B and C benefits will NOT be actuarially reduced.
Early Retirement
Group F members can choose to retire early under one of two thresholds on or before January 1, 2014. Retirement on January 1, 2014 includes service up to and including December 31, 2013. The early retirement thresholds are age 57 with at least 15 years service credit. IF you choose Early Retirement, ALL benefits (Parts A, B & C) are actuarially reduced based on your age.
The Cincinnati Municipal Code currently provides a simple COLA indexed to the Consumer Price Index not to exceed 2%.
Will not receive a retirement death benefit
How to Calculate Pension Benefits for Group F