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The City of New Orleans

Mayor Mitchell J. Landrieu

Retirement

Qualifications for Retirement

Minimum qualifications for a service retirement

The minimum eligibility requirements for a service retirement are as follows:

  • Five (5) years of service and sixty-five (65) years of age
  • Ten (10) years of service and sixty years of age (A 3% reduction in the benefit allowance is assessed for each year under the age of sixty-two (62)
  • Thirty (30) years of service at any age (no reduction if under age 62)
  • “Rule of 80” – Age plus years of service equals eighty (No reduction if under the age of sixty-two (62))
    • Example – Age 55 with 25 years of service qualifies for “Rule of 80”.
    • NOTE: Members electing “Rule of 80” retirements must apply all sick leave for retirement credit and are not eligible to participate in DROP.

Minimum qualifications for a separation retirement

  • A member who terminates with at least five (5) but less than ten (10) years of service at termination may collect a pension at age sixty-five (65) with no reduction.
  • A member who terminates with at least ten (10) years of service at termination may collect a pension at age sixty (60). The member will incur a 3% reduction in the monthly allowance for each year under age sixty-two (62).
 
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Last updated: 4/15/2016 2:43:08 PM

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