If a member is eligible for a reduced pension, i.e., they are retiring before age 60 or attaining their Magic 80 date, and have attained age 55 with a minimum two years of service, he or she may also be entitled to a bridge benefit to offset the early retirement reduction.
The bridge benefit is the difference between the 1/4 of 1% (0.25%) early retirement reduction and 1/8 of 1% (0.125%) of the monthly pension amount for each month the basic pension benefit is received before the earlier of age 60 or the Magic 80 date. The bridge benefit is payable monthly to age 65. If the member dies before age 65, the remaining payments are paid to the member’s beneficiary.