Updated October 30, 2026. Quick answer: Missouri PSRS (certificated school staff) and PEERS (non-certificated school staff) members are eligible for normal retirement at age 60 with at least five years of service, at any age with at least 30 years of service, or under the Rule of 80, when age plus years of service equals 80 or more. Age-reduced early retirement is available at age 55 with at least five years of service for members who do not qualify for the Rule of 80. Five years of eligible service vests a member. PSRS uses a 2.5% benefit factor, or 2.55% with 32 or more years of service, and PEERS uses 1.61%.
PSRS normal retirement
The PSRS service retirement page says: “eligible for normal (full) retirement benefits at: Age 60 with at least five years of service Any age with at least 30 years of service Rule of 80-when the sum of your age plus your years of service equals 80 or more”.
PEERS normal retirement
The PEERS page says: “You are eligible for normal (full) retirement benefits at: Age 60 with at least five years of service Any age with at least 30 years of service* Rule of 80 when the sum of your age plus your years of service equals 80 or more*”.
Early retirement
“You are eligible for Age-Reduced early retirement benefits if you: Are age 55 with at least five years of service Do not qualify for the Rule of 80 (when your age plus your years of service equals 80 or more)”. “Are under age 55 with at least 25 but fewer than 30 years of service Do not qualify for the Rule of 80 (when your age plus your years of service equals 80 or more)”. “A reduction factor is applied based on your age at retirement. This means Age-Reduced benefits vary based on your age at retirement, so the younger you are, the more your benefits are reduced.”
Vesting
“Once you have earned five years of eligible service with PSRS, you are vested and can receive lifetime retirement benefits when eligible.” “Once you have earned five years of eligible service with PEERS, you are vested and can receive lifetime retirement benefits when eligible.”
What the pension is based on
PSRS: “If you have less than 32 years of service at retirement, a 2.5% benefit factor applies. If you have 32 or more years of service at retirement, a 2.55% benefit factor applies.” “Final Average Salary is a monthly average of your three highest consecutive years of PSRS-covered salary (including employer-paid health, dental and vision insurance premiums).” PEERS: “Normal, or full, retirement benefits are calculated with a 1.61% benefit factor.” “Final Average Salary is determined by adding your three highest consecutive salaries (including employer-paid health, dental and vision insurance premiums for the member) and dividing the total by 36.”
A worked example with invented numbers
Take an invented PSRS member with 30 years of service. That is 30 years at 2.5%, or 75% (computed) of a final average salary of $60,000 (invented, for the computation), which comes to $45,000 a year (computed).
Now take an invented PEERS member with 30 years of service. That is 30 years at 1.61%, or 48.3% (computed) of a final average salary of $60,000 (invented, for the computation), which comes to $28,980 a year (computed).
What the documents do not say
The age-reduction factors and the 25-and-Out benefit factors are printed only in table cells, so this page does not copy them and computes no early retirement example. The PSRS 2.55% factor for 32 or more years applies to retirements effective on or after September 1, 2023, which the PSRS page states. The PEERS final average salary wording comes from the handbook glossary and the PSRS wording from the system page. Disability, the Partial Lump Sum Option and members of other Missouri systems are not covered.
Common mistakes
- Reading 80 as an age. The Rule of 80 is age plus years of service.
- Using the PSRS 2.5% factor for a PEERS member. PEERS uses a 1.61% benefit factor.
- Assuming age 55 with five years always retires early. The page lists that route for members who do not qualify for the Rule of 80, and the reduction factor depends on age at retirement.
Related: Missouri PSRS and PEERS retirement decisions, the Missouri PSRS and PEERS COLA for 2027, how public pension decisions work, and whether Missouri taxes pensions.
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Answer againSources
- PSRS/PEERS of Missouri, PSRS Eligibility and Calculations (Service Retirement): www.psrs-peers.org
- PSRS/PEERS of Missouri, PEERS Eligibility and Calculations (Service Retirement): www.psrs-peers.org
- PSRS/PEERS of Missouri, PSRS Member Handbook 2026-2027: www.psrs-peers.org
- PSRS/PEERS of Missouri, PEERS Member Handbook 2026-2027: www.psrs-peers.org
- Related official page (not quoted): IRS Tax Topic 410, Pensions and annuities: www.irs.gov
- Related official page (not quoted): IRS Tax Topic 411, Pensions: the General Rule and the Simplified Method: www.irs.gov
Read from the primary documents linked above on October 30, 2026. General information, not tax advice. Your own facts decide the outcome, and a preparer or the IRS itself is the right place to confirm anything consequential.