LECOS Retirement Eligibility - Group 2
Group 2 LECO (hired September 1, 2009 - August 31, 2013)
LECO-contributing employees in Group 2 have three ways to become eligible for the state’s retirement annuity, but only one allows for a lifetime annuity supplement from the LECO Supplemental Retirement Fund, in addition to the lifetime annuity from the regular ERS Trust Fund. If you do not meet the requirements for the LECO annuity supplement when you retire, you will get the balance in your LECO account as a one-time payment. The one-time payment will include 2% interest, but not any contributions from the state.
| Eligibility A | Eligibility B | Eligibility C | |
|---|---|---|---|
| Service Credit | 10 years of LECO service credit | 10 years of any service credit | 20 years of LECO service credit |
| Minimum Age | 55 years | 65 years | Any |
| Lifetime Annuity from ERS Trust Fund | Yes Payment permanently reduced 5% for each year under age 60 at retirement, 25% maximum reduction |
Yes | Yes Payment permanently reduced 5% for each year under age 55 at retirement, 25% maximum reduction |
| Lifetime Annuity from LECO Supplemental Retirement Fund | No | No | Yes Payment permanently reduced 5% for each year under age 55 at retirement, 25% maximum reduction |
| Health Insurance | Yes | Yes | Yes |
| Optional Insurance | Yes | Yes | Yes |
*Notice about Insurance
Depending on your insurance eligibility at retirement, your health insurance may not be effective right away.
Health and other insurance benefits for employees and retirees are subject to change based on available State funding. The Texas Legislature determines the level of funding for such benefits and has no continuing obligation to provide those benefits beyond each fiscal year.