Normal Retirement Age

Earliest age at which an employee can retire without a penalty reduction in pension benefits after having (1) reached a minimum age and (2) served a minimum number of years with an employer. Historically, this has been 65 years, but many private pension plans now envision earlier or later normal retirement ages. See also Multiple Retirement Ages.

Earliest age at which an employee can retire without a penalty reduction in pension benefits after having (1) reached a minimum age and (2) served a minimum number of years with an employer. Historically, this has been 65 years, but many private pension plans now envision earlier or later normal retirement ages.