At the rate of three percent per year from age sixty to age sixty-five and five percent per year from age fifty to age sixty. Members can retire with a lifetime benefit as early as age 50 once they have acquired 5 years of service credits.Before actually filing for retirement, make sure you have estimated your benefits and educated yourself on all the retirement options. If you are at least 50 years of age and have five or more years of credited service, you are eligible for early retirement. You may use this form to request Arizona income tax withholding if you receive regularly scheduled payments from pensions or annuities that. Learn about our healthcare, retirement, wellness, and additional benefits. Learn about our benefits.