In order to retire, a member must have a bona fide termination and be removed from payroll before the effective date of retirement. ERISA is a federal law that sets minimum standards for retirement plans in private industry.For the full retirement benefit, you must be 62 years old at retirement or, if you have 30 years of credited service, you may retire as early as age 55. The steps outlined below describe some of your plan's obligations and briefly explain the procedures and timelines for filing a claim for retirement benefits. At the end of each year, we'll mail you a Social Security. Benefit Statement (Form SSA-1099) that shows the amount of benefits you received. Did you receive a letter from the Social Security Administration (SSA) stating that you MAY be entitled to some private pension benefits? Applying for Retirement – This explains the retirement process. Unless you elect otherwise, benefits under a qualified plan must begin within 60 days after the close of the latest plan year. King County, as plan administrator, has the sole discretionary authority to determine eligibility for benefits and to construe the terms of the plans.