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Business Definition for: normal retirement age

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.

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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.

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