If a termination Benefit Definition's normal payment form is specified as commencing at post-termination retirement age, then clicking the ​Parameters ​button for the Post-termination retirement payment form option leads to the Post-Termination Retirement Parameters dialog box. 

Retirement eligibility

The eligibility requirements specify what criteria an employee needs to have met in order to commence receipt of a benefit. Note that these Eligibility criteria are in addition to the eligibility requirements on the Benefit Definition dialog box, which specify criteria that must be met at termination. For example, the eligibility requirement on the Benefit Definition screen might be completion of 5 years of service with no age requirement, and the retirement eligibility might be attaining age 55 and completion of 10 years of service, or attaining age 65 with no service requirement. In this case, someone who terminated with fewer than 5 years of service would get no benefit, someone who terminated with between 5 and 10 years of service would have retirement rates begin applying at age 65, and someone who terminated with 10 or more years of service would have retirement rates begin applying at age 55.

Conditions (no less than) and Exceptions (no more than) determine when an employee becomes eligible and ineligible, respectively, for retirement. These grids function in the same manner as those on the Benefit Definition dialog box. The Eligibility service parameters determine how to measure service when applying service-based and points-based retirement eligibility requirements. These parameters function in the same manner as those on the Benefit Definition dialog box. See the Eligibility Requirements article for details about setting the eligibility criteria and service parameters. Note that service accumulates only up to the date of termination.

​Benefit adjustment at retirement

To adjust the benefit amount based on retirement (commencement) age, specify Early retirement factors (ERFs). If this is a service-related table, the service will be based on the selection specified for Eligibility service.

If the Benefit Definition has any lump sum optional forms, the Lump sum optional forms calculated as present value of parameter will apply. Select the method you wish to use for conversion from the normal form to the lump sum:

• normal form reflecting ERFs and commencing immediately values a lump sum (payable immediately at retirement) based on an underlying annuity that is the normal form commencing immediately at retirement, and adjusted by the early retirement factors.

• normal form deferred to age values a lump sum (payable immediately at retirement) based on an underlying annuity that is the normal form commencing at the specified age, and not adjusted by the early retirement factors.​