Flat-percentage-per-year plans

{
  "id": "MLC-T-ECS-000746",
  "term": "Flat-percentage-per-year plans",
  "field": "Economic statistics",
  "definition": "Plans specifying a reduction in the benefit amount to be received upon retirement for each year by which early retirement precedes normal retirement.\n\nNote: In specific cases, flat-percentage-per-year reductions may approximate actuarial reductions, such as early retirement at age 55 with a reduction of 6 percent per year between age 55 and the plan’s normal retirement age of 62.",
  "references": [
    "BLS Glossary"
  ],
  "url": "https://mlchart.com/terminology/economic-statistics/flat-percentage-per-year-plans/"
}