Remember that your retirement is calculated on four factors: your membership type and tier, your age, length of service and your final average salary. For each quarter of a year increase in your age, up to age 65 for General members and up to 55 for Safety members, you receive an incremental age adjustment factor which slightly increases your benefit. For that reason, if you are age 59 and plan to retire this year, for example, you may want to make sure that your effective date of retirement follows the date you would turn 59 or 59 ¼ or 59 ½, etc. Another fact you will want to take into consideration is that the annual cost-of-living increase is effective on April 1st of each year. As long as you retire on or before April 1st, you will be eligible to receive the cost-of-living increase given that year.