Pilot Retirement Timeline Age 50 Pilots with 10 years of service are fully vested in the plan at age 50. You can make “catch-up” contributions to the 401K ($5,500 in 2012).Life insurance resets to $70,000 death benefit. Age 55 Allied Pilots Association (APA) Voluntary Supplemental Medical enrollment deadline. Super Saver 401K distributions—Pilots already separated from service can take 401K distributions not subject to the 10 percent penalty. Age 58 (+8 months) The APA disability income plan has a 14-month exclusion. They will not pay a new claim after this age. Age 59 1/2 An active pilot may make an in-service distribution of the Super Saver 401K account (IRA rollover) and continue to fly for American Airlines.Rule 72t—This technique avoids the 10 percent premature distribution penalty prior to 59 ½. It calls for withdrawal of ‘substantially equal payments’ from your IRA. Please note restrictions apply.All retirements prior to age 60 are considered “Early Retirements” and the B-Fund lock-in feature applies. Age 60 Pilots retiring on the month of their 60th birthday are making a “Normal Retirement,” based on the B-Fund adjusted unit value three months prior.Pilots retiring after age 60 are considered a “Late Retirement” and no lock-in applies to the B-Fund. Age 62 Earliest age to receive Social Security Benefits.Employment income may significantly reduce Social Security benefits until Full Retirement Age (FRA). Age 64 (+9 months) If you are not already receiving Social Security retirement benefits, it is recommended that you enroll in Medicare three months prior to your 65th birthday. Age 65 Mandatory pilot retirement.If you are already receiving Social Security retirement benefits, Medicare enrollment is automatic.If you elected the Value Plus retirement medical plan, it reverts to the standard plan at age 65. Age 66 This currently is Full Retirement Age (FRA) for Social Security retirement benefits. (Note: FRA transitions to age 67 based on birth year).Employment income no longer reduces Social Security benefits after FRA.Pilots can choose to delay receiving Social Security; benefits increase about 8 percent per year. Age 70 Social Security retirement benefits max out at 132 percent of Primary Insurance Amount (PIA). This is the highest retirement benefit election available. Age 70 1/2 You must begin Required Minimum Distributions from all retirement accounts. Have a Question? Name Email Address Phone Question Thank you! Oops!