This excerpt taken from the TRH DEF 14A filed Apr 20, 2007.
Early retirement benefits. Each of the domestic retirement plans provides for reduced early retirement benefits. These benefits are available to participants in the tax-qualified retirement plan who have reached age 55 and participants in the Excess Retirement Income Plan who have reached age 60, in each case with 10 or more years of credited service. Early retirement under the Excess Retirement Income Plan requires the approval of the Committee.
In the case of approved early retirement, participants in the tax-qualified retirement plan and the Excess Retirement Income Plan will receive the plan formula benefit projected to normal retirement at age 65 (using average final salary as of the date of early retirement), but prorated based on years of actual service, then reduced by a further amount. Participants in the tax qualified retirement plan with at least 5 years of continuous service to TRH or AIG have a reduced vested retirement allowance pursuant to which, in the case of termination of employment prior to reaching age 55, such participants may elect to receive the reduced early retirement benefit commencing at any date between age 55 and age 65 and reduced by an additional 1/15 for each of the first 5 years, and 1/30 for each of the next five years, by which such commencement precedes age 65. Participants in the domestic retirement plans may not choose to receive a lump sum payment upon normal or early retirement.