What is the pension benefit calculation for Section 383-e?

Members with 20 years or more of creditable service can retire with 50% of their Final Average Earnings (FAE), plus an additional 1% of their FAE for each year of creditable service beyond 20, up to a maximum of 62% of their FAE.

Section 383-e is a 20-year plan, for Tier 5 and 6 members only.

What is the pension benefit calculation for Section 383-f?

Members with 25 or more years of creditable service can retire with 55% of their FAE, plus an additional 1% for each year of creditable service beyond 25, up to a maximum of 62% of their FAE.

Section 383-f is a 25-year plan, for Tier 2 and 3 members only.

Do members in the Section 383-e or 383-f retirement plan have a backup plan?

Yes, members within Section 383-e and 383-f are entitled to Section 375-h as a backup plan. If you are age 55 or older at retirement and your backup plan would provide a greater benefit, the greater benefit will be paid.

Rev. 10/25