Special 20- and 25-Year Plans

For PFRS Tier 2, 3 (Article 11), 5 and 6 Members, (Sections 384, 384-d and 384-e)

Partial Lump Sum Payment

Special 20- and 25-Year Plans
For PFRS Tier 2, 3 (Article 11), 5 and 6 Members
(Sections 384, 384-d and 384-e)

Eligible PFRS members can elect to receive a partial lump sum (PLS) payment at retirement. If you elect a PLS payment, your monthly benefit will be permanently reduced. For most members, you will receive your PLS along with your first pension payment, at the end of the month following your retirement month.


To be eligible for the PLS payment, you must:

  • Retire under a special 20- or 25-year plan;
  • Have been eligible to retire with a service retirement benefit for at least one year before your date of retirement; and
  • Retire with a service retirement benefit (not a disability benefit).*

Choosing a Lump Sum Payment

You must select a pension payment option and PLS payment by the end of the month in which you retire.

If you are eligible for a PLS payment, you can file for retirement, review and select your pension payment and PLS options online using Retirement Online.

If you file for retirement by mail, we will send you a special Option Election Form so you can choose a PLS percentage, or you can print it from the Option Selection with Partial Lump Sum Payment section of our Forms page and submit it with your retirement application.

Lump Sum Payment Amounts

The amount of the PLS payment available to you is a percentage of the total actuarial value of your retirement benefit at the time you retire. The available percentages are based on the number of years you have been eligible to retire. The chart below outlines when various percentages become available. Your Single Life Allowance will be reduced by the same percentage as the PLS option you have chosen. If you choose a different payment option, we will calculate it based on your reduced Single Life Allowance.

Years You’ve Been Eligible to Retire Available PLS Payment Options*
1 5%
2 5 or 10%
3 5, 10 or 15%
4 5, 10, 15 or 20%
5 or more 5, 10, 15, 20 or 25%
*A percentage of the actuarial value of your retirement benefit.

For More Information

For more information, including the taxability of a PLS payment, refer to our publication, Partial Lump Sum (PLS) Payment at Retirement — For Eligible NYSLRS Members.


*If you receive a PLS payment under a service retirement benefit and are later approved for a disability retirement benefit, you must repay the PLS payment, plus interest, if you convert to the disability benefit. Severe tax consequences may apply in some situations.