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Preparing and Applying for Retirement
… Retirement is a big step, and we want to make sure you’re ready when the time comes. Below you’ll … for retirement, including topics to consider as you plan and actions to take. When you’re ready to apply for … guiding NYSLRS members through the retirement process and highlighting important topics and information to consider …
https://www.osc.ny.gov/retirement/members/preparing-and-applying-for-retirementLife Changes: A Guide for Retirees
… line (see the Contact Us section ). Health Insurance We do not administer health insurance programs. However, we can … Alternative Option (depending on the terms of payment). To do this, complete a Pensioner’s Designation of Beneficiaries …
https://www.osc.ny.gov/retirement/publications/life-changes-guide-retireesDeath Benefits – Divorce and Your Benefits
… retiring) . It is payable to the member’s last designated beneficiary(ies). To be effective, the member must properly execute and file the appropriate beneficiary designation with NYSLRS. A DRO may direct a … death benefit. The benefit is payable to the beneficiary(ies) designated by the member. For more …
https://www.osc.ny.gov/retirement/members/divorce/death-benefitsSubmitting a DRO – Divorce and Your Benefits
… A Domestic Relations Order (DRO), whether prepared using the … property and may be divided when a marriage ends Guide to Domestic Relations Orders Violating a DRO …
https://www.osc.ny.gov/retirement/members/divorce/submitting-droDetermining the Ex-spouse's Share – Divorce and Your Benefits
… member’s pension was earned during the marriage (marital share) by dividing years of service credit accrued during the … member and ex-spouse each receive one half of the marital share percentage. 1. Years of service credit accrued during marriage (numerator) = marital share Total service credit at time of retirement …
https://www.osc.ny.gov/retirement/members/divorce/determining-ex-spouses-shareOverview – Divorce and Your Benefits
… NYSLRS pensions are considered marital property and may be divided when a …
https://www.osc.ny.gov/retirement/members/divorce/overviewRetirement Estimates – Divorce and Your Benefits
… provided, the estimate will also include the total service credit accrued during the marriage. Include the date of … Equitable Distribution Estimates Unit 110 State Street Mail Drop 6-2 Albany, NY 12244-0001 Estimates for members …
https://www.osc.ny.gov/retirement/members/divorce/retirement-estimatesLegislative and Executive Retirement Plan For Tier 1 and 2 Members (Section 80-a)
… average of the previous two years by more than 20%, the amount in excess of 20% is excluded from the computation of … elected this plan before July 1, 1972, you will receive a pension equal to 1/40th (2.5%) of your FAS for each year of … this plan on or after July 1, 1972, you will receive a pension equal to 1/40 (2.5%) of your FAS for each year of …
https://www.osc.ny.gov/retirement/publications/legislative-and-executive-retirement-plan-tier-1-and-2-members-section-80Life Changes: Membership in a Nutshell
… Thomas P. DiNapoli I cannot stress enough how important it is for you to know how membership in the New York State and … receive as a NYSLRS member. Understanding these benefits is one of the first and most important steps in planning your future. Your Retirement System is here to assist you and answer any questions you may have. …
https://www.osc.ny.gov/retirement/publications/life-changes-membership-nutshellViolating the Terms of a DRO – Divorce and Your Benefits
NYSLRS pensions are considered marital property and may be divided when a marriage ends Guide to Domestic Relations Orders Violating a DRO
https://www.osc.ny.gov/retirement/members/divorce/violating-terms-droLife Changes: Getting Your Affairs in Order and A Guide for Survivors
… stocks, bonds and any other securities. Credit cards — account numbers, phone numbers and addresses. Online … make insurance or retirement benefit claims, or transfer account and title ownerships, so order several copies. In … the executor is. An executor will have to: Open a new bank account to hold any money due to the estate; Inventory the …
https://www.osc.ny.gov/retirement/publications/getting-your-affairs-order-and-guide-survivorsRequired Documentation
… credit cards; Records such as tax (W2 and 1099 forms), school, insurance, medical, military; Legal papers such as …
https://www.osc.ny.gov/unclaimed-funds/claimants/required-documentationLife Changes: How Do I Prepare to Retire?
… of our lives in retirement, it’s important to consider how you can enjoy financial security in your retirement. By … your address, beneficiaries or other similar information. If you have questions about the salary and service … with the exception of our New York City location, you do not need an appointment to drop off forms, pick up …
https://www.osc.ny.gov/retirement/publications/life-changes-how-do-i-prepare-retireAnnual Statement
… Statement: Sign in to Retirement Online . Look under My Account Summary . Click View My Retiree Annual Statement … Retirement Online Tools and Tips If you don’t have an account or for help signing in to an existing account, check out our Retirement Online tools and tips for …
https://www.osc.ny.gov/retirement/retirees/annual-statementCost-Saving Ideas: Monitoring Health Insurance Premiums for Retirees
… status; and review health insurance bills to compare social security numbers of eligible persons with the local … divorce, changes in dependents, address or phone number change). Social Security Association Death Master …
https://www.osc.ny.gov/local-government/publications/cost-saving-ideas-monitoring-health-insurance-premiums-retireesDivorce – Non-Contributory Plan with Guaranteed Benefits for ERS Tier 1 Members
… NonContributory Plan with Guaranteed Benefits information for ERS Tier 1 members under Sections 75d and 75e Divorce …
https://www.osc.ny.gov/retirement/publications/1502/divorceDivorce – Non-Contributory Plan with Guaranteed Benefits for ERS Tier 2 Members
… NonContributory Plan with Guaranteed Benefits information for ERS Tier 2 members under Sections 75d and 75e Divorce …
https://www.osc.ny.gov/retirement/publications/1507/divorceYour Retirement Benefits: Employees' Retirement System
Description of the New York State and Local Retirement System (NYSLRS) benefits for Employees' Retirement System (ERS) members.
https://www.osc.ny.gov/files/retirement/publications/pdf/1835-retirement-benefits-book.pdfYour Retirement Benefits: Police and Fire Retirement System
Description of the New York State and Local Retirement System (NYSLRS) benefits for Police and Fire Retirement System (PFRS) members.
https://www.osc.ny.gov/files/retirement/publications/pdf/1829-pfrs-benefits-book.pdfTier 2, 3, 5 and 6 Death Benefits – New Career Plan
… years of service, not to exceed three years of salary. For example, if you die after one year of service, your … with a salary of $60,000 $60,000 × 3 = $180,000 (reduction for working after age 60) − 10,800 (ordinary death benefit at … New Career Plan information for PFRS Tier 1 2 3 Article 11 5 and 6 members under Sections …
https://www.osc.ny.gov/retirement/publications/1515/tier-2-3-5-and-6-death-benefits