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Available Options – Article 14 Benefits

… maximum benefit payment to you each month for the rest of your life. Under this selection, all payments cease upon your death. When you die (even if it is only one year, or … option will provide you with a reduced monthly benefit for your lifetime, and is based on your birth date and that of …

https://www.osc.ny.gov/retirement/publications/1644/available-options

Social Security Adjustment – Article 14 Benefits

… disability retirements. … Article 14 information for PFRS Tier 3 members Covers pension disability and death benefits …

https://www.osc.ny.gov/retirement/publications/1644/social-security-adjustment

Escalation – Article 14 Benefits

… it will increase or decrease each April at a rate equal to the increase or decrease in the cost-of-living index or 3 … you begin collecting your service retirement benefit prior to the full escalation date, your benefit may be eligible for … by 1/36th. If you retire more than three years prior to the full escalation date, your benefit will not be …

https://www.osc.ny.gov/retirement/publications/1644/escalation

Retirement at Age 62 With Less Than 20 Years of Service – Article 14 Benefits

… Your Application for Service Retirement (RS6037) must be on file with the Office of the State Comptroller at least 15 days, but not more than 90 days, before the date on which your retirement will occur. … Article 14 information …

https://www.osc.ny.gov/retirement/publications/1644/retirement-age-62-less-20-years-service

Early Retirement – Article 14 Benefits

… With 20 years of service credit, you can apply for early retirement regardless of your age. The early retirement … Example: Retiring with 21 years of credited service and a $60,000 FAS Estimated primary Social Security benefit = … … Article 14 information for PFRS Tier 3 members Covers pension disability and death benefits …

https://www.osc.ny.gov/retirement/publications/1644/early-retirement

Normal Retirement – Article 14 Benefits

… You can choose normal retirement or early retirement, but must be separated from … partial escalation. If you retire with at least 22 years and 1 month of service credit, but less than 25 years, you … … Article 14 information for PFRS Tier 3 members Covers pension disability and death benefits …

https://www.osc.ny.gov/retirement/publications/1644/normal-retirement

Additional Service Credit for Sick Leave (Section 341[j]) – Article 14 Benefits

… and Social Security Law (RSSL) provides an optional sick leave benefit. If your employer has chosen to offer this benefit, you may receive service credit for your unused, unpaid sick leave days at retirement. To be eligible …

https://www.osc.ny.gov/retirement/publications/1644/additional-service-credit-sick-leave-section-341j

Applying for Previous or Military Service Credit – Article 14 Benefits

… To receive credit for previous or military service, send a written request (which must be received before your effective date of retirement) to our Member & Employer Services Bureau. Include … retirement benefit will be processed more quickly if your service credit is in order. Records we need to verify your …

https://www.osc.ny.gov/retirement/publications/1644/applying-previous-or-military-service-credit

Payment for Service Credit – Article 14 Benefits

… by Article 14, you will usually be required to pay for service currently not credited to you. There are two kinds of past service costs — mandatory and optional. Mandatory costs are … Example of Mandatory Past Service Costs: You joined the Retirement System on July 13, 2009, but your employer did not …

https://www.osc.ny.gov/retirement/publications/1644/payment-service-credit

Credit for Previous or Military Service – Article 14 Benefits

… employer before that employer elected to participate in the Retirement System. To receive this credit, you must … member of this System, or another public retirement system in New York State, your service may be recredited and your …

https://www.osc.ny.gov/retirement/publications/1644/credit-previous-or-military-service

Leaves of Absence – Article 14 Benefits

… Half credit is given for sick leave at half pay. Since service is usually not credited for any period of time you do not receive a salary, credit is not given for: Leaves of absence without pay; Authorized, unpaid medical leaves of …

https://www.osc.ny.gov/retirement/publications/1644/leaves-absence

Ending Your Membership – Article 14 Benefits

… employment means paid service as an officer or employee of an employer that participates in the New York State and Local Retirement System; Have less than ten years of service credit, leave public employment for at least 15 …

https://www.osc.ny.gov/retirement/publications/1644/ending-your-membership

Withdrawing Your Contributions and/or Your Membership – Article 14 Benefits

… If you leave public employment with at least five, but less than ten, years of … (RS5014) no earlier than 15 days after you leave public employment. If you have at least five years of credited …

https://www.osc.ny.gov/retirement/publications/1644/withdrawing-your-contributions-andor-your-membership

Becoming Eligible for a Benefit – Article 14 Benefits

… As a vested member, you may leave public employment and, at a later date, apply for and receive a vested retirement benefit . You can choose … when you were an active member. … Article 14 information for PFRS Tier 3 members Covers pension disability and death …

https://www.osc.ny.gov/retirement/publications/1644/becoming-eligible-benefit

Contributing Toward Your Retirement – Article 14 Benefits

… You are required to contribute 3 percent of your gross earnings toward your retirement benefits for 25 … and Local Retirement System, and used in the calculation of all benefits paid by the Retirement System; and Calculated … to October 1, 2013 and is not retroactive. Page updated as of 11/13 … Article 14 information for PFRS Tier 3 members …

https://www.osc.ny.gov/retirement/publications/1644/contributing-toward-your-retirement

Tier Status – Article 14 Benefits

… When you join the Retirement System, you are assigned to a tier depending on your date of membership. You are a Tier 3 member covered by Article 14 if you joined the Police … 2010, you did not elect to be covered by Article 22 (Tier 5) benefits and you: Elected coverage under your employer’s …

https://www.osc.ny.gov/retirement/publications/1644/tier-status

Retirement System Membership – Article 14 Benefits

… Police officers and paid firefighters working for employers that participate in the New York State and Local Police and Fire Retirement System (PFRS) must become members of the …

https://www.osc.ny.gov/retirement/publications/1644/retirement-system-membership

Stay Informed – Article 14 Benefits

… security in retirement or in the event of disability or death. Use these tips to help you understand your benefits … of mailing forms or calling NYSLRS. Members can view benefit information, update contact information, view and … for PFRS Tier 3 members Covers pension disability and death benefits …

https://www.osc.ny.gov/retirement/publications/1644/stay-informed