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Escalation – Article 14 Benefits
… Once you become eligible for a cost-of-living adjustment (COLA), your benefit will include either the COLA or escalation (if eligible), whichever adjustment …
https://www.osc.ny.gov/retirement/publications/1644/escalationRetirement at Age 62 With Less Than 20 Years of Service – Article 14 Benefits
… age 62, your service retirement benefit equals 2.1 percent of your FAS for each year of service credit. The benefit is reduced by 50 percent of your primary Social Security benefit. Example: Retiring …
https://www.osc.ny.gov/retirement/publications/1644/retirement-age-62-less-20-years-serviceEarly Retirement – Article 14 Benefits
… With 20 years of service credit, you can apply for early retirement regardless of your age. The early retirement benefit equals 42 percent of your FAS for 20 years …
https://www.osc.ny.gov/retirement/publications/1644/early-retirementNormal Retirement – Article 14 Benefits
… but must be separated from service on the first of the month following the month you reach 62. With at least 22 years of service credit, you can apply for normal retirement regardless of your age. The normal retirement benefit equals 50 percent …
https://www.osc.ny.gov/retirement/publications/1644/normal-retirementAdditional Service Credit for Sick Leave (Section 341[j]) – Article 14 Benefits
… for this benefit, you must retire directly from public employment or within a year after separating from service. …
https://www.osc.ny.gov/retirement/publications/1644/additional-service-credit-sick-leave-section-341jApplying for Previous or Military Service Credit – Article 14 Benefits
… To receive credit for previous or military service, send a … request (which must be received before your effective date of retirement) to our Member & Employer Services Bureau. Include …
https://www.osc.ny.gov/retirement/publications/1644/applying-previous-or-military-service-creditPayment for Service Credit – Article 14 Benefits
… member covered 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 … contributions. Optional costs are payments you choose to make to purchase credit for a period of previous or …
https://www.osc.ny.gov/retirement/publications/1644/payment-service-creditCredit for Previous or Military Service – Article 14 Benefits
… service may be recredited and your date of membership and tier changed. If your previous membership was with another … Member & Employer Services Bureau. For reinstatement to Tier 1 or Tier 2, you must send us a completed Application …
https://www.osc.ny.gov/retirement/publications/1644/credit-previous-or-military-serviceEnding Your Membership – Article 14 Benefits
… withdraw your membership ; Transfer your membership to another retirement system; Retire; or Die. … Article 14 …
https://www.osc.ny.gov/retirement/publications/1644/ending-your-membershipWithdrawing Your Contributions and/or Your Membership – Article 14 Benefits
… less than ten, years of credited service, you may choose to: End your membership and withdraw your accumulated … retirement benefit when you become eligible. If you choose to withdraw, or you have less than five years of service and … and you do not withdraw your membership, make sure to apply for a retirement benefit when you become eligible. …
https://www.osc.ny.gov/retirement/publications/1644/withdrawing-your-contributions-andor-your-membershipBecoming Eligible for a Benefit – Article 14 Benefits
… to receive a pension once you meet the minimum requirement of five years of service credit, even if you discontinue your public … age is the age at which you would have completed 20 years of service credit. The amount of your vested benefit will be …
https://www.osc.ny.gov/retirement/publications/1644/becoming-eligible-benefitContributing Toward Your Retirement – Article 14 Benefits
… of your gross earnings toward your retirement benefits for 25 years or until retirement, whichever is earlier. If … contributions are reportable for federal income tax only when you withdraw or retire from the Retirement System. … for any other tax-deferred plan. *IRC Section 414(h) does not apply to PFRS member contributions made prior to …
https://www.osc.ny.gov/retirement/publications/1644/contributing-toward-your-retirementTier 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 …
https://www.osc.ny.gov/retirement/publications/1644/tier-statusRetirement System Membership – Article 14 Benefits
… paid firefighters working for employers that participate in the New York State and Local Police and Fire Retirement …
https://www.osc.ny.gov/retirement/publications/1644/retirement-system-membershipStay Informed – Article 14 Benefits
… or in the event of disability or death. Use these tips to help you understand your benefits and stay informed. … if you leave public employment before you are eligible to retire. Subscribe to our blog, New York Retirement News , … NYSLRS news and information dedicated to pre-retirement planning. Read your member newsletter, The Sentinel , for …
https://www.osc.ny.gov/retirement/publications/1644/stay-informedReceiving Your Benefits – Article 14 Benefits
… Article 14 information for PFRS Tier 3 members Covers pension disability and death benefits …
https://www.osc.ny.gov/retirement/publications/1644/receiving-your-benefitsDeath Benefits – Article 14 Benefits
… Article 14 information for PFRS Tier 3 members Covers pension disability and death benefits …
https://www.osc.ny.gov/retirement/publications/1644/death-benefitsDisability Retirement Benefits – Article 14 Benefits
… Article 14 information for PFRS Tier 3 members Covers pension disability and death benefits …
https://www.osc.ny.gov/retirement/publications/1644/disability-retirement-benefitsVested Retirement Benefit – Article 14 Benefits
… Article 14 information for PFRS Tier 3 members Covers pension disability and death benefits …
https://www.osc.ny.gov/retirement/publications/1644/vested-retirement-benefitItems That May Affect Your Pension – Article 14 Benefits
… Article 14 information for PFRS Tier 3 members Covers pension disability and death benefits …
https://www.osc.ny.gov/retirement/publications/1644/items-may-affect-your-pension