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Article 15 Disability – Coordinated Plan For ERS Tier 5 Members
Coordinated Plan information for ERS Tier 5 members under Article 15 Article 15 Disability
https://www.osc.ny.gov/retirement/publications/1523/article-15-disabilityIRS Pension Limitation – Coordinated Plan For ERS Tier 5 Members
Coordinated Plan information for ERS Tier 5 members under Article 15 IRS Pension Limitation
https://www.osc.ny.gov/retirement/publications/1523/irs-pension-limitationVested Retirement Benefit – Coordinated Plan For ERS Tier 5 Members
… … Coordinated Plan information for ERS Tier 5 members under Article 15 Vested Retirement …
https://www.osc.ny.gov/retirement/publications/1523/vested-retirement-benefitEligibility, Your Vested Benefit and Filing – Article 14 Benefits
… credit. The amount of your vested benefit will be based on your service, age at retirement and the salary you earned … of service. If you choose to begin receiving your benefit on or after age 55 but before your early retirement age, your …
https://www.osc.ny.gov/retirement/publications/1644/eligibility-your-vested-benefit-and-filingDivorce – Article 14 Benefits
… designations for certain benefits are revoked when a divorce, annulment or judicial separation becomes final. An … on how your pension benefits can be affected by divorce, consult your attorney, contact our Matrimonial … our guide to Domestic Relations Orders and review our Divorce FAQs . … Article 14 information for PFRS Tier 3 …
https://www.osc.ny.gov/retirement/publications/1644/divorceCost-of-Living Adjustment – Article 14 Benefits
… the eligibility requirements, including age and number of years retired, your retirement benefit will permanently … year. You will begin receiving COLA when you are: 62 or older and retired for five or more years; or 55 or older and retired for ten or …
https://www.osc.ny.gov/retirement/publications/1644/cost-living-adjustmentBorrowing Against Your Contributions – Article 14 Benefits
… of the federal tax laws pertaining to Retirement System loans. Your loan will be taxable if: The loan amount exceeds … your loan to exceed the federal limits for nontaxable loans. Exceeding these limits could result in significant tax … if refinancing your current loan or carrying multiple loans would be better for you. Although the repayment amount …
https://www.osc.ny.gov/retirement/publications/1644/borrowing-against-your-contributionsIRS Pension Limitation – Article 14 Benefits
… amount is set by federal law and is periodically adjusted for inflation. … Article 14 information for PFRS Tier 3 members Covers pension disability and death …
https://www.osc.ny.gov/retirement/publications/1644/irs-pension-limitationChallenging a Determination – Article 14 Benefits
… We can pay only those benefits authorized by law, and cannot pay you any benefits if you do not meet all the … denied or improperly calculated, you may request a hearing and redetermination to be held before a hearing officer. Your request must be in writing and filed with the Hearing Administration Bureau within four …
https://www.osc.ny.gov/retirement/publications/1644/challenging-determinationMore About This Retirement Plan – Article 14 Benefits
… benefits provided by Article 14 of the Retirement and Social Security Law (RSSL) as enacted by the New York … These benefits are available to Tier 3 New York State and Local Police and Fire Retirement System members who joined on or after …
https://www.osc.ny.gov/retirement/publications/1644/more-about-retirement-planAccidental Death Benefit – Article 14 Benefits
… Eligibility Regardless of your years of service credit, if you die as the natural and … equal to one-half (50 percent) of your FAS and is eligible for full escalation. ( Learn more about escalation. ) The benefit is paid to your beneficiaries, in this order: To your surviving spouse, …
https://www.osc.ny.gov/retirement/publications/1644/accidental-death-benefitOut-of-Service Death Benefit – Article 14 Benefits
… If you are a vested member with at least ten years of credited service, have not retired and you die more than one year after leaving public employment, 50 … should notify us of your death as soon as possible so we can send the appropriate forms to your beneficiary. … Article …
https://www.osc.ny.gov/retirement/publications/1644/out-service-death-benefitOrdinary Death Benefit – Article 14 Benefits
… Service law. The first $50,000 of this benefit is paid in the form of group term life insurance, which is currently …
https://www.osc.ny.gov/retirement/publications/1644/ordinary-death-benefitAvailable Options – Article 14 Benefits
… Single Life Allowance (Option 0) This is the basic retirement benefit. It provides for the maximum benefit payment to you … life. Under this selection, all payments cease upon your death. When you die (even if it is only one year, or sooner, …
https://www.osc.ny.gov/retirement/publications/1644/available-optionsReceiving Your Benefit and Filing Your Option Election – Article 14 Benefits
… to a designated beneficiary after your death. Filing Your Option Election You must file your Option Election form (unless notified otherwise, as in the … If you are a disability retiree, you may change your option selection up to 30 days after your disability …
https://www.osc.ny.gov/retirement/publications/1644/receiving-your-benefit-and-filing-your-option-electionSocial Security Adjustment – Article 14 Benefits
… retirement credit. The primary Social Security benefit may not be the same as your actual Social Security benefit. This …
https://www.osc.ny.gov/retirement/publications/1644/social-security-adjustmentEscalation – Article 14 Benefits
… Escalation is the annual increase or decrease of a benefit, based on the cost-of-living index. Service retirement benefits can be eligible for either full or … each April at a rate equal to the increase or decrease in the cost-of-living index or 3 percent, whichever is less. …
https://www.osc.ny.gov/retirement/publications/1644/escalationRetirement at Age 62 With Less Than 20 Years of Service – Article 14 Benefits
… credit. The benefit is reduced by 50 percent of your primary Social Security benefit. Example: Retiring with 18 years of credited service and a $60,000 FAS Estimated primary Social Security benefit = $12,000 2.1 percent × 18 = … × $60,000 = $22,680 $12,000 × 50 percent = $6,000 Primary Social Security Benefit Reduction $22,680 − $6,000 = …
https://www.osc.ny.gov/retirement/publications/1644/retirement-age-62-less-20-years-serviceEarly Retirement – 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/early-retirementNormal Retirement – Article 14 Benefits
… You can choose normal retirement or early retirement, but … 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. …
https://www.osc.ny.gov/retirement/publications/1644/normal-retirement