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Final Average Salary – Article 14 Benefits
… average salary (FAS). FAS is the average of the wages you earned during any 36 consecutive months of service when your … certain restrictions may apply. Regular salary; Overtime earned in the FAS period; Holiday pay; Noncompensatory overtime earned in the FAS period; Longevity payments (maximum of …
https://www.osc.ny.gov/retirement/publications/1644/final-average-salaryService Credit – Article 14 Benefits
… for PFRS Tier 3 members Covers pension disability and death benefits …
https://www.osc.ny.gov/retirement/publications/1644/service-creditAbout Your Membership – Article 14 Benefits
… for PFRS Tier 3 members Covers pension disability and death benefits …
https://www.osc.ny.gov/retirement/publications/1644/about-your-membershipA Message From Comptroller Thomas P. DiNapoli – Article 14 Benefits
… working for a public employer or, if eligible, after you leave public employment (death benefits); and Benefits you may receive at a later date, even if you leave public service before you become eligible to retire …
https://www.osc.ny.gov/retirement/publications/1644/message-comptroller-thomas-p-dinapoliAvailable Options – Article 14 Benefits
… Article 14 information for PFRS Tier 3 members Covers pension …
https://www.osc.ny.gov/retirement/publications/1644/available-optionsSocial Security Adjustment – Article 14 Benefits
… in New York State. It is determined using your wages for service with a public employer for which you received retirement credit. The primary Social … Article 14 information for PFRS Tier 3 members Covers pension disability and death benefits …
https://www.osc.ny.gov/retirement/publications/1644/social-security-adjustmentEscalation – Article 14 Benefits
… The full escalation date for a service retirement is the first day of the month following the date you complete or would … The full escalation date for a disability benefit is the first day of the month following the date you become eligible …
https://www.osc.ny.gov/retirement/publications/1644/escalationRetirement at Age 62 With Less Than 20 Years of Service – Article 14 Benefits
… At age 62, your service retirement benefit equals 2.1 percent of your FAS for each year of service credit. The benefit is … of your primary Social Security benefit. Example: Retiring with 18 years of credited service and a $60,000 FAS Estimated …
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
… With at least 22 years of service credit, you can apply for normal retirement regardless of your age. The normal … Security benefit. Your retirement benefit may be eligible for escalation — the annual increase or decrease of a … on the cost-of-living index. Some benefits are eligible for full escalation, while others are eligible for partial …
https://www.osc.ny.gov/retirement/publications/1644/normal-retirementAdditional Service Credit for Sick Leave (Section 341[j]) – Article 14 Benefits
… Section 341(j) of the Retirement and Social Security Law (RSSL) provides an optional sick leave benefit. If your employer has chosen to offer this benefit, … service credit for your unused, unpaid sick leave days at retirement. To be eligible for this benefit, you must retire …
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 written request (which must be received before your … & Employer Services Bureau. Include as much information as you can about the period of employment for which you are seeking credit. We will determine your eligibility and any cost involved. …
https://www.osc.ny.gov/retirement/publications/1644/applying-previous-or-military-service-creditPayment for Service Credit – 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/payment-service-creditCredit for Previous or Military Service – Article 14 Benefits
… Article 14 information for PFRS Tier 3 members Covers pension …
https://www.osc.ny.gov/retirement/publications/1644/credit-previous-or-military-serviceLeaves of Absence – Article 14 Benefits
… Article 14 information for PFRS Tier 3 members Covers pension …
https://www.osc.ny.gov/retirement/publications/1644/leaves-absenceEnding Your Membership – Article 14 Benefits
… as an officer or employee of an employer that participates in the New York State and Local Retirement System; Have less …
https://www.osc.ny.gov/retirement/publications/1644/ending-your-membershipWithdrawing Your Contributions and/or Your Membership – Article 14 Benefits
… If you leave public employment with at least five, but less than ten, years of credited service, you may choose to: End your membership and withdraw your … in your account and qualify for a retirement benefit when you become eligible. If you choose to withdraw, or you have …
https://www.osc.ny.gov/retirement/publications/1644/withdrawing-your-contributions-andor-your-membershipBecoming Eligible for a Benefit – Article 14 Benefits
… may leave public employment and, at a later date, apply for and receive a vested retirement benefit . You can choose … Article 14 information for PFRS Tier 3 members Covers pension disability and death …
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 … are distributed to you. These contributions are reportable for federal income tax only when you withdraw or retire from … on or after October 1, 2013* are: Not reported as wages for federal income tax; Reported as wages for New York State …
https://www.osc.ny.gov/retirement/publications/1644/contributing-toward-your-retirementTier Status – Article 14 Benefits
… after July 1, 2009 but before January 9, 2010, you did not elect to be covered by Article 22 (Tier 5) benefits and you: … joined July 1, 2009 through January 8, 2010 and did not elect to be covered by Article 22 (opt into Tier 5), can be …
https://www.osc.ny.gov/retirement/publications/1644/tier-status