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Borrowing Against Your Contributions – Article 14 Benefits
… If you meet eligibility requirements, you may take a loan from the Retirement System. Before you apply, you should … tax laws pertaining to Retirement System loans. Your loan will be taxable if: The loan amount exceeds federal limits. You have a loan with a …
https://www.osc.ny.gov/retirement/publications/1644/borrowing-against-your-contributionsChallenging a Determination – Article 14 Benefits
… call us at 1-866-805-0990 or 518-474-7736 in the Albany, New York area. … Article 14 information for PFRS Tier 3 …
https://www.osc.ny.gov/retirement/publications/1644/challenging-determinationAccidental Disability – Article 14 Benefits
… benefit. The Benefit This benefit is a pension equal to one-half (50 percent) of your FAS and is reduced by 100 percent of any Workers’ Compensation benefit payable and …
https://www.osc.ny.gov/retirement/publications/1644/accidental-disabilityOrdinary Disability – Article 14 Benefits
… service is defined as: When you are on your employer’s payroll; or When you are on an authorized medical leave of …
https://www.osc.ny.gov/retirement/publications/1644/ordinary-disabilityAccidental Death Benefit – Article 14 Benefits
… Learn more about escalation. ) The benefit is paid to your beneficiaries, in this order: To your surviving spouse, … age 21. The benefit will be divided equally among the beneficiaries in any one category if you have more than one … will be paid to the last eligible beneficiary or beneficiaries. If none exists, the benefit will be paid to …
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 …
https://www.osc.ny.gov/retirement/publications/1644/out-service-death-benefitOrdinary Death Benefit – Article 14 Benefits
… is limited by Section 130 of the Civil Service law. The first $50,000 of this benefit is paid in the form of group …
https://www.osc.ny.gov/retirement/publications/1644/ordinary-death-benefitAvailable Options – Article 14 Benefits
… beneficiary will receive the same monthly amount (without COLA) for life. If your beneficiary dies before you, all … receive a specific percentage of your benefit (without COLA) which you select (either 75, 50 or 25 percent) for his … the same monthly amount or one-half that amount (without COLA), depending on which option you elect, to your …
https://www.osc.ny.gov/retirement/publications/1644/available-optionsReceiving Your Benefit and Filing Your Option Election – Article 14 Benefits
… all of which will provide you with a monthly benefit for life. You may elect the Single Life Allowance, which provides the maximum amount payable … process your retirement as if you had selected the Single Life Allowance (Option 0). … Article 14 information for PFRS …
https://www.osc.ny.gov/retirement/publications/1644/receiving-your-benefit-and-filing-your-option-electionSocial Security Adjustment – Article 14 Benefits
… your Social Security benefit based on public employment in New York State. It is determined using your wages for service …
https://www.osc.ny.gov/retirement/publications/1644/social-security-adjustmentEscalation – 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
… of your FAS for each year of service credit. The benefit is reduced by 50 percent of your primary Social Security … Example: Retiring with 18 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/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 … exceed 50 percent of your FAS. When you turn 62, the early retirement benefit is reduced by 50 percent of your primary …
https://www.osc.ny.gov/retirement/publications/1644/early-retirementNormal Retirement – Article 14 Benefits
… retirement, but must be separated from service on the first of the month following the month you reach 62. With at …
https://www.osc.ny.gov/retirement/publications/1644/normal-retirementAdditional 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, …
https://www.osc.ny.gov/retirement/publications/1644/additional-service-credit-sick-leave-section-341jApplying for Previous or Military Service Credit – Article 14 Benefits
… than if you wait to purchase it at a later date. You will stop making the 3 percent contributions sooner. Your … … Article 14 information for PFRS Tier 3 members Covers pension disability and death benefits …
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
… and the cost, if any, please send us a copy of your Certificate of Release or Discharge from Active Duty (DD-214) … for PFRS Tier 3 members Covers pension disability and death benefits …
https://www.osc.ny.gov/retirement/publications/1644/credit-previous-or-military-serviceLeaves of Absence – Article 14 Benefits
… service is usually not credited for any period of time you do not receive a salary, credit is not given for: Leaves of … Medical Leave Act. Workers’ Compensation You may be able to receive credit for some or all of your Workers’ Compensation leave. To determine your eligibility and the cost (if any), please …
https://www.osc.ny.gov/retirement/publications/1644/leaves-absenceFull- and Part-Time 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/full-and-part-time-service-credit