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Available Options – Article 14 Benefits
… or sooner, after retiring), nothing will be paid to any beneficiary. Joint Allowance — Full* This option will provide … lifetime, and is based on your birth date and that of your beneficiary. After your death, your beneficiary will receive the same monthly amount (without …
https://www.osc.ny.gov/retirement/publications/1644/available-optionsBorrowing Against Your Contributions – Article 14 Benefits
… are under 59½ at the time, you may be required to pay a 10 percent penalty tax in addition to any ordinary federal … Loan Balance Annual Pension Reduction 45 $5,000 $232 $10,000 $464 55 $5,000 $279 $10,000 $558 65 $5,000 $364 $10,000 $728 Page updated 3/13 …
https://www.osc.ny.gov/retirement/publications/1644/borrowing-against-your-contributionsPartial Lump Sum Payment – Special 20- and 25-Year Plans
… Eligible PFRS members can elect to receive a partial lump sum (PLS) payment at retirement. If you elect a PLS payment, your monthly benefit … Amounts The amount of the PLS payment available to you is a percentage of the total actuarial value of your …
https://www.osc.ny.gov/retirement/publications/1517/partial-lump-sum-paymentPartial Lump Sum Payment – State Police Plan
… PFRS members can elect to receive a partial lump sum (PLS) payment at retirement. If you elect a PLS payment, your monthly benefit will be permanently reduced . … you will receive your PLS along with your first pension payment, at the end of the month following your retirement …
https://www.osc.ny.gov/retirement/publications/1518/partial-lump-sum-paymentContributing Toward Your Retirement – Special 20- and 25-Year Plans
… also be subject to a tax penalty. Please read the election form carefully before submitting and speak to a tax advisor … unless your plan limits creditable service to 20, 25 or 32 years.* In that case, you won’t contribute after the … unless your plan limits creditable service to 20, 25 or 32 years.* In that case, you won’t contribute after the …
https://www.osc.ny.gov/retirement/publications/1517/contributing-toward-your-retirementTaxes and Your Pension
… are not subject to New York State or local income tax. If you permanently moved to another state or if you spend more than 183 days in that state, your pension may … withholding status of “single with no adjustments” unless you inform us otherwise. The amount withheld is based on the …
https://www.osc.ny.gov/retirement/retirees/taxes-and-your-pensionLife Changes: Membership in a Nutshell
… or stop voluntary contributions by filing the appropriate form with your payroll office. If you stop voluntary … revised publications. Subscribe to our email newsletter, E-News , to receive the retirement information you need in a … your address. Subscribe to our blog, New York Retirement News , where you’ll find articles to help you understand your …
https://www.osc.ny.gov/retirement/publications/life-changes-membership-nutshellBecoming Eligible for a Benefit – Article 14 Benefits
… to begin receiving your vested retirement benefit at your early retirement age or when you reach age 55. Your early retirement age is the age at which you would have …
https://www.osc.ny.gov/retirement/publications/1644/becoming-eligible-benefitMaking Adjustments to Earnings and Days Worked – Enhanced Reporting
… If you need to correct a member’s earnings or days worked, submit an … add or subtract from the previously reported data in order to correct it in our system – Retirement Online will not … in a future annual bill. Do not make an adjustment to a member’s SCP, loan payments or contributions. These …
https://www.osc.ny.gov/retirement/employers/enhanced-reporting/making-adjustments-earnings-and-days-workedWithdrawing Your Contributions and/or Your Membership – State Police Plan
… Sign in to your Retirement Online account , go to the ‘My Account Summary’ area of your Account Homepage and click “Withdraw My Membership.” You can also apply by mail by submitting a … account. If you qualify for a retirement benefit and you do not withdraw your membership, you may apply for a …
https://www.osc.ny.gov/retirement/publications/1518/withdrawing-your-contributions-andor-your-membershipEligibility, Your Vested Benefit and Filing – Article 14 Benefits
… pension at the earliest possible date, file a retirement application within 90 days before you first become eligible. If we receive your retirement application after you first become eligible, your vested retirement is effective the date the application is received. Remember, it is up to you to file a …
https://www.osc.ny.gov/retirement/publications/1644/eligibility-your-vested-benefit-and-filingPayment for Service Credit – Article 14 Benefits
… covered by Article 14, you will usually be required to pay for service currently not credited to you. There are two … — mandatory and optional. Mandatory costs are required for service credit you earned as a member but for which you made no (or insufficient) contributions. …
https://www.osc.ny.gov/retirement/publications/1644/payment-service-creditStraight Talk About Financial Planning For Your Retirement
… It includes information about your retirement benefits, as well as tips on how to develop a well-rounded financial plan. Your … two months. Include expenses that occur periodically, such as car and life insurance, and property and school taxes. … publication includes information about NYSLRS benefits as well as financial planning tips …
https://www.osc.ny.gov/retirement/publications/straight-talk-about-financial-planning-your-retirementBecoming Eligible for a Benefit – En-Con Police Officers Plan
… 25 years of En-Con police service, or you may qualify for a service retirement if you reach age 60 before having … EnCon Police Officers Plan information for PFRS Tier 1 2 3 5 and 6 members covered by Section 383b …
https://www.osc.ny.gov/retirement/publications/1822/becoming-eligible-benefitReceiving Your Benefit and Filing Your Option Election – En-Con Police Officers Plan
… all of which will provide you with a monthly benefit for life. For example, you may elect the Single Life Allowance, which … lifetime, with nothing payable to a beneficiary upon your death. Or, you may elect to receive a smaller monthly benefit … EnCon Police Officers Plan information for PFRS Tier 1 2 3 5 and 6 members covered by Section 383b …
https://www.osc.ny.gov/retirement/publications/1822/receiving-your-benefit-and-filing-your-option-electionFiling Requirements – World Trade Center Presumption
… for World Trade Center Notice (RS6047-N) by September 11, 2026. Filing this Notice will protect your rights, and the … Trade Center Notice (RS6047-N) on or before September 11, 2026 to preserve your rights in the future. If You Have …
https://www.osc.ny.gov/retirement/publications/world-trade-center/filing-requirementsReceiving Your Benefit and Filing Your Pension Payment Option Election – State Police Plan
… affect your potential benefit, and then save or print it. Sign in to your Retirement Online account , go to the ‘My … by the end of the month in which you retire. You have up to 30 days after your pension benefit becomes payable to … a disability retiree, you may change your option selection up to 30 days after your disability application is approved, …
https://www.osc.ny.gov/retirement/publications/1518/receiving-your-benefit-and-filing-your-pension-payment-option-electionReceiving Your Benefit and Filing Your Pension Payment Option Election – Special 20- and 25-Year Plans
… affect your potential benefit, and then save or print it. Sign in to your Retirement Online account , go to the ‘My … by the end of the month in which you retire. You have up to 30 days after your pension benefit becomes payable to … a disability retiree, you may change your option selection up to 30 days after your disability application is approved, …
https://www.osc.ny.gov/retirement/publications/1517/receiving-your-benefit-and-filing-your-pension-payment-option-electionOrdinary Disability – En-Con Police Officers Plan
… This benefit is available to you only if you last joined the Police and Fire Retirement … of duty and the En-Con police disability benefits are available. Eligibility If you are unable to perform your … be submitted while you are in service or within 90 days from the date you: Are last paid on the payroll; Are last on …
https://www.osc.ny.gov/retirement/publications/1822/ordinary-disabilityState Police Disability (Section 363-b) – State Police Plan
… Security disability benefit cannot exceed your final salary. If it does, the portion that exceeds your final salary will be suspended. The law defines “final salary” as the maximum salary or compensation you would have …
https://www.osc.ny.gov/retirement/publications/1518/state-police-disability-section-363-b