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Escalation – Article 14 Benefits

… 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/escalation

Retirement at Age 62 With Less Than 20 Years of Service – Article 14 Benefits

… At age 62, your service retirement benefit equals 2.1 percent … must be on file with the Office of the State Comptroller at least 15 days, but not more than 90 days, before the date …

https://www.osc.ny.gov/retirement/publications/1644/retirement-age-62-less-20-years-service

Early 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 of service credit plus an additional …

https://www.osc.ny.gov/retirement/publications/1644/early-retirement

Normal Retirement – Article 14 Benefits

… You can choose normal retirement or early retirement, but must be separated from service on the first … least 22 years of service credit, you can apply for normal retirement regardless of your age. The normal retirement …

https://www.osc.ny.gov/retirement/publications/1644/normal-retirement

Additional Service Credit for Sick Leave (Section 341[j]) – Article 14 Benefits

… to offer this benefit, you may receive service credit for your unused, unpaid sick leave days at retirement. To be eligible for this benefit, you must retire directly from public … unpaid sick leave days, which cannot exceed 165 (200 days for some members), by 260. Contact your employer or refer to …

https://www.osc.ny.gov/retirement/publications/1644/additional-service-credit-sick-leave-section-341j

Applying for Previous or Military Service Credit – Article 14 Benefits

… To receive credit for previous or military service, send a written request (which must be … it at a later date. You will stop making the 3 percent contributions sooner. Your retirement benefit will be …

https://www.osc.ny.gov/retirement/publications/1644/applying-previous-or-military-service-credit

Payment 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 … Past Service Costs: You joined the Retirement System on July 13, 2009, but your employer did not begin taking … for PFRS Tier 3 members Covers pension disability and death benefits …

https://www.osc.ny.gov/retirement/publications/1644/payment-service-credit

Leaves of Absence – Article 14 Benefits

… unpaid medical leaves of absence; or Unpaid leave under the federal Family and Medical Leave Act. Workers’ … Compensation leave. To determine your eligibility and the cost (if any), please send a request to the Retirement System for review. State Police employees will …

https://www.osc.ny.gov/retirement/publications/1644/leaves-absence

Withdrawing Your Contributions and/or Your Membership – Article 14 Benefits

… or Leave your contributions in your account and qualify for a retirement benefit when you become eligible. If you … have less than five years of service and do not qualify for a retirement benefit, you should file the Withdrawal … you do not withdraw your membership, make sure to apply for a retirement benefit when you become eligible. Once you …

https://www.osc.ny.gov/retirement/publications/1644/withdrawing-your-contributions-andor-your-membership

Becoming Eligible for a Benefit – Article 14 Benefits

… contributions, you will have earned the right to receive a pension once you meet the minimum requirement of five years … employment. Vesting is automatic — you do not have to fill out any paperwork or file an application to become vested. As … credit. The amount of your vested benefit will be based on your service, age at retirement and the salary you earned …

https://www.osc.ny.gov/retirement/publications/1644/becoming-eligible-benefit