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Administration of Contract C007373 With the Institute for Community Living
… effectively administering its contract with the Institute for Community Living (ICL) by ensuring that contracted services were actually provided, and that only appropriate and supported expenses were … The audit covered ICL’s Consolidated Fiscal Report (CFR) for the contract year ended June 30, 2014. We also performed …
https://www.osc.ny.gov/state-agencies/audits/2016/12/30/administration-contract-c007373-institute-community-livingDivorce – Article 14 Benefits
… The New York State Court of Appeals has determined that retirement benefits are … distribution. Equitable distribution is the division of marital assets between spouses after the marriage has ended. This division must be stated in the form of a Domestic Relations Order (DRO) if we are to pay a …
https://www.osc.ny.gov/retirement/publications/1644/divorceCost-of-Living Adjustment – Article 14 Benefits
… Once you meet the eligibility requirements, including age and number of years retired, your retirement benefit 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 more years; or Receiving a disability pension for …
https://www.osc.ny.gov/retirement/publications/1644/cost-living-adjustmentBorrowing 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 … loan at least once every three months or do not complete payment within five years from the date the loan was issued. …
https://www.osc.ny.gov/retirement/publications/1644/borrowing-against-your-contributionsIRS Pension Limitation – Article 14 Benefits
… that qualified pension plans, including the New York State and Local Retirement System, may use in calculating 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
… calculated, you may request a hearing and redetermination to be held before a hearing officer. Your request must be in …
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 … rights and responsibilities, and is not a substitute for any New York State or federal law. For specific information about your benefits, please contact …
https://www.osc.ny.gov/retirement/publications/1644/more-about-retirement-planAccidental Disability – Article 14 Benefits
… benefit if: You are unable to perform your duties because of a permanent physical or mental incapacity and It is … that the disability is the natural and proximate result of an accident sustained in the performance of duties not caused by your own willful negligence. or You …
https://www.osc.ny.gov/retirement/publications/1644/accidental-disabilityOrdinary Disability – Article 14 Benefits
… Eligibility To qualify for the ordinary disability retirement benefit, you must: Be … or mental incapacity; Have five years of credited service; and Be eligible for primary Social Security disability benefits. The Benefit …
https://www.osc.ny.gov/retirement/publications/1644/ordinary-disabilityAccidental Death Benefit – Article 14 Benefits
… Eligibility Regardless of your years of service credit, if you die as the natural and proximate result of an on-the-job accident, not due to your own willful …
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 percent of the ordinary death benefit may still be payable. This … benefit may also be payable if you die within one year of leaving covered service but were gainfully employed during …
https://www.osc.ny.gov/retirement/publications/1644/out-service-death-benefitOrdinary Death Benefit – Article 14 Benefits
… of service and your death occurs: While you are on the payroll; or While you are on an authorized medical leave for …
https://www.osc.ny.gov/retirement/publications/1644/ordinary-death-benefitAvailable Options – Article 14 Benefits
… the maximum benefit payment to you each month for the rest of your life. Under this selection, all payments cease upon … benefit for your lifetime, and is based on your birth date and that of your beneficiary. After your death, your … soundness. *If you elect this option, you must submit proof of your beneficiary’s birth date. You can designate …
https://www.osc.ny.gov/retirement/publications/1644/available-optionsSocial Security Adjustment – Article 14 Benefits
… 62, your pension will be reduced by one-half (50 percent) of the primary Social Security benefit — regardless of whether you are actually collecting a benefit from Social … for service with a public employer for which you received retirement credit. The primary Social Security benefit may …
https://www.osc.ny.gov/retirement/publications/1644/social-security-adjustmentEscalation – 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/escalationRetirement at Age 62 With Less Than 20 Years of Service – Article 14 Benefits
… service retirement benefit equals 2.1 percent of your FAS for each year of service credit. The benefit is reduced by 50 … Example: Retiring with 18 years of credited service and a $60,000 FAS Estimated primary Social Security benefit = … Annual Benefit — No Escalation Filing Your Application for Service Retirement (RS6037) must be on file with the …
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 …
https://www.osc.ny.gov/retirement/publications/1644/early-retirementNormal Retirement – Article 14 Benefits
… your FAS. When you turn 62, the normal retirement benefit is reduced by 50 percent of your primary Social Security …
https://www.osc.ny.gov/retirement/publications/1644/normal-retirementLeaves of Absence – Article 14 Benefits
… of absence; or Unpaid leave under the federal Family and Medical Leave Act. Workers’ Compensation You may be able to receive credit for some or all of your Workers’ Compensation leave. To determine … for review. State Police employees will receive up to one year of service credit per incident while on Workers’ …
https://www.osc.ny.gov/retirement/publications/1644/leaves-absenceEnding Your Membership – Article 14 Benefits
… Once you join the Retirement System, your membership cannot end … employee of an employer that participates in the New York State and Local Retirement System; Have less than ten years of service credit, leave public employment for at least 15 days and voluntarily withdraw your …
https://www.osc.ny.gov/retirement/publications/1644/ending-your-membership