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Borrowing Against Your Contributions – Regional State Park Police Plan
… loan balance at retirement. The approximate reductions are for calendar year 2017. The amount of the reduction changes … that causes your loan to exceed the federal limits for nontaxable loans. Exceeding these limits could result in significant tax consequences for you. You do not make the required payments on your loan …
https://www.osc.ny.gov/retirement/publications/1867/borrowing-against-your-contributionsBorrowing Against Your Contributions – Police and Fire Plan
… You may borrow only once in any 90-day period. Prior to retirement, and 30 days after issuance, loans are fully … with an outstanding loan, the annuity portion of your retirement benefit will be permanently reduced . You cannot … reduction will be based on your age, the loan balance at retirement and type of retirement (service or disability). …
https://www.osc.ny.gov/retirement/publications/1512/borrowing-against-your-contributionsBorrowing Against Your Contributions – En-Con Police Officers Plan
… payment goes down. With a refinanced loan , you add the new loan amount to your existing balance and refinance the entire amount as one new loan. The minimum repayment amount for a refinanced loan …
https://www.osc.ny.gov/retirement/publications/1822/borrowing-against-your-contributionsBorrowing Against Your Contributions – New Career Plan
… or disability). The loan application provides examples of how much your reduction would be. How Much You Can Borrow The minimum loan is $25. The maximum …
https://www.osc.ny.gov/retirement/publications/1515/borrowing-against-your-contributionsBorrowing Against Your Contributions – Non-Contributory Plan with Guaranteed Benefits
… loan balance at retirement. The approximate reductions are for calendar year 2017. The amount of the reduction changes … that causes your loan to exceed the federal limits for nontaxable loans. Exceeding these limits could result in significant tax consequences for you. You do not make the required payments on your loan …
https://www.osc.ny.gov/retirement/publications/1513/borrowing-against-your-contributionsBorrowing Against Your Contributions – Basic Plan with Increased-Take-Home-Pay (ITHP)
… or disability). The loan application provides examples of how much your reduction would be. How Much You Can Borrow The minimum loan is $25. The maximum …
https://www.osc.ny.gov/retirement/publications/1511/borrowing-against-your-contributionsCredit for Military or Additional Service – State Police Plan
… You may be able to receive credit toward your retirement benefit for military service or other public … Forces, you may be eligible to purchase credit toward your retirement benefit for your military service. Military … were a member of NYSLRS or another public retirement system in New York State, your service may be recredited and …
https://www.osc.ny.gov/retirement/publications/1518/credit-military-or-additional-serviceCredit for Military or Additional Service – Special 20- and 25-Year Plans
… You may be able to receive credit toward your retirement benefit for military service or other public … Forces, you may be eligible to purchase credit toward your retirement benefit for your military service. Military … were a member of NYSLRS, or another public retirement system in New York State, your service may be recredited and …
https://www.osc.ny.gov/retirement/publications/1517/credit-military-or-additional-serviceAvailable Options – Career Plan
… Single Life Allowance (Option 0) This is the basic retirement … life. Under this selection, all payments cease upon your death. When you die (even if it is only one year, or sooner, … your death. The mandatory contributions made by Tier 5 and 6 members are not annuity savings contributions. Cash …
https://www.osc.ny.gov/retirement/publications/1642/available-optionsAvailable Options – Regional State Park Police Plan
… Single Life Allowance (Option 0) This is the basic retirement benefit. It provides the maximum benefit payment … lifetime. It guarantees that if you die before receiving retirement benefit payments that equal the initial value of … “Initial value” is an actuarial term for the value of your retirement benefit at the time of retirement. If you live …
https://www.osc.ny.gov/retirement/publications/1867/available-optionsAvailable Options – Police and Fire Plan
… Single Life Allowance (Option 0) This is the basic retirement … life. Under this selection, all payments cease upon your death. When you die (even if it is only one year, or sooner, … upon your death. The contributions required of Tier 5 and 6 members are not annuity savings contributions. Cash …
https://www.osc.ny.gov/retirement/publications/1512/available-optionsAvailable Options – En-Con Police Officers Plan
… Single Life Allowance (Option 0) This is the basic retirement … life. Under this selection, all payments cease upon your death. When you die (even if it is only one year, or sooner, … your death. The mandatory contributions made by Tier 5 and 6 members are not annuity savings contributions. Cash …
https://www.osc.ny.gov/retirement/publications/1822/available-optionsAvailable Options – New Career Plan
… It provides the maximum benefit payment to you each month for the rest of your life. Under this selection, all payments cease upon your death. When you die (even if it is only one year, or sooner, … only to members with annuity savings contributions on deposit)This option will provide you with a reduced …
https://www.osc.ny.gov/retirement/publications/1515/available-optionsAvailable Options – Non-Contributory Plan with Guaranteed Benefits
… Single Life Allowance (Option 0) This is the basic retirement benefit. It provides the maximum benefit payment to you each month for the rest of your life. Under this selection, all payments … option will provide you with a reduced monthly benefit for your lifetime. At your death, the unpaid balance of your …
https://www.osc.ny.gov/retirement/publications/1513/available-optionsAvailable Options – Basic Plan with Increased-Take-Home-Pay (ITHP)
… Single Life Allowance (Option 0) This is the basic retirement … life. Under this selection, all payments cease upon your death. When you die (even if it is only one year, or sooner, … your death. The mandatory contributions made by Tier 5 and 6 members are not annuity savings contributions. Cash …
https://www.osc.ny.gov/retirement/publications/1511/available-optionsAutomated Phone Service
… Below is a list of the phone menu options available … you. If you have an open request in process with NYSLRS (for example, a change of address), you will be asked if you … Visit our Update Your Contact Information page to find out how to update your address. To receive a direct deposit form. …
https://www.osc.ny.gov/retirement/retirees/automated-phone-serviceTransferring or Terminating Your Membership
… that has been terminated. For Tier Reinstatement purposes, your membership terminates when: You have less than five … employment for at least 15 days and voluntarily withdraw your membership and contributions; or You transfer your … and tier restored. However, an earlier tier of membership does not always result in a better benefit. Please review …
https://www.osc.ny.gov/retirement/members/transferring-or-terminating-your-membershipBorrowing Against Your Contributions – Special 20- and 25-Year Plans
… are fully insured in case you die before repaying them. How Much You Can Borrow The minimum loan is $25. The maximum loan … you are under age 59½ at the time, you may be required to pay a 10 percent penalty tax in addition to any ordinary …
https://www.osc.ny.gov/retirement/publications/1517/borrowing-against-your-contributionsPlanning
… it for you. Devise a plan, stick to it and set goals. Try payroll deductions to a credit union, savings account or the …
https://www.osc.ny.gov/retirement/members/planningWithdrawing Your Contributions and/or Your Membership – Article 14 Benefits
… employment with at least five, but less than ten, years of credited service, you may choose to: End your membership … you choose to withdraw, or you have less than five years of service and do not qualify for a retirement benefit, you … leave public employment. If you have at least five years of credited service, and you do not withdraw your membership, …
https://www.osc.ny.gov/retirement/publications/1644/withdrawing-your-contributions-andor-your-membership