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Cost-of-Living Adjustment – Regional State Park Police Plan
… including age and number of years retired, your retirement benefit will permanently increase each year. This adjustment, subject to pension caps and limitations, is 50 percent of the … of your benefit. The adjustment percentage is applied only to the first $18,000 of your Single Life Allowance, even if …
https://www.osc.ny.gov/retirement/publications/1867/cost-living-adjustmentBorrowing Against Your Contributions – Regional State Park Police Plan
… If you meet eligibility requirements, you may take a loan from NYSLRS. Tier 1 and 2 Members The following rules … portion of your retirement benefit will be permanently reduced . You cannot pay off your loan once you retire. The … can also see how much you are eligible to borrow, what the repayment amount would be and if your loan will be taxable. …
https://www.osc.ny.gov/retirement/publications/1867/borrowing-against-your-contributionsIRS Pension Limitation – Regional State Park Police Plan
… The Internal Revenue Code Section 401(a)(17) limits the amount of salary that qualified pension … It affects members who first join on or after April 1, 1996, and currently excludes earnings over $250,000 (effective April 1, 2012) in the State’s fiscal year (April 1st – March 31st). …
https://www.osc.ny.gov/retirement/publications/1867/irs-pension-limitationAvailable Options – Regional State Park Police Plan
… the rest of your life. Under this selection, all payments cease upon your death. When you die (even if it is only one … contributions have been expended, all payments will cease upon your death. The mandatory contributions made by … beneficiary dies before you, all benefit payments will cease upon your death. Joint Allowance — Half* This option …
https://www.osc.ny.gov/retirement/publications/1867/available-optionsReceiving Your Benefit and Filing Your Option Election – Regional State Park Police Plan
… date, whichever is later. If your election is not timely, by law, we must process your retirement as if you had … information for PFRS Tier 1 2 3 5 and 6 members covered by Section383a Covers pension disability and death benefits …
https://www.osc.ny.gov/retirement/publications/1867/receiving-your-benefit-and-filing-your-option-electionLimitations – Regional State Park Police Plan
… calculation of your FAS, and the amount of overtime that can be included in your FAS is limited to 15 percent of your … two participating employers. The amount of overtime which can be included in your FAS is limited to 15 percent of your …
https://www.osc.ny.gov/retirement/publications/1867/limitationsOverview – Regional State Park Police Plan
… credited service and your final average salary (FAS). For Tier 1, 2, 3 and 5 members, FAS is the average of the wages … months of service when your earnings were highest. For Tier 6 members, it is the average of your highest 60 … and Any payments made for time not worked. *For Tier 5 and 6 members, the total amount of overtime and …
https://www.osc.ny.gov/retirement/publications/1867/overviewAdditional Service Credit for Sick Leave (Section 341[j]) – Regional State Park Police Plan
… year after separating from service. The additional credit is determined by dividing your total unused, unpaid sick …
https://www.osc.ny.gov/retirement/publications/1867/additional-service-credit-sick-leave-section-341jApplying for Previous or Military Service Credit – Regional State Park Police Plan
… To receive credit for any type of previous or military service, send a written request (which must be received before your effective date of retirement) to our Member & Employer Services Bureau. Please …
https://www.osc.ny.gov/retirement/publications/1867/applying-previous-or-military-service-creditCredit for Previous or Military Service – Regional State Park Police Plan
… of your military service. To determine your eligibility and the cost, if any, please send us a copy of your … system in New York State, your service may be recredited and your date of membership and tier restored. However, an earlier tier of membership … State Park Police Plan information for PFRS Tier 1 2 3 5 and 6 members covered by Section383a Covers pension …
https://www.osc.ny.gov/retirement/publications/1867/credit-previous-or-military-serviceCreditable Service – Regional State Park Police Plan
… for service retirement eligibility. Service performed in titles other than those mentioned will count toward your …
https://www.osc.ny.gov/retirement/publications/1867/creditable-serviceLeaves of Absence – Regional State Park Police Plan
… pay. Since service is usually not credited for any period of time you do not receive a salary, credit is not given for: Leaves of absence without pay; Authorized, unpaid medical leaves of …
https://www.osc.ny.gov/retirement/publications/1867/leaves-absenceFull- and Part-Time Service Credit – Regional State Park Police Plan
… service credit by subtracting your beginning date of employment from the date you actually leave paid … 6 members, part-time employment is credited as the lesser of: number of days worked ÷ 260 days or annual salary reported ÷ …
https://www.osc.ny.gov/retirement/publications/1867/full-and-part-time-service-creditEnding Your Membership – Regional State Park Police Plan
… Once you join, there are five ways your membership can end: If you do not have at least …
https://www.osc.ny.gov/retirement/publications/1867/ending-your-membershipBecoming Eligible for a Benefit – Regional State Park Police Plan
… Once you have accrued five years of credited service, you will be vested. This means you have … collect a vested retirement benefit at age 63. The amount of your vested benefit is based on your service and salary …
https://www.osc.ny.gov/retirement/publications/1867/becoming-eligible-benefitContributing Toward Your Retirement – Regional State Park Police Plan
… 11 benefits, you are not required to contribute toward your retirement benefits, but may elect to make voluntary … earn, will provide you with an annuity, in addition to your regular service retirement benefits, when you retire. … Tier 5 member, you are required to contribute 3 percent of your reportable earnings toward your retirement benefits …
https://www.osc.ny.gov/retirement/publications/1867/contributing-toward-your-retirementTier Status – Regional State Park Police Plan
… System, you are assigned to a tier depending on your date of membership. You are in: If you joined: Tier 1 Before July …
https://www.osc.ny.gov/retirement/publications/1867/tier-statusRetirement System Membership – Regional State Park Police Plan
… paid firefighters working for employers that participate in the New York State and Local Police and Fire Retirement System (PFRS) must become members of the Retirement System. When you become a member, you must … complete and file a membership application with the Office of the State Comptroller. Special Plan Coverage If you are …
https://www.osc.ny.gov/retirement/publications/1867/retirement-system-membershipStay Informed – Regional State Park Police Plan
… your benefits and stay informed. Register for Retirement Online , a convenient and secure way to review your benefits … time. In many cases, you’ll be able to use Retirement Online instead of mailing forms or calling NYSLRS. Members …
https://www.osc.ny.gov/retirement/publications/1867/stay-informedReceiving Your Benefit and Filing Your Option Election – State University Police Plan
… beneficiary after your death. Filing Your Option Election You must file your Option Election form (unless notified otherwise, as in the case of … date, whichever is later. If your election is not timely, by law, we must process your retirement as if you had … information for PFRS Tier 1 2 3 5 and 6 members covered by Section 383d Receiving Your Benefit Filing Your Option …
https://www.osc.ny.gov/retirement/publications/1823/receiving-your-benefit-and-filing-your-option-election