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Accidental Disability – Article 14 Benefits
… to perform your duties because of a permanent physical or mental incapacity and It is determined that the … of duties not caused by your own willful negligence. or You are awarded primary Social Security disability … Learn more about escalation. Filing You, your employer, or someone authorized with your power of attorney may file …
https://www.osc.ny.gov/retirement/publications/1644/accidental-disabilityOrdinary Disability – Article 14 Benefits
… To qualify for the ordinary disability retirement benefit, you must: Be unable to perform your duties because … Comptroller. Your application must be submitted while you are in active service. If you are no longer in active … for PFRS Tier 3 members Covers pension disability and death benefits …
https://www.osc.ny.gov/retirement/publications/1644/ordinary-disabilityAccidental Death Benefit – Article 14 Benefits
… in this order: To your surviving spouse, provided he or she has not renounced survivorship rights in a separation agreement, until death or remarriage;* To your surviving children, until they reach age 25; To your dependent parent or parents, as determined under regulations established by …
https://www.osc.ny.gov/retirement/publications/1644/accidental-death-benefitOut-of-Service Death Benefit – Article 14 Benefits
… forms to your beneficiary. … Article 14 information for PFRS Tier 3 members Covers pension disability and death …
https://www.osc.ny.gov/retirement/publications/1644/out-service-death-benefitOrdinary Death Benefit – Article 14 Benefits
… and your death occurs: While you are on the payroll; or While you are on an authorized medical leave for up to two … years (which may be extended for an additional two years); or While you are receiving Workers’ Compensation or other … law. The first $50,000 of this benefit is paid in the form of group term life insurance, which is currently exempt …
https://www.osc.ny.gov/retirement/publications/1644/ordinary-death-benefitAvailable 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-optionsReceiving Your Benefit and Filing Your Option Election – Article 14 Benefits
… all of which will provide you with a monthly benefit for life. You may elect the Single Life Allowance, which … may elect to receive a smaller monthly benefit to provide for a possible payment to a designated beneficiary after your … Single Life Allowance (Option 0). … Article 14 information for PFRS Tier 3 members Covers pension disability and death …
https://www.osc.ny.gov/retirement/publications/1644/receiving-your-benefit-and-filing-your-option-electionSocial Security Adjustment – Article 14 Benefits
… 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 Security. The primary Social Security benefit is the part of your Social Security …
https://www.osc.ny.gov/retirement/publications/1644/social-security-adjustmentEscalation – Article 14 Benefits
… Escalation is the annual increase or decrease of a benefit, based on the cost-of-living index. … retirement benefits can be eligible for either full or partial escalation. If a benefit is eligible for full escalation, it will increase or decrease each April at a rate equal to the increase or …
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 … Annual Benefit — No Escalation Filing Your Application for Service Retirement (RS6037) must be on file with the … which your retirement will occur. … Article 14 information for PFRS Tier 3 members Covers pension disability and death …
https://www.osc.ny.gov/retirement/publications/1644/retirement-age-62-less-20-years-serviceEarly Retirement – Article 14 Benefits
… additional 4 percent of your FAS for each year of service (or prorated portion thereof) beyond 20 years. Your total …
https://www.osc.ny.gov/retirement/publications/1644/early-retirementNormal 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-retirementLeaves of Absence – Article 14 Benefits
… Half credit is given for sick leave at half 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 …
https://www.osc.ny.gov/retirement/publications/1644/leaves-absenceEnding Your Membership – Article 14 Benefits
… Public employment means paid service as an officer or employee of an employer that participates in the New York … your membership to another retirement system; Retire; or Die. … Article 14 information for PFRS Tier 3 members …
https://www.osc.ny.gov/retirement/publications/1644/ending-your-membershipWithdrawing Your Contributions and/or Your Membership – Article 14 Benefits
… (with interest compounded at 5 percent per year); or Leave your contributions in your account and qualify for a … when you become eligible. If you choose to withdraw, or you have less than five years of service and do not … benefit when you become eligible. Once you have ten or more years of credited service, you cannot withdraw from …
https://www.osc.ny.gov/retirement/publications/1644/withdrawing-your-contributions-andor-your-membershipContributing Toward Your Retirement – Article 14 Benefits
… earnings toward your retirement benefits for 25 years or until retirement, whichever is earlier. If you are … reportable for federal income tax only when you withdraw or retire from the Retirement System. Therefore, the 3 percent contributions you make on or after October 1, 2013* are: Not reported as wages for …
https://www.osc.ny.gov/retirement/publications/1644/contributing-toward-your-retirementTier Status – Article 14 Benefits
… When you join the Retirement System, you are assigned to a tier depending on your date of membership. You are a Tier 3 member covered by Article 14 if you joined the Police …
https://www.osc.ny.gov/retirement/publications/1644/tier-statusRetirement System Membership – Article 14 Benefits
… 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 Retirement System … you must complete and file a membership application with the Office of the State Comptroller. … Article 14 information …
https://www.osc.ny.gov/retirement/publications/1644/retirement-system-membershipStay Informed – Article 14 Benefits
… beneficiaries achieve financial security in retirement or in the event of disability or death. Use these tips to help you understand your benefits … able to use Retirement Online instead of mailing forms or calling NYSLRS. Members can view benefit information, …
https://www.osc.ny.gov/retirement/publications/1644/stay-informedReceiving Your Benefits – Article 14 Benefits
… Article 14 information for PFRS Tier 3 members Covers pension disability and death …
https://www.osc.ny.gov/retirement/publications/1644/receiving-your-benefits