Search
Legislative and Executive Retirement Plan For Tier 1 and 2 Members (Section 80-a)
… Active service for this benefit means: You are paid on the payroll; You are on a leave of absence with pay; You are on … or within 90 days from the date you: Are last paid on the payroll; or Are last on an authorized medical leave for up to … service" is defined as while you are: Being paid on the payroll; or On an authorized medical leave of absence for up …
https://www.osc.ny.gov/retirement/publications/legislative-and-executive-retirement-plan-tier-1-and-2-members-section-80Borrowing Against Your Contributions – State Police Plan
… your contributions: You must be in active service and have at least one year of member service credit. You must repay … balance, so you must have an annuity savings balance of at least $33.35. Annuity savings contributions are those you … the loan is granted or becomes taxable. If you are under age 59½ at the time, you may be required to pay a 10 percent …
https://www.osc.ny.gov/retirement/publications/1518/borrowing-against-your-contributions-0Contributing Toward Your Retirement – State Police Plan
… annuity savings contributions, which will earn interest and provide an annuity above and beyond your regular pension … or have 32 years of service credit, whichever comes first. For your first three years of membership, we use the annual … More than $100,000 6.00% … State Police Plan information for PFRS Tier 2 5 and 6 members under Sections 381b …
https://www.osc.ny.gov/retirement/publications/1518/contributing-toward-your-retirementAvailable Options – Article 14 Benefits
… depending upon which option you elect, payments in the same amount you were receiving (without COLA) will be … for other payment methods. These requests must be outlined in detail by you and then approved by us for legal and …
https://www.osc.ny.gov/retirement/publications/1644/available-optionsBorrowing Against Your Contributions – Article 14 Benefits
… If you meet eligibility requirements, you may take a loan from the Retirement System. Before you apply, you … could result in significant tax consequences for you. You do not make the required payments on your loan at least once … (regular service or disability). These are examples of how your service retirement benefit will be permanently …
https://www.osc.ny.gov/retirement/publications/1644/borrowing-against-your-contributionsLife Changes: Membership in a Nutshell
… enough how important it is for you to know how membership in the New York State and Local Retirement System (NYSLRS) … or stop voluntary contributions by filing the appropriate form with your payroll office. If you stop voluntary … amount, make additional payments or pay your loan in full at any time with no prepayment penalties. Retirement …
https://www.osc.ny.gov/retirement/publications/life-changes-membership-nutshellPartial Lump Sum Payment – Special 20- and 25-Year Plans
… receive your PLS along with your first pension payment, at the end of the month following your retirement month. Eligibility To … available to you is a percentage of the total actuarial value of your retirement benefit at the time you retire. The …
https://www.osc.ny.gov/retirement/publications/1517/partial-lump-sum-paymentPartial Lump Sum Payment – State Police Plan
… your PLS along with your first pension payment, at the end of the month following your retirement month. Eligibility To … retirement benefit for at least one year before your date of retirement; and Retire with a service retirement benefit … You must select a pension payment option and PLS payment by the end of the month in which you retire. If you are …
https://www.osc.ny.gov/retirement/publications/1518/partial-lump-sum-paymentContributing Toward Your Retirement – Special 20- and 25-Year Plans
… 11) Members You are not required to contribute toward your retirement. However, you can make voluntary annuity savings … 10 percent. Voluntary contributions are taken after taxes. At retirement, the annuity you receive would be treated as … unless your plan limits creditable service to 20, 25 or 32 years.* In that case, you won’t contribute after the maximum …
https://www.osc.ny.gov/retirement/publications/1517/contributing-toward-your-retirementMaking Adjustments to Earnings and Days Worked – Enhanced Reporting
… fields or leave them blank). You can also make adjustments by submitting a manual adjustment report rather than … reported information and request a contribution refund by submitting the paper Adjustment Report. Be sure to … to correct earnings or days worked Adjustments are made by adding or subtracting from previously reported data …
https://www.osc.ny.gov/retirement/employers/enhanced-reporting/making-adjustments-earnings-and-days-workedBecoming Eligible for a Benefit – Article 14 Benefits
… to receive a pension once you meet the minimum requirement of five years of service credit, even if you discontinue your public … age is the age at which you would have completed 20 years of service credit. The amount of your vested benefit will be …
https://www.osc.ny.gov/retirement/publications/1644/becoming-eligible-benefitWithdrawing Your Contributions and/or Your Membership – State Police Plan
… you made must stay in your account. If you qualify for a retirement benefit and you do not withdraw your membership, you may apply for a retirement benefit when you reach age 55 (age 63 for vested Tier 6 members who are off payroll). It is up to …
https://www.osc.ny.gov/retirement/publications/1518/withdrawing-your-contributions-andor-your-membershipEligibility, Your Vested Benefit and Filing – Article 14 Benefits
… Eligibility You are eligible for a vested retirement benefit if you leave public … Benefit The vested benefit equals 2.1 percent of your FAS for each year of service. If you choose to begin receiving … will be reduced by the percentages shown: 6.67 percent for each year your early retirement age exceeds 60; and 3.33 …
https://www.osc.ny.gov/retirement/publications/1644/eligibility-your-vested-benefit-and-filingPayment for Service Credit – Article 14 Benefits
… costs. Example of Mandatory Past Service Costs: You joined the Retirement System on July 13, 2009, but your employer did …
https://www.osc.ny.gov/retirement/publications/1644/payment-service-creditVoluntary Compliance Self-Audit Checklist
… Thank you for submitting your Self-Audit Checklist, we will review your … funds, we will send the contact an enrollment email for the Voluntary Compliance Program. Otherwise, an … request one, reply to the message you receive. … Thank you for submitting your SelfAudit Checklist we will review your …
https://www.osc.ny.gov/unclaimed-funds/reporters/voluntary-compliance-self-audit-checklistUnderstanding Your NYSLRS Membership
As a NYSLRS member its important to understand how your membership works and what benefits you are entitled to receive
https://www.osc.ny.gov/retirement/members/understanding-your-nyslrs-membershipEmployer Billing
… employer, you are billed each November for your share of the cost of your employees’ retirement benefits. The amount of your annual invoice is based on the retirement plans and …
https://www.osc.ny.gov/retirement/employers/employer-billingPre-Retirement Consultations
… Our Office Locations Albany 110 State Street Albany, NY 12244 Hours: 8:30 am–4:30 pm Days: Usually every business … Square Building 295 Main Street, Suite 893 Buffalo, NY 14203 Hours: 9 am–noon and 1–4 pm Days: Usually every … Hauppauge 330 Motor Parkway, Suite 107 Hauppauge, NY 11788 Hours: 9 am–noon and 1–4 pm Days: Usually every …
https://www.osc.ny.gov/retirement/members/pre-retirement-consultationsTaxes and Your Pension
… are not subject to New York State or local income tax. If you permanently moved to another state or if you spend more than 183 days in that state, your pension may … withholding status of “single with no adjustments” unless you inform us otherwise. The amount withheld is based on the …
https://www.osc.ny.gov/retirement/retirees/taxes-and-your-pensionStraight Talk About Financial Planning For Your Retirement
… when you are ready to retire, your pension will be there for you. Your retirement benefit is only one part of a good … it’s a good time to check your finances and develop a plan for when you retire. Here are some steps you can take to … when you can choose “Vested Retirement.” This option is for those who are or will be vested, and should be used only …
https://www.osc.ny.gov/retirement/publications/straight-talk-about-financial-planning-your-retirement