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Contributing 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 … also be subject to a tax penalty. Please read the election form carefully before submitting and speak to a tax advisor … rate on what you actually earned in the last completed State fiscal year (April 1 to March 31). Part-time employee …
https://www.osc.ny.gov/retirement/publications/1517/contributing-toward-your-retirementBorrowing Against Your Contributions – State Police Plan
… If you meet eligibility requirements, you may take a loan from NYSLRS. Tier 2 Members The following rules apply when borrowing … of member service credit. You must repay each outstanding loan in an amount sufficient to repay the loan and interest …
https://www.osc.ny.gov/retirement/publications/1518/borrowing-against-your-contributions-0Partial Lump Sum Payment – Special 20- and 25-Year Plans
… can elect to receive a partial lump sum (PLS) payment at retirement. If you elect a PLS payment, your monthly benefit … pension payment, at the end of the month following your retirement month. Eligibility To be eligible for the PLS … by mail, we will send you a special Option Election Form so you can choose a PLS percentage, or you can print it …
https://www.osc.ny.gov/retirement/publications/1517/partial-lump-sum-paymentRetiring with an Outstanding Loan – Special 20- and 25-Year Plans
… Tier 2 and 3 (Article 11) Members If you retire with an outstanding loan, the annuity portion of your retirement benefit will be permanently reduced . You cannot pay off your loan once you retire. The amount of your annuity reduction …
https://www.osc.ny.gov/retirement/publications/1517/retiring-outstanding-loanLoans – Divorce and Your Benefits
… A member is not prohibited from taking a loan from NYSLRS , unless the DRO on file specifically … prohibits loans. If the member has an outstanding loan balance at retirement, the pension will be reduced for each loan, taking into consideration the member’s age at …
https://www.osc.ny.gov/retirement/members/divorce/loansEligibility, the Benefit and Filing – Career Plan
… (RS6037) must be on file with the Office of the State Comptroller at least 15 days, but not more than 90 …
https://www.osc.ny.gov/retirement/publications/1642/eligibility-benefit-and-filingBorrowing Against Your Contributions – Special 20- and 25-Year Plans
… have member contributions in your account, you can take a loan from NYSLRS. If you aren’t required to contribute (determined by your tier and retirement plan), you can only borrow if you have … of member service credit. You must repay each outstanding loan in an amount sufficient to repay the loan and interest …
https://www.osc.ny.gov/retirement/publications/1517/borrowing-against-your-contributionsReceiving Your Benefit and Filing Your Option Election – Police and Fire Plan
… Option Election form (unless notified otherwise, as in the case of disability retirement) before the first day of the …
https://www.osc.ny.gov/retirement/publications/1512/receiving-your-benefit-and-filing-your-option-electionReceiving Your Benefit and Filing Your Option Election – New Career Plan
… Option Election form (unless notified otherwise, as in the case of disability retirement) before the first day of the …
https://www.osc.ny.gov/retirement/publications/1515/receiving-your-benefit-and-filing-your-option-electionReceiving Your Benefit and Filing Your Option Election – Non-Contributory Plan with Guaranteed Benefits
… Receiving Your Benefit At retirement, you must decide how you want your retirement benefit paid. You can choose from several options, all of which will provide you with a monthly benefit for life. For example, you may elect the Single Life Allowance, which provides the maximum amount …
https://www.osc.ny.gov/retirement/publications/1513/receiving-your-benefit-and-filing-your-option-electionMember Outreach and Presentations
… and after the presentation. Note for employers of New York State employees: The Office of Employee Relations administers …
https://www.osc.ny.gov/retirement/members/member-outreach-presentationsLoans: Applying and Repaying
… Online is the fastest and easiest way to apply for a loan with NYSLRS. You can see how much you are eligible to … (press 2 for members, then follow the prompts). ERS Tier 3, 4, 5 and 6 and PFRS Tier 3 (Article 14), 5 and 6 1 How much …
https://www.osc.ny.gov/retirement/members/loans-applying-and-repayingOversight of Mitchell-Lama Application Fees
… to applicants or turned them over to the Office of the State Comptroller as abandoned property. Our audit covered … awarded to applicants based on their order on the waiting list, which is updated to reflect the withdrawal, rejection, … Utilize turnover rates when establishing waiting list sizes. Make these rates public so that applicants have …
https://www.osc.ny.gov/state-agencies/audits/2019/12/20/oversight-mitchell-lama-application-feesPlanning
… will need in retirement. The first step is to draw up a list of all your expenses. Step 2: Estimate Your Retirement … to a credit union, savings account or the New York State (NYS) College Savings Program; Take advantage of the …
https://www.osc.ny.gov/retirement/members/planningFrequently Asked Questions – World Trade Center Presumption
Information about laws that may apply to those who participated in World Trade Center rescue recovery or cleanup efforts
https://www.osc.ny.gov/retirement/publications/world-trade-center/frequently-asked-questionsApplication and Account for Partial Payment of Salary - AC1394
Application and Account for Partial Payment of Salary - AC1394
https://www.osc.ny.gov/files/state-agencies/payroll/pdf/ac1394.pdfAnnual Wage for New Tier 6 Employees
Tier 6 Benefit Information Contribution rates of Tier 6 members are based on the wages they earn Here is how they are calculated Annual Wage Calculation
https://www.osc.ny.gov/retirement/employers/annual-wage-new-tier-6-employeesLife Changes: What If I Leave Public Employment?
… us. We’re here to help. Sincerely, Thomas P. DiNapoli State Comptroller Public Employment Public employment in New York State means working for: The State of New York; One of its political subdivisions (county, …
https://www.osc.ny.gov/retirement/publications/life-changes-what-if-i-leave-public-employmentArchived: Legislative Session 2015 –2016
… S.5795 (Marcellino) – To provide increased transparency in school district fiscal operations by requiring publication of …
https://www.osc.ny.gov/legislation/archived-legislative-session-2015-2016Opinion 88-53
… SOCIAL SECURITY LAW, §§302(9)(d), 431: Compensation paid to police officers or firefighters for working scheduled vacations pursuant to a collective bargaining agreement is not includable in the … contravention of existing law. November 16, 1988 Terence M. O'Neil, Labor Counsel City of Mount Vernon … Whether …
https://www.osc.ny.gov/legal-opinions/opinion-88-53