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Retiring Before Age 62 – Career Plan
… reduced by the percentages shown below. The percentage of the benefit reduction is prorated based on your exact age at retirement. Age at Retirement Percentage of Reduction 55 27 56 24 57 21 58 18 59 15 60 12 61 6 62 0 It is important to know that once you retire with a reduced benefit, the …
https://www.osc.ny.gov/retirement/publications/1642/retiring-age-62Tier 2, 3, 5 and 6 Death Benefits – Career Plan
… active service, your beneficiary will be paid the greater of the two death benefits; if you die after retirement, and … two is equal to your salary multiplied by your years of service, not to exceed three years of salary. For example, if you die after one year of service, …
https://www.osc.ny.gov/retirement/publications/1642/tier-2-3-5-and-6-death-benefitsPerformance of Duty Disability – Career Plan
… Eligibility You may be entitled to this disability benefit if you are … If approved, the benefit would be equal to one-half (50 percent) of your FAS, plus an annuity based on any annuity …
https://www.osc.ny.gov/retirement/publications/1642/performance-duty-disabilityBorrowing Against Your Contributions – Career Plan
… If you meet eligibility requirements, you may take a loan from NYSLRS. Tier 1 and 2 Members The following rules … year of member service credit. You repay each outstanding loan through payroll deductions in an amount sufficient to repay the loan and interest within five years. You may borrow only once …
https://www.osc.ny.gov/retirement/publications/1642/borrowing-against-your-contributionsApplying for Benefits – New Career Plan
… System benefits, you must file the appropriate application form with the Office of the State Comptroller in a timely manner. Forms are available from our … New York State. Filing With the Office of the State Comptroller Many retirement benefit applications and other …
https://www.osc.ny.gov/retirement/publications/1515/applying-benefitsTier 2, 3, 5 and 6 Death Benefits – New Career Plan
… active service, your beneficiary will be paid the greater of the two death benefits; if you die after retirement, and … two is equal to your salary multiplied by your years of service, not to exceed three years of salary. For example, if you die after one year of service, …
https://www.osc.ny.gov/retirement/publications/1515/tier-2-3-5-and-6-death-benefitsBecoming Eligible for a Benefit – Career Plan
… have accrued five years of credited service, you will be vested. This means you have earned the right to receive a retirement benefit, even if you leave public employment. 1 … 3 and 5 members who are off public payroll may collect a vested retirement benefit at age 55. Tier 6 members who are …
https://www.osc.ny.gov/retirement/publications/1642/becoming-eligible-benefitContributing Toward Your Retirement – Career Plan
… elect to make voluntary annuity savings contributions to the Retirement System. These contributions, plus the interest … a Tier 5 member, you are required to contribute 3 percent of your reportable earnings toward your retirement benefits … the employer to offer a non-contributory plan that was in effect on January 9, 2010, and is still in effect on the …
https://www.osc.ny.gov/retirement/publications/1642/contributing-toward-your-retirementApplying for Benefits – Non-Contributory Plan with Guaranteed Benefits
… System benefits, you must file the appropriate application form with the Office of the State Comptroller in a timely manner. Forms are available from our … New York State. Filing with the Office of the State Comptroller Many retirement benefit applications and other …
https://www.osc.ny.gov/retirement/publications/1513/applying-benefitsStay Informed – Career Plan
… or in the event of disability or death. Use these tips to help you understand your benefits and stay informed. … Retirement Online , a convenient and secure way to review your benefits and conduct transactions in real time. In many cases, you’ll be able to use Retirement Online instead of mailing forms or …
https://www.osc.ny.gov/retirement/publications/1642/stay-informedChallenging a Determination – Regional State Park Police Plan
… We can pay only those benefits authorized by law, and cannot pay you any benefits if you do not meet all the eligibility requirements established by law. If you believe that your benefit has been incorrectly …
https://www.osc.ny.gov/retirement/publications/1867/challenging-determinationApplying for Benefits – Regional State Park Police Plan
… System benefits, you must file the appropriate application form with the Office of the State Comptroller in a timely manner. Forms are available from our … New York State. Filing With the Office of the State Comptroller Many retirement benefit applications and other …
https://www.osc.ny.gov/retirement/publications/1867/applying-benefitsAccidental Death Benefit – Regional State Park Police Plan
… beneficiary. If you die on or after January 1, 2020, the application for the accidental death benefit must be filed … of death (for members who died before January 1, 2020, the application had to be filed within two years of your date of …
https://www.osc.ny.gov/retirement/publications/1867/accidental-death-benefitAlternative and Out-of-Service Death Benefits – Regional State Park Police Plan
… Alternative Death Benefit If you die while in service, after becoming … would have been established had you retired on your date of death. Out-of-Service Death Benefit If you are a vested … during that time. Filing Your family or employer should notify us of your death as soon as possible so we can send …
https://www.osc.ny.gov/retirement/publications/1867/alternative-and-out-service-death-benefitsOrdinary Death Benefit – Regional State Park Police Plan
… beneficiary may be entitled to an ordinary death benefit, in lieu of a monthly pension, if you meet eligibility … pension benefit. The first $50,000 of this benefit is paid in the form of group term life insurance, which is currently …
https://www.osc.ny.gov/retirement/publications/1867/ordinary-death-benefitPerformance of Duty Disability – Regional State Park Police Plan
… Eligibility You may be entitled to this disability benefit if you are … If approved, the benefit would be equal to one-half (50 percent) of your FAS, plus an annuity based on any annuity …
https://www.osc.ny.gov/retirement/publications/1867/performance-duty-disabilityRegional State Park Police Disability (Section 363-e) – Regional State Park Police Plan
… Eligibility You would be entitled to this disability benefit if, at the time of filing, you are: Under … your duties as the natural and proximate result of a disability sustained in service, not caused by your own …
https://www.osc.ny.gov/retirement/publications/1867/regional-state-park-police-disability-section-363-eDivorce – Regional State Park Police Plan
… are divorced, it is especially important to review your beneficiary designations to ensure your benefits will be … according to your wishes. Effective July 7, 2008, beneficiary designations for certain benefits are revoked … exception applies if the terms of a DRO specify otherwise. Beneficiary designations may be revoked for the Ordinary …
https://www.osc.ny.gov/retirement/publications/1867/divorceCost-of-Living Adjustment – Regional State Park Police Plan
… increase each year. This adjustment, subject to pension caps and limitations, is 50 percent of the previous … you would have been entitled to receive. … Regional State Park Police Plan information for PFRS Tier 1 2 3 5 and …
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 … year of member service credit. You repay each outstanding loan through payroll deductions in an amount sufficient to repay the loan and interest within five years. You may borrow only once …
https://www.osc.ny.gov/retirement/publications/1867/borrowing-against-your-contributions