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Retirement System Membership – Coordinated Plan For ERS Tier 5 Members
… Coordinated Plan information for ERS Tier 5 members under Article 15 Retirement System Membership …
https://www.osc.ny.gov/retirement/publications/1523/retirement-system-membershipEligibility, Your Vested Benefit and Filing – Article 14 Benefits
… 14 information for PFRS Tier 3 members Covers pension disability and death benefits …
https://www.osc.ny.gov/retirement/publications/1644/eligibility-your-vested-benefit-and-filingDivorce – Article 14 Benefits
… retirement benefits are marital property and are subject to equitable distribution. Equitable distribution is the … to your ex-spouse. A DRO gives us specific direction on how your retirement benefits should be divided. However, it does not allow for a distribution of your pension until you actually retire, die or terminate membership. If you are …
https://www.osc.ny.gov/retirement/publications/1644/divorceCost-of-Living Adjustment – Article 14 Benefits
… Article 14 information for PFRS Tier 3 members Covers pension disability and death benefits …
https://www.osc.ny.gov/retirement/publications/1644/cost-living-adjustmentBorrowing Against Your Contributions – Article 14 Benefits
… If you meet eligibility requirements, you may take a loan … loan balances when you retire or withdraw. If your loan is taxable, or becomes taxable as described above, you must … year the loan is granted or becomes taxable. If you are under 59½ at the time, you may be required to pay a 10 …
https://www.osc.ny.gov/retirement/publications/1644/borrowing-against-your-contributionsIRS Pension Limitation – Article 14 Benefits
… benefits. Section 401(a)(17) affects members who join on or after April 1, 1996, and currently excludes earnings …
https://www.osc.ny.gov/retirement/publications/1644/irs-pension-limitationChallenging a Determination – Article 14 Benefits
… calculated, you may request a hearing and redetermination to be held before a hearing officer. Your request must be in …
https://www.osc.ny.gov/retirement/publications/1644/challenging-determinationApplying for Benefits – Article 14 Benefits
… form with the Office of the State Comptroller in a timely manner. Forms are available from our website , our … in each benefit description. If you need help, you can call or write us, or make an appointment with an … benefits or an option election form), you can also send the document to us via fax. Although we will consider …
https://www.osc.ny.gov/retirement/publications/1644/applying-benefitsAccidental Disability – Article 14 Benefits
… and It is determined that the disability is the natural and proximate result of an accident sustained in the … benefits and It is determined that the disability is the natural and proximate result of an accident sustained in the …
https://www.osc.ny.gov/retirement/publications/1644/accidental-disabilityOrdinary Disability – Article 14 Benefits
… Eligibility To qualify for the ordinary disability retirement benefit, you must: Be unable to perform your duties because of a permanent physical or mental incapacity; Have five years of credited service; and Be eligible for …
https://www.osc.ny.gov/retirement/publications/1644/ordinary-disabilityAccidental Death Benefit – Article 14 Benefits
… equal to one-half (50 percent) of your FAS and is eligible for full escalation. ( Learn more about escalation. ) The … as a dependent on your final federal income tax return for the year preceding death, until that person reaches age … If you die on or after January 1, 2020, the application for the accidental death benefit must be filed within five …
https://www.osc.ny.gov/retirement/publications/1644/accidental-death-benefitOut-of-Service Death Benefit – Article 14 Benefits
… If you are a vested member with at least ten years of credited service, have not retired and you die more than one year after leaving public employment, 50 percent of the ordinary death benefit may still be payable. This … benefit may also be payable if you die within one year of leaving covered service but were gainfully employed during …
https://www.osc.ny.gov/retirement/publications/1644/out-service-death-benefitOrdinary Death Benefit – Article 14 Benefits
… are also payable to your beneficiary. Filing Your family or employer should notify us of your death as soon as …
https://www.osc.ny.gov/retirement/publications/1644/ordinary-death-benefitAvailable Options – Article 14 Benefits
… Single Life Allowance (Option 0) This is the basic retirement … benefit payment to you each month for the rest of your life. Under this selection, all payments cease upon your … dies before you, all benefit payments will stop at your death. Joint Allowance — Partial* This option will …
https://www.osc.ny.gov/retirement/publications/1644/available-optionsReceiving Your Benefit and Filing Your Option Election – Article 14 Benefits
… lifetime, with nothing payable to a beneficiary upon your death. Or, you may elect to receive a smaller monthly benefit … a possible payment to a designated beneficiary after your death. Filing Your Option Election You must file your Option … for PFRS Tier 3 members Covers pension disability and death benefits …
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 …
https://www.osc.ny.gov/retirement/publications/1644/social-security-adjustmentEscalation – Article 14 Benefits
… each April at a rate equal to the increase or decrease in the cost-of-living index or 3 percent, whichever is less. …
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 … 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
… With 20 years of service credit, you can apply for early retirement regardless of your age. … Your total benefit cannot exceed 50 percent of your FAS. When you turn 62, the early retirement benefit is reduced by 50 …
https://www.osc.ny.gov/retirement/publications/1644/early-retirementNormal Retirement – Article 14 Benefits
… but must be separated from service on the first of the month following the month you reach 62. With at least 22 years of service credit, you can apply for normal retirement regardless of your age. The normal retirement benefit equals 50 percent …
https://www.osc.ny.gov/retirement/publications/1644/normal-retirement