Search
Service Retirement Benefits – 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/service-retirement-benefitsFinal Average Salary – Article 14 Benefits
… on your years of credited service and your final average salary (FAS). FAS is the average of the wages you earned … In some cases, certain restrictions may apply. Regular salary; Overtime earned in the FAS period; Holiday pay; … days is included for State Police members); Payments made as a result of working your vacation; Any form of termination …
https://www.osc.ny.gov/retirement/publications/1644/final-average-salaryService Credit – 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/service-creditAbout Your Membership – 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/about-your-membershipA Message From Comptroller Thomas P. DiNapoli – Article 14 Benefits
… I am joined by a staff of dedicated professionals in my commitment to helping you make informed decisions about …
https://www.osc.ny.gov/retirement/publications/1644/message-comptroller-thomas-p-dinapoliAvailable Options – Article 14 Benefits
… the rest of your life. Under this selection, all payments cease upon your death. When you die (even if it is only one … If your beneficiary dies before you, all payments will cease upon your death. Pop-Up/Joint Allowance — Full or Half* … Single Life Allowance at retirement, and all payments will cease upon your death. Five Year Certain and Ten Year Certain …
https://www.osc.ny.gov/retirement/publications/1644/available-optionsReceiving Your Benefit and Filing Your Option Election – Article 14 Benefits
… your Option Election form (unless notified otherwise, as in the case of disability retirement) before the first day of …
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
… or decrease of a benefit, based on the cost-of-living index. Service retirement benefits can be eligible for either … equal to the increase or decrease in the cost-of-living index or 3 percent, whichever is less. However, a benefit … following the date you complete or would have completed 25 years of service credit. If you begin collecting your …
https://www.osc.ny.gov/retirement/publications/1644/escalationRetirement at Age 62 With Less Than 20 Years of Service – Article 14 Benefits
… At age 62, your service retirement benefit equals 2.1 percent of your FAS for each year of service credit. The benefit is reduced by 50 percent of your primary Social Security … Example: Retiring with 18 years of credited service and a $60,000 FAS Estimated primary Social Security benefit = …
https://www.osc.ny.gov/retirement/publications/1644/retirement-age-62-less-20-years-serviceEarly Retirement – Article 14 Benefits
… Example: Retiring with 21 years of credited service and a $60,000 FAS Estimated primary Social Security benefit = … for PFRS Tier 3 members Covers pension disability and death benefits …
https://www.osc.ny.gov/retirement/publications/1644/early-retirementNormal Retirement – Article 14 Benefits
… or decrease of a benefit, based on the cost-of-living index. Some benefits are eligible for full escalation, while … 22 years and 1 month of service credit, but less than 25 years, you are immediately eligible for partial escalation. If you retire with at least 25 years of service credit, you are immediately eligible for …
https://www.osc.ny.gov/retirement/publications/1644/normal-retirementAdditional Service Credit for Sick Leave (Section 341[j]) – Article 14 Benefits
… Section 341(j) of the Retirement and Social Security Law (RSSL) provides an optional sick leave benefit. If your …
https://www.osc.ny.gov/retirement/publications/1644/additional-service-credit-sick-leave-section-341jApplying for Previous or Military Service Credit – Article 14 Benefits
… credit for your previous public employment as early in your career as possible ensures that: If there is a cost, … will be processed more quickly if your service credit is in order. Records we need to verify your service will be more …
https://www.osc.ny.gov/retirement/publications/1644/applying-previous-or-military-service-creditLeaves of Absence – Article 14 Benefits
… send a request to the Retirement System for review. State Police employees will receive up to one year of service credit per incident while on Workers’ Compensation leave. …
https://www.osc.ny.gov/retirement/publications/1644/leaves-absenceFull- and Part-Time Service Credit – Article 14 Benefits
… New York State’s annual minimum wage for your full career in public service. “Full-time” is defined by your employer, …
https://www.osc.ny.gov/retirement/publications/1644/full-and-part-time-service-creditEnding Your Membership – Article 14 Benefits
… Once you join the Retirement System, your membership cannot end unless you: Are … employer that participates in the New York State and Local Retirement System; Have less than ten years of service … withdraw your membership ; Transfer your membership to another retirement system; Retire; or Die. …
https://www.osc.ny.gov/retirement/publications/1644/ending-your-membershipWithdrawing Your Contributions and/or Your Membership – Article 14 Benefits
… employment with at least five, but less than ten, years of credited service, you may choose to: End your membership … you choose to withdraw, or you have less than five years of service and do not qualify for a retirement benefit, you … leave public employment. If you have at least five years of credited service, and you do not withdraw your membership, …
https://www.osc.ny.gov/retirement/publications/1644/withdrawing-your-contributions-andor-your-membershipBecoming Eligible for a Benefit – Article 14 Benefits
… and, at a later date, apply for and receive a vested retirement benefit . You can choose to begin receiving your vested retirement benefit at your early retirement age or when you reach age 55. Your early …
https://www.osc.ny.gov/retirement/publications/1644/becoming-eligible-benefitContributing Toward Your Retirement – Article 14 Benefits
… join the Retirement System, all salary and service earned in connection with all employment must be reported to us. … the New York State and Local Retirement System, and used in the calculation of all benefits paid by the Retirement …
https://www.osc.ny.gov/retirement/publications/1644/contributing-toward-your-retirement