As a first step, OSC has revised the Retirement Plans Table in PayServ to include Tier 6 as an option in the Benefit Plans listed below. Any employee designated as Tier 6 by the Retirement System must have the appropriate Tier 6 plan type for the retirement system selected.
The Retirement System Plan Type and corresponding Tier 6 benefit plans are:
New York State Employees Retirement System:
Police and Fire Retirement System:
New York State Teachers Retirement System:
New York City Employees Retirement System:
- (7U) NYECA6, NYECN6 and NYENC6
New York City Education Board Retirement System:
New York City Teachers Retirement System:
- (7S) NYTCA6, NYTCN6 and NYTNC6
OSC will identify any Retirement enrollees with an election date on the Retirement Plans table later than 3/31/2012, and manually update the employee into the appropriate Tier 6 benefit plan.
The process to manually move employees into Tier 6 will begin on April 20, 2012, with an expected completion date of April 25, 2012.