- What is the World Trade Center Presumption and does it affect me?
- Are there currently any incentive programs available?
- How do I change my beneficiary?
- How do I get a loan?
- How do I receive service credit for my military service?
- What is service credit and how does it affect my pension?
- Can I receive service credit for time I did not work?
- Can I receive service credit from more than one employer at the same time?
- What is final average salary and how is it calculated?
- When am I eligible to retire?
- I am thinking about retiring, but may want/need to supplement my retirement allowance. Can I ?
- I've lost my Annual Member Statement. How can I get another one?
- How can I get my retirement benefit sent directly to my bank?
- When will I start receiving my retirement check?
- How do I report the death of a retiree?
- Is my beneficiary eligible for a survivor's benefit?
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What is the World Trade Center Presumption and does it affect me?
See our World Trade Center section.
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Are there currently any incentive programs available?
Not at this time.
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How do I change my beneficiary?
See our Beneficiaries section.
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How do I get a loan?
See our Loans section.
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How do I receive service credit for military service?
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What is service credit and how does it affect my pension?
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Can I receive service credit for time I did not work?
Generally, you cannot receive service credit for any time during which you did not receive salary. There is, however, an exception. State employees may receive up to one year of service credit while on Workers’ Compensation leave. Non-state employees will only receive credit if their employer continues to pay them and is later reimbursed by the Workers’ Compensation carrier.
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Can I receive service credit from more than one employer at the same time?
You may be credited with salary and days reported by more than one employer, but you will not receive more than one full year of service credit for each fiscal year.
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What is "final average salary" and how is it calculated?
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When am I eligible to retire?
ERS Members:
If you are a Tier 1, 2, 3 or 4 member of the Employees’ Retirement System (ERS) in a regular retirement plan, you may retire at age 55 with a minimum of 5 five years of service credit. Tier 1 members may retire at age 55 with no benefit reduction. If you are a Tier 2, 3 or 4 member, you can retire with full benefits at age 62 or age 55 with 30 years of service credit. If you have less than 30 years of service credit, your benefit will be reduced by a percentage for each year of retirement prior to age 62.
If you are a Tier 5 member, you may retire at age 55 with a minimum of ten years of service credit. Tier 5 uniformed court officers or peace officers employed by the Unified Court System can retire with full benefits at age 62 or age 55 with 30 years of service credit. All other Tier 5 members will receive a reduced benefit if retirement is prior to age 62.
PFRS Members:
If you are a Tier 1 member of the Police and Fire Retirement System (PFRS), in a regular plan, you may retire at age 55. Tier 2 and 3 members are eligible to retire with full benefits at age 62, or may choose early retirement with a reduced benefit between ages 55 and 62. Tier 2 members must also have at least five years of service credit after July 1, 1973. Tier 3 members must have at least ten years of service credit to become vested.
If you are a Police and Fire Retirement System member covered by a special plan, you are eligible to retire when you have met the service requirements (20 or 25 years) in the designated title(s), regardless of age.
Regardless of tier, if you work for an employer that offers a special plan, you must retire by the first day of the month following your 70th birthday, even if you have not elected the special plan. Certain special plans may require retirement earlier than age 70. For applicable age restrictions and service type requirements you should refer to your retirement plan booklet.
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I am thinking about retiring, but may want to work to supplement my retirement allowance. Can I?
Yes. See our Working After Retirement section for more information.
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I’ve lost my Member Annual Statement. How can I get another one?
You can contact us. Telephone requests for statement reprints will be accepted if:
- Your original statement has already been sent to your employer, and
- Your current home address is the same as the address on record.
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How can I get my retirement check sent directly to my bank?
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When will I start receiving my retirement check?
Generally, you will receive your first retirement payment six to eight weeks after you retire. Since it takes time for your former employer(s) to provide all the information we need to determine your final retirement benefit, your first payments will be advance checks. Advance checks are partial payments, based on the information we have and the option you chose. The advance payment is about 90 percent of the amount due under the option you elected, or 75 percent of the Single Life Allowance (Option 0) if no option form is on file. The maximum monthly advance is $9,999. You should expect to receive between six and eight advance payments.
Please note that no advance payments will be made if we don’t have proof of your birth date on file.
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How do I report the death of a retiree?
Contact us to notify us of a retiree’s death. A representative will ask for the following information:
- Deceased’s full name.
- Deceased’s social security number.
- Date of death.
- Where the retiree died (city and state).
- Name, address and telephone number of the person calling.
- Relationship of the person calling to the deceased.
- Does the deceased have a surviving spouse? If so, what is his/her name and address?
- Are you (the caller) the nearest surviving relative? If not, what is his/her name and address?
- Is there going to be an estate proceeding through the surrogate’s court?
- The executor’s name and address (if the estate is being administered through the court).
- Is a lawyer handling the retiree’s affairs? If so, the lawyer’s name, address and phone number.
- We also need you to send a certified copy of the deceased’s death certificate (not a fax or photo copy) to the Retirement System.
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Is my beneficiary eligible for a survivor’s benefit?
If you are a retiree who worked for a State agency, your beneficiary may be eligible for a survivor’s benefit. To be eligible, you must have:
- At least ten years of full-time State service within the 15 years immediately prior to leaving or retiring from State service. State service includes only employment for which salary is paid directly by New York State.
- Retired directly from State service either:
- From any retirement system or pension plan supported by State funds, other than the State University optional retirement program, or
- From the State University optional retirement program after age 55, and begin receiving your retirement allowance within 90 days of your last day on the payroll, or
- After age 62.
- If you met these conditions and retired on or before March 31, 1970, you have a survivor’s benefit of $2,000. If you were/are eligible and retired from April 1, 1970 to the present, you have a $3,000 benefit. This benefit was/is distributed equally to your beneficiaries (ex: two beneficiaries would get $1,500 each for a recently deceased retiree under this benefit), unless otherwise indicated by you before death.
For more information about the Survivor’s Benefit Program, check out the following brochures:
(Rev. 3/10)
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