November 2009

Member News

Hot Topics

Latest Legislation: Service Credit Transfer Option for Police & Fire Members
Chapter 390 of the Retirement and Social Security Law now enables certain Police and Fire members to transfer service credit back to the Employees' Retirement System if they had previously transferred it to PFRS. This new law only affects Police and Fire members who are covered by Section 381-b (State Police) or 384-d (20-year plan). If you were covered by a contributory plan and withdrew the funds at the time of the transfer, you must repay the required contributions with interest. To find out more on how this may affect your service credit, read the description of Chapter 390.

Getting Close to Retirement

Getting Credit for Past Military Service
Different sections of the Retirement and Social Security Law allow veterans to purchase credit for past military service. Most veterans meet the criteria for this credit under Article 20 of the RSSL. For more information on past credit for military service, including possible costs and how to apply, visit the Military Service Credit section of our website.

By the Way: Retirement Online is a helpful tool that allows you to view your own Retirement System information – such as your contribution balance amd beneficiary designations – securely on our website. If you haven’t already enrolled in this service, take a few minutes to sign up now.