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NYS Comptroller

Thomas P. DiNapoli

Partial Lump Sum (PLS) Payment at Retirement

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Overview

This law allows certain Police and Fire Retirement System (PFRS) and Employees’ Retirement System (ERS) members to receive a partial lump sum (PLS) distribution of their retirement benefit in exchange for a reduced continuing lifetime monthly benefit.

If you are covered by a plan that allows for retirement after 20 or 25 years of creditable service regardless of age, you may be eligible for a PLS. ERS members must be employed as a sheriff, undersheriff, deputy sheriff or county correction officer and your employer must elect this option.

PFRS members can use our Pension Projection Calculator to estimate the amount you would be eligible to take in a lump sum, and the effect this would have on your continuing lifetime monthly benefit. After you estimate your Single Life Allowance, there will be a link to PLS information and the PLS calculator.

(Rev. 12/14)