Special 20- and 25-Year Plans
For PFRS Tier 1, 2, 3, 5 and 6 Members
(Sections 384, 384-d and 384-e)
About This Publication
This retirement plan summary describes the benefits available to Tier 1, 2, 3 (Article 11), 5 and 6 members of the Police and Fire Retirement System covered by the Special 20- and 25-Year Retirement Plans. (There is no Tier 4 in the Police and Fire Retirement System.) These benefits are provided by Sections 384, 384-d and 384-e of the New York State Retirement and Social Security Law (RSSL) as enacted by the New York State Legislature.
Throughout this publication, you will find references to “Sections” and “Articles” that refer to the RSSL. The New York State and Local Retirement System, headed by the Comptroller of the State of New York, administers these plans. Our main office is in Albany, New York.
If you joined PFRS July 1, 2009 through January 8, 2010, you may not be covered by the benefits described in this publication, even if your employer has adopted and you have elected one of these special plans. The Retirement System is required to compare the employer’s special plan cost to the cost of the Article 14 plan and assign you to the less costly plan. Based on our analysis, we believe that:
- If your employer offers a special 25-year plan and the one-year final average salary (FAS) or a special 20-year plan regardless of FAS and you elect the special 20- or 25-year plan, you will be covered under Article 14. The benefit information in this presentation does not apply to you.
- If your employer offers a special 25-year plan without a one-year final average salary and you elect the special 25-year plan, you will be covered by that special 25-year plan. The benefit information in this presentation does apply to you.
PFRS members employed by the City of Yonkers who joined July 1, 2009 through January 8, 2010 are covered under Article 14. The information in this presentation does not apply to you.
This publication is a general summary of membership benefits, rights and responsibilities, and is not a substitute for any New York State or federal law. For specific information about your benefits, please contact us.
© 2014, New York State and Local Police and Fire Retirement System VO1517 (Rev. 7/14)