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New York State and Local Retirement SystemOffice of the State Comptroller - Home

Special 20- and 25-Year Plans

For PFRS Tier 1, 2, 3, 5 and 6 Members

(Sections 384, 384-d and 384-e)

Limitations

Tier 1

If your date of membership is June 17, 1971, or later, the wages in any 12-month period used in the FAS calculation cannot exceed the earnings in the preceding 12-month period by more than 20 percent. Any amount in excess of 20 percent is excluded from the computation of your FAS.

Also, payment for up to 30 days of accumulated unused vacation will be included in your FAS calculation if:

  • Your date of membership is before April 1, 1972; and
  • Your FAS is based on the 36 months of earnings immediately preceding your date of retirement.
Tiers 2 and 3

If the earnings in any year included in the FAS period exceed the average of the previous two years by more than 20 percent, the amount in excess of 20 percent is excluded from the computation of your FAS.

Payment for accumulated vacation is not included in the calculation of your FAS.

Tier 5

If the earnings in any year included in the FAS period exceed the average of the previous two years by more than 20 percent, the amount in excess of 20 percent is excluded from the computation of your FAS.

Payment for accumulated vacation is not included in the calculation of your FAS, and the amount of overtime that can be included in the FAS is limited to 15 percent of your salary in any given year.

Tier 6

If the earnings in any year included in the FAS period exceed the average of the previous four years by more than 10 percent, the amount in excess of 10 percent is excluded from the computation of your FAS.

Payment for accumulated vacation is not included in the calculation of your FAS. Earned compensation which exceeds the Governor’s annual salary, currently $179,000, is excluded, as well as salary paid by more than two participating employers. The amount of overtime that can be included in the FAS is limited to 15 percent of your salary in any given year.