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Office of the New York State Comptroller’s Seal

NYS Comptroller

Thomas P. DiNapoli

Special 20- and 25-Year Plans

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

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

Partial Lump Sum Payment

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Eligible Police and Fire Retirement System members can choose to receive a reduced lifetime retirement benefit in exchange for a one-time lump sum payment. The lump sum payment is made when your retirement benefit is finalized.


To be eligible to choose a partial lump sum payment (PLS), you must:

  • Retire under a special 20- or 25-year plan;
  • Retire on or after April 1, 2008;
  • Have been eligible to retire with a service retirement benefit for at least one year prior to your date of retirement; and
  • Retire with a service retirement benefit (not a disability retirement benefit).*
Choosing a Lump Sum Payment

When you file for retirement, if you are eligible for PLS, we will send you a special Option Election Form so you can choose a PLS payment along with the standard retirement option you want for your continuing lifetime benefit.

Lump Sum Payment Amounts

A PLS payment is a percentage of the actuarial value of your retirement benefit at the time you retire. The chart below outlines the various percentages available to you based on the number of years you have been eligible to retire. Your Single Life Allowance will be reduced by the same percentage as the PLS option you have chosen. If you choose a different option, that option amount will be calculated based on your reduced Single Life Allowance.

Years You’ve Been Eligible to Retire Available PLS Payment Options*
*A percentage of the value of your retirement benefit.
1 5%
2 5 or 10%
3 5, 10 or 15%
4 5, 10, 15 or 20%
5 or more 5, 10, 15, 20 or 25%
For More Information

For more information, including the taxability of a PLS payment, please refer to our publication, Partial Lump Sum Payment at Retirement (VO1750).

*If you receive a PLS payment under a service retirement benefit and are later approved for a disability retirement benefit, the PLS payment must be repaid if you convert to the disability benefit. Additionally, severe tax consequences may apply in some situations.