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Office of the New York State Comptroller’s Seal

NYS Comptroller

Thomas P. DiNapoli

Coordinated Plan

For ERS Tier 5 Members

(Article 15)

Eligibility, the Benefit and Filing

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Eligibility

You will be eligible for a service retirement benefit when you reach age 55 and have ten or more years of credited service.

For the full retirement benefit, you must be 62 years old at retirement. You may retire as early as age 55, but you will receive a reduced benefit. Uniformed court officers or peace officers employed by the Unified Court System that have at least 30 years of credit may retire with a full benefit as early as age 55.

The Benefit
  • If you retire with less than 20 years of service credit, your benefit will equal 1.66 percent of your Final Average Salary (FAS) for each year of service.
  • With 20 to 30 years of service credit, your benefit will equal 2 percent of your FAS, multiplied by your years of credited service.
  • For each year of credited service beyond 30 years, you will receive 1.5 percent of your FAS.

Examples:

At age 62, with 19 years of service and an FAS of $35,000:
$35,000 × 1.66% × 19 years = $11,039 per year $920 per month
At age 62, with 20 years of service and an FAS of $35,000:
$35,000 × 2% × 20 years = $14,000 per year $1,167 per month
At age 62, with 31 years of service and an FAS of $35,000:
$35,000 × 2% × 30 years = $21,000 per year
  plus
$35,000 × 1.5% × 1 year = $525 per year
$21,525 per year $1,794 per month
Filing

Your Application for Service Retirement (RS6037) Adobe pdf must be on file with the Office of the State Comptroller at least 15 days, but not more than 90 days, before the date on which your retirement will occur. The 15-day filing requirement is waived if you are over age 70 at retirement.