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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)

Retiring Before Age 62

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If you retire between the ages of 55 and 62, your benefit will be reduced unless you are a uniformed court officer or peace officer employed by the Unified Court System and have at least 30 years of credit. The percentage of the benefit reduction is prorated based on your exact age at retirement.

Age at Retirement Percentage of Reduction
55 38.33
56 33.33
57 28.33
58 23.33
59 18.33
60 13.33
61 6.67
62 0

It is important to know that once you retire with a reduced benefit, the reduction is permanent — it does not end when you turn 62.

Examples:

At age 55, with 19 years of service and an FAS of $35,000:
$35,000 × 1.66% × 19 years = $11,039 per year
  − $4,231*
$6,808 per year $567 per month
At age 55, with 20 years of service and an FAS of $35,000:
$35,000 × 2% × 20 years = $14,000 per year
  − $5,366*
$8,634 per year $719 per month