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Office of the New York State Comptroller’s Seal

NYS Comptroller

Thomas P. DiNapoli

Coordinated Plan

For ERS Tier 6 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 63 years old at retirement. You may retire as early as age 55, but you will receive a reduced benefit.

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 credit.
  • With 20 years of service credit, your benefit will equal 1.75 percent of your FAS for each year of service credit (35 percent of your FAS).
  • If you retire with more than 20 years of service credit, you will receive an additional 2 percent of your FAS for each year of service credit in excess of 20 years.

Examples:

At age 63, 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 63, with 20 years of service and an FAS of $35,000:
$35,000 × 1.75% × 20 years = $12,250 per year $1,021 per month
At age 63, with 32 years of service and an FAS of $35,000:
$35,000 × 1.75% × 20 years = $12,250 per year
  plus
$35,000 × 2% × 12 years = $8,400 per year
$20,650 per year $1,721 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.