Non-Contributory Plan With Guaranteed Benefits
For ERS Tier 1 Members
(Section 75-d and 75-e)
Service Retirement Benefit
You are eligible for a service retirement benefit at age 55. However, if you recently changed employers, you may be required to complete two years of service before you can retire with the benefits provided by this plan.
At retirement, you will receive a pension equal to:
- 1/60th (1.66 percent) of your FAS for each year of service credit, including service credit you have received for military duty and prior service; and
- An annuity purchased by any voluntary annuity savings contributions you made and the interest they earned.
Your Application for Service Retirement (RS6037) 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.