Retirement Planning

Retirement is a big deal and we want you to be prepared. The resources below will help you. You can project your pension, learn about your NYSLRS pension benefits and find tips on financial planning for retirement. 

Understand Your NYSLRS Pension
Your Retirement Plan Describes Your Benefits

Becoming familiar with your retirement plan is vital to your retirement planning. Find your plan book on our Publications page to learn about the benefit eligibility requirements and calculations specific to your plan.

Get Credit for All of Your Public Service

Service credit determines your eligibility for retirement and disability benefits, death benefits and loans.

Understand Your Final Average Earnings (FAE)

Your Final Average Earnings (FAE) are one of the major components that determines the amount of your pension benefit.

Use Our Calculator to Project Your Pension

Our calculator will estimate your NYSLRS pension based on information you enter. You can enter different retirement dates, final average earnings and service credit totals to compare retirement outcomes.

Partial Lump Sum Payments at Retirement

Certain Police and Fire Retirement System (PFRS) and Employees’ Retirement System (ERS) members can receive a partial lump sum (PLS) payment at retirement, in exchange for a permanently reduced monthly benefit.

Preparing for Retirement
Designating a Power of Attorney

NYSLRS Special Durable Power of Attorney (POA) document allows someone to act on your behalf regarding retirement benefit transactions.

Divorce May Impact Your Benefits

Retirement benefits are considered marital property and can be divided between you and your ex-spouse when the marriage ends. Any division of your benefits must be stated in the form of a Domestic Relations Order (DRO).

Will You Work After Retirement?

If you are considering returning to work after retirement, you should be aware of the restrictions to post-retirement employment.

Get Financial Planning Tips

Read about retirement planning strategies. Save and invest money, get out of debt, understand Social Security, and estimate your retirement income.

Determine Your Retirement Needs

It’s important to understand your retirement needs, which could be as simple as making a list of all your expenses. Our Income and Expenses Worksheet can get you started.

Ready to Retire?
The Retirement Process

A step-by-step guide to the retirement process, including resources, factors to consider, what happens after you submit your application and post-retirement concerns. 

What to Do and When to Do It

This timeline walks you through important topics you’ll need to consider, and steps you should take starting 18 months before your retirement date. 

Ready to Retire? Schedule an Appointment.

If you’re nearing retirement, you may want to schedule a pre-retirement consultation to review your benefits and get answers to your questions.