Keyword Analysis & Research: nycers pension loan form

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Frequently Asked Questions

Who can apply for a nycers pension loan?

Application for eligible Tier 3, Tier 4 and Tier 6 Basic and Special Plan members who wish to apply for a NYCERS pension loan. For Tier 1 and Tier 2 members who wish to apply for a loan. ONLY for Tier 3, Tier 4 and Tier 6 Basic and Special Plan members who have submitted a Loan Application and the Voucher Date has not passed.

Will I receive a 1099 from nycers?

You will receive a 1099 from NYCERS for the taxable portion of a loan. If you are not taking a loan at or near retirement and all or part of your loan is taxable, NYCERS offers you the opportunity to have 10% of the taxable portion withheld from your loan check upon applying.

What if nycers cannot cancel my online loan application?

If NYCERS cannot cancel your online loan application after you submit the cancellation request online, a member of the Loans Unit will contact you. If you apply for the maximum and see that the maximum increases during the processing time, you do not need to submit a revised application.

How long does it take to get a nycers loan?

Once you submit your application, NYCERS will process it in approximately 10 business days (or, if you are applying in advance, within 10 days after your eligibility date). If you apply online and select EFT, your loan will be processed in three (3) business days.

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