Keyword Analysis & Research: tier 6 nycers pension

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Frequently Asked Questions

What is the retirement age for ERS tier 6?

Although ERS members can generally retire as early as age 55 with reduced benefits, the full retirement age for Tier 6 members is age 63. For ERS Tier 6 members in regular plans (Article 15), the benefit is 1.66 percent of your FAE for each full year you work, up to 20 years.

What is tier 6 in nyslrs?

Members who joined NYSLRS since April 1, 2012 are in Tier 6. Your NYSLRS pension will be based on your Final Average Earnings (FAE) and the number of years you work in public service. FAE is the average of the five highest-paid consecutive years. Note: The law limits the FAE of all members who joined on or after June 17, 1971.

Can your nyslrs pension help you reach your retirement goals?

Your NYSLRS pension could go a long way in helping you reach that goal, especially when combined with your Social Security benefit and your own retirement savings. Here’s a look at how Employees’ Retirement System (ERS) members in Tier 6 (who are vested once they’ve earned five years of credited service ), can reach that goal.

How do I transfer my nycers membership to another system?

If you accept another position with the City or State of New York (or any of its political subdivisions) that entitles you to membership in another City or State retirement system, you may use this form to transfer your NYCERS membership to that system.

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