NYSLRS – One Tier at a Time: ERS Tier 6

When you join the New York State and Local Retirement System (NYSLRS), you’re assigned a tier based on the date of your membership. There are six tiers in the Employees’ Retirement System (ERS) and five in the Police and Fire Retirement System (PFRS). Each tier has a different benefit structure established by New York State legislation. Our series, NYSLRS – One Tier at a Time, walks through each tier to give you a quick look at the benefits in both ERS and PFRS.

Today’s post looks at Tier 6 in the Employees’ Retirement System. Anyone who joined ERS on or after April 1, 2012 is in Tier 6. There are 91,607 ERS Tier 6 members as of March 31, 2015, making them the second largest tier group in ERS.

If you’re an ERS Tier 6 member, you can find your retirement plan publication from the list below for more detailed information about your benefits:

Be on the lookout for the last NYSLRS – One Tier at a Time post next month. Want to learn more about the different NYSLRS retirement tiers? Check out some earlier posts in the series:

One thought on “NYSLRS – One Tier at a Time: ERS Tier 6

  1. Matthew

    Tier 5 would have been great with a 30 year rule for the elimination of the benefit reduction. Tier 6 just seems like a horrible, mis-guided over-correction that allows the state to use the employer contributions on younger Tier 6 members to subsidize the the pension payments to other tier members. It leaves young life-long Tier 6 members with an effective employer contribution of <2% when you convert the values to compare it to defined contribution plans. McDonald's employees get a higher employer match…

    Hopefully, overtime, Tier 6 members can win back some of the benefits that once justified the lower wages associated with state service, or gain new benefits like a freeze on retirement healthcare payment increases…though if the state doesn't start funding these liabilities we might as well say goodbye to affordable retirement healthcare as well!

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