Tag Archives: One Tier at a Time

NYSLRS – One Tier at a Time: PFRS Tier 5

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 final post in our series looks at Tier 5 in the Police and Fire Retirement System. Anyone who joined PFRS from January 9, 2010 through March 31, 2012­ is in Tier 5. There are 1,731 PFRS Tier 5 members as of March 31, 2015, making them the third largest tier group in PFRS.PFRS-Tier-5-BenefitsIf you’re a PFRS Tier 5 member, you can find your retirement plan publication from the list below for more detailed information about your benefits:

Want to learn more about the different NYSLRS retirement tiers? Check out some earlier posts in this series:

NYSLRS – One Tier at a Time: ERS Tier 5

When you joined the New York State and Local Retirement System (NYSLRS), you were 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 State Law.

Today’s post looks at ERS Tier 5, which covers ERS members who joined from January 1, 2010 through March 31, 2012. As of March 31, 2016 there were 53,123 ERS Tier 5 members — 8.7 percent of NYSLRS’ total membership.

The graphic below illustrates basic retirement information for Tier 5 members.ERS Tier 5

Where to Find More ERS Tier 5 Information

ERS Tier 5 members can find more details about their benefits in the publications listed below:

For benefit information about special plans for miscellaneous titles, please visit our publications page.

Stay tuned for more NYSLRS – One Tier at a Time posts. Want to learn more about the different NYSLRS retirement tiers? Check out some earlier posts in the series:

NYSLRS – One Tier at a Time: ERS Tiers 3 & 4

(We know that’s two, but let us explain)

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) – so there are many different ways to determine benefits for our members. Our new series, NYSLRS – One Tier at a Time, walks through each tier and gives you a quick look at the benefits the members are eligible for before and at retirement.

Today’s post looks at Tiers 3 and 4 in the Employees’ Retirement System. Now, we know these are technically two tiers, but many of the members in these tiers are eligible to retire under the same retirement plan: Article 14 (for Tier 3 members) or Article 15 (for Tier 3 and 4 members). They also represent the largest percentage – 64.2 percent – of our ERS membership. Of our current 496,441 ERS members, 318,939 are in Tiers 3 and 4.

Check out the graphic below for the basic retirement information for Tier 3 and 4 members.

If you’re an ERS Tier 3 or 4 member, find your retirement plan publication from the list below for more detailed information about your benefits:

Stay tuned for more NYSLRS – One Tier at a Time posts. Next time, we’ll take a look at one of our PFRS tiers.