Tag Archives: vesting

NYSLRS – One Tier at a Time: ERS Tier 1

When you joined the New York State and Local Retirement System (NYSLRS), you were assigned to 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 series, NYSLRS – One Tier at a Time, walks through each tier and gives you a quick look at the benefits members are eligible for before and at retirement.

One of our smallest tiers is ERS Tier 1, which represents 0.7 percent of NYSLRS’ total membership. Overall, there are 4,520 ERS Tier 1 members. Today’s post looks at the major Tier 1 retirement plan in ERS – the New Career Plan (Section 75-h or 75-i).
ERS-Tier-1-Benefits_001
If you’re an ERS Tier 1 member in an alternate plan, you can find your retirement plan publication below for more detailed information about your benefits:

Be on the lookout 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 Tier 2

When you joined the New York State and Local Retirement System (NYSLRS), you were assigned to 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 series, NYSLRS – One Tier at a Time, walks through each tier and gives you a quick look at the benefits members are eligible for before and at retirement.

NYSLRS created Tier 2 on July 1, 1973, marking the first time NYSLRS created any new member group. Today’s post looks at one of the major Tier 2 retirement plans in ERS. ERS Tier 2 as a whole represents less than one percent of NYSLRS’ total membership.

ERS-Tier-2-Benefits_001aIf you’re an ERS Tier 2 member in an alternate plan, you can find your retirement plan publication below for more detailed information about your benefits:

Be on the lookout for more NYSLRS – One Tier at a Time posts. Next time, we’ll take a look at another ERS tier. Want to learn more about the different NYSLRS retirement tiers? Check out some earlier posts in the series:

NYSLRS – One Tier at a Time: PFRS Tier 1

When you joined the New York State and Local Retirement System (NYSLRS), you were assigned to 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 series, NYSLRS – One Tier at a Time, walks through each tier and gives you a quick look at the benefits members are eligible for before and at retirement.

Today’s post looks at Tier 1 in the Police and Fire Retirement System, which has only 123 members. PFRS Tier 1 represents the smallest percentage – 0.4 percent – of NYSLRS’ total membership.

PFRS-Tier-1-Benefits_002

If you’re a PFRS Tier 1 member, you can find your retirement plan publication below for more detailed information about your benefits:

Be on the lookout for more NYSLRS – One Tier at a Time posts. Next time, we’ll take a look at another one of our ERS tiers. Want to learn more about the different NYSLRS retirement tiers? Check out some earlier posts in the series:

NYSLRS – One Tier at a Time: PFRS 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 Police and Fire Retirement System. Anyone who joined PFRS on or after April 1, 2012 is in Tier 6. PFRS Tier 6 members currently make up 8.4 percent of NYSLRS’ total membership, totaling 2,861 members, making it the second largest tier in PFRS.

Check out the graphic below for the basic retirement information for PFRS Tier 6 members.

PFRS-Tier-6-Benefits

Where to Find PFRS Tier 6 Information

If you’re a PFRS Tier 6 member, please find your retirement plan publication from the list below for more details about your benefits:

Please visit our Publications page for special plans under miscellaneous titles.

Stay tuned for more NYSLRS – One Tier at a Time posts. Next time, we’ll take a look at another ERS tier. 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 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: PFRS Tier 2

Today’s post looks at Tier 2 in the Police and Fire Retirement System (PFRS). A majority of PFRS members are in Tier 2, which began on July 31, 1973 and ended on June 30, 2009. Most Police and Fire Retirement System members are in “special” retirement plans that allow for retirement after 20 or 25 years, regardless of age, with­out penalty.

The special plans that cover municipal police officers and firefighters fall under Sections 384, 384(f), 384-d, and 384-e of Retirement and Social Security Law. As of March 31, 2017, there were 18,553 Tier 2 members in these plans; most of whom are covered by either Section 384-d (34.9 percent) or 384-e (62.8 percent).

Check out the graphic below for the basic retirement information for PFRS Tier 2 members.

PFRS-Tier-2-Benefits

*This graphic was updated on 2/19/15.

For more detailed information about your benefits, please review your retirement plan publication: Special 20- and 25-Year Plans for PFRS Tier 1, 2, 3, 5 and 6 Members (Sections 384, 384-d and 384-e) (VO1517).

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

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.