| Membership Dates |
Tier 3: July 27, 1976 through August 31, 1983 Tier 4: September 1, 1983 through December 31, 2009 | January 1, 2010 through March 31, 2012 | April 1, 2012 and after |
| Vesting |
After earning 5 years of service credit. |
| Employee Contributions |
| 3% of gross salary until 10 years of membership or service credit. | 3% of gross salary for all years of public service except: - State Correction Officers whose contributions are limited to 30 years.
- Uniformed Court and Peace Officers (UCPOs) employed by the Unified Court System, who contribute 4% for all years of public service.
See Tier 5 Member Contributions. | 3% – 6% based on annual earnings. Members contribute for all years of public service (except State Correction Officers whose contributions are limited to 30 years). See Tier 6 Member Contributions. |
| Retirement Age |
- Full benefits at age 62.
- Retire as early as age 55.
- Benefits permanently reduced for retiring between age 55 and 62 with less than 30 years of credited service (see Reductions for Early Retirement below).
- No benefit reduction with at least 30 years of credited service.
| - Full benefits at age 62.
- Retire as early as age 55.
- Benefits permanently reduced for retiring between age 55 and 62 (see Reductions for Early Retirement below).
- Exception for UCPOs: No benefit reduction with at least 30 years of creditable service.
| - Full benefits at age 63.
- Retire as early as age 55.
- Benefits permanently reduced for retiring between age 55 and 63 (see Reductions for Early Retirement below).
|
| Reductions for Early Retirement |
27% permanent reduction at age 55 with less than 30 years. See the entire benefit reduction chart. | 38.33% permanent reduction at age 55 (unless UCPO with at least 30 years). See the entire benefit reduction chart. | 52% permanent reduction at age 55. See the entire benefit reduction chart. |
| Final Average Earnings (FAE) Calculation |
The average of the earnings during the three highest consecutive years of service, subject to limitations. |
| FAE Limitation |
The earnings in any year cannot exceed the average of the previous two years by more than 10%. |
| Payments Not Included in FAE |
Tiers 3 – 6: - Unused sick leave
- Payments made as a result of working vacation
- Any form of termination pay
- Payments made in anticipation of retirement
- Lump sum payments for deferred compensation
- Any payments for time not worked
- For members who joined on or after April 1, 1996, earnings above the IRC Section 401(a)(17) limit
Additionally for Tier 6: |
| Overtime Limit |
| None | - Overtime pay that exceeds the limit cannot be used in the FAE calculation.
- The limit increases by 3% each calendar year (January 1 – December 31). See Overtime Limits for Tier 5.
| - Overtime pay that exceeds the limit cannot be used in the FAE calculation.
- The limit increases each calendar year (January 1 – December 31) based on the consumer price index as of September 30 of the previous year. See Overtime Limits for Tier 6.
|
Service Retirement Pension Benefit Calculation —
Most ERS members are covered under the Article 15 Retirement Plan |
Coordinated Plan (Articles 14 & 15) - With less than 20 years of credited service:
1.66% of FAE × years of service - With 20–30 years of credited service:
2% of FAE × years of service - With more than 30 years of credited service:
2% of FAE × 30 years of service +
1.5% of FAE × years of service beyond 30
For information on other ERS retirement plans, refer to our Publications page. | Coordinated Plan (Article 15) - With less than 20 years of credited service:
1.66% of FAE × years of service - With 20–30 years of credited service:
2% of FAE × years of service - With more than 30 years of credited service:
2% of FAE × 30 years of service +
1.5% of FAE × years of service beyond 30
For information on other ERS retirement plans, refer to our Publications page. | Coordinated Plan (Article 15) - With less than 20 years of credited service:
1.66% of FAE × years of service - With 20 years of credited service:
1.75% of FAE × 20 years of service - With more than 20 years of credited service:
1.75% of FAE × 20 years of service +
2% of FAE × years of service beyond 20
For information on other ERS retirement plans, refer to our Publications page. |
| Sick Leave Credit (Section 41(j) RSSL) |
| Eligible members may receive service credit for up to 165 days (200 days for some members employed by New York State) of unused, unpaid sick leave days at retirement. | Eligible members may receive service credit for up to 165 days (200 days for some members employed by New York State) of unused, unpaid sick leave days at retirement. | Eligible members may receive service credit for unused, unpaid sick leave days at retirement. The maximum number of creditable sick leave days is generally 100 but can be 165 (or 200 days for some members employed by New York State). |
