If you are in the Police and Fire Retirement System (PFRS), no matter which retirement tier and plan you’re covered under, there are important milestones you need to know. Understanding your milestones will help you develop a sound financial plan. Select your tier and whether you are in a 20- or 25-year retirement plan from the Contents on the left or scroll down to see how your years of service affect your retirement benefits.
For specific information about your retirement plan, go to our Find Your NYSLRS Retirement Plan Publication page and follow the instructions to locate your plan publication.
Tier 2 — 20-Year Retirement Plan
Before Retirement:
- Immediately upon joining the system, you are covered by certain job-related death and disability benefits.
- After 90 days of service credit, you are covered by a non-job-related death benefit.
- With 5 years of service credit, you become vested and are entitled to a monthly benefit that may start as early as age 55.
- With 10 or more years of service credit, you are:
- Eligible to apply for a non-job-related disability benefit.
- Eligible for an out-of-service death benefit, if you leave public employment and die prior to your retirement.
- With 20 years of service creditable in your special plan, you are eligible to retire at any age.
- If your employer has adopted Section 384-e, you will receive an additional benefit for each year of special plan service credit over 20 years.
- A maximum of 32 years of service credit can be used in your pension calculation.
- If you are 55 or older at retirement and are eligible for both regular plan and special plan benefits, you will receive the greater benefit. A regular plan is based on age and years of service.
After Retirement:
- After you retire and begin collecting a monthly benefit, you will receive annual cost-of-living (COLA) increases when you meet eligibility requirements.
Tier 2 & Tier 3 (Article 11) — 25-Year Retirement Plan
Tier 3 members: This information applies to you if you elected coverage under your employer’s 25-year plan and your employer does not offer a one-year final average earnings benefit. If you elected your employer’s 25-year plan and your employer does offer a one-year final average earnings benefit, you are covered under the Tier 3 Article 14 retirement plan (below).
Before Retirement:
- Immediately upon joining the system, you are covered by certain job-related death and disability benefits.
- After 90 days of service credit, you are covered by a non-job-related death benefit.
- With 5 years of service credit, you become vested and are entitled to a monthly benefit that may start as early as age 55.
- With 10 or more years of service credit, you are:
- Eligible to apply for a non-job-related disability benefit.
- Eligible for an out-of-service death benefit, if you leave public employment and die prior to your retirement.
- With 25 years of service creditable in your special plan, you are eligible to retire at any age.
- If your employer has adopted Section 384(f) and you have elected it, you will receive an additional benefit for each year of special plan service credit over 25 years.
- A maximum of 32 years of service credit can be used in your pension calculation.
- If you are 55 or older at retirement and are eligible for both regular plan and special plan benefits, you will receive the greater benefit. A regular plan is based on age and years of service.
After Retirement:
- After you retire and begin collecting a monthly benefit, you will receive annual cost-of-living (COLA) increases when you meet eligibility requirements.
Tier 3 — Article 14 Retirement Plan
Before Retirement:
- Immediately upon joining the system, you are covered by certain job-related death and disability benefits.
- After 90 days of service credit, you are covered by a non-job-related death benefit.
- With 5 years of service credit, you:
- Become vested and are entitled to a monthly benefit when you reach the retirement age specified by your plan. (You will forfeit the monthly benefit if you withdraw your contributions.)
- Are eligible to apply for a non-job-related disability benefit.
- With 10 or more years of service credit, you are:
- Eligible for an out-of-service death benefit, if you leave public employment and die prior to your retirement.
- No longer able to withdraw your membership and receive a refund of your contributions.
- With 20 years of service creditable in your plan, you are eligible for early retirement.
- With 22 years of service creditable in your plan, you are eligible for normal retirement.
- With 25 years of service credit, or at retirement, whichever occurs first, you are no longer required to contribute.
After Retirement:
- After you retire and begin collecting a monthly benefit, you will receive annual cost-of-living (COLA) increases when you meet eligibility requirements.
Tier 5 — 20-Year Retirement Plan
Before Retirement:
- Immediately upon joining the system, you are covered by certain job-related death and disability benefits.
- After 90 days of service credit, you are covered by a non-job-related death benefit.
- With 5 years of service credit, you become vested and are entitled to a monthly benefit that may start as early as age 55. (You will forfeit the monthly benefit if you are required to contribute and you withdraw your contributions.)
- With 10 or more years of service credit, you are:
- Eligible to apply for a non-job-related disability benefit.
- Eligible for an out-of-service death benefit, if you leave public employment and die prior to your retirement.
- No longer able to withdraw your membership and receive a refund of any mandatory contributions.
- With 20 years of service creditable in your special plan, you are eligible to retire at any age.
- If your employer has adopted Section 384-e, you will receive an additional benefit for each year of special plan service credit over 20 years.
- A maximum of 32 years of service credit can be used in your pension calculation.
- With 20 years of service credit (32 years if your employer has adopted Section 384-e), you are no longer required to contribute 3 percent.
- If you are 55 or older at retirement and are eligible for both regular plan and special plan benefits, you will receive the greater benefit. A regular plan is based on age and years of service.
After Retirement:
- After you retire and begin collecting a monthly benefit, you will receive annual cost-of-living (COLA) increases when you meet eligibility requirements.
Tier 5 — 25-Year Retirement Plan
Before Retirement:
- Immediately upon joining the system, you are covered by certain job-related death and disability benefits.
- After 90 days of service credit, you are covered by a non-job-related death benefit.
- With 5 years of service credit, you become vested and are entitled to a monthly benefit that may start as early as age 55. (You will forfeit the monthly benefit if you are required to contribute and you withdraw your contributions.)
- With 10 or more years of service credit, you are:
- Eligible to apply for a non-job-related disability benefit.
- Eligible for an out-of-service death benefit, if you leave public employment and die prior to your retirement.
- No longer able to withdraw your membership and receive a refund of any mandatory contributions.
- With 25 years of service creditable in your special plan, you are eligible to retire at any age.
- If your employer has adopted Section 384(f) and you have elected it, you will receive an additional benefit for each year of special plan service credit over 25 years.
- A maximum of 32 years of service credit can be used in your pension calculation.
- With 25 years of service credit, (32 years if your employer offers and you elected Section 384(f)), you are no longer required to contribute 3 percent.
- If you are 55 or older at retirement and are eligible for both regular plan and special plan benefits, you will receive the greater benefit. A regular plan is based on age and years of service.
After Retirement:
- After you retire and begin collecting a monthly benefit, you will receive annual cost-of-living (COLA) increases when you meet eligibility requirements.
Tier 6 — 20-Year Retirement Plan
Before Retirement:
- Immediately upon joining the system, you are covered by certain job-related death and disability benefits.
- After 90 days of service credit, you are covered by a non-job-related death benefit.
- With 5 years of service credit, you become vested and are entitled to a monthly benefit that may start as early as age 55. (You will forfeit the monthly benefit if you are required to contribute and you withdraw your contributions.)
- With 10 or more years of service credit, you are:
- Eligible to apply for a non-job-related disability benefit.
- Eligible for an out-of-service death benefit, if you leave public employment and die prior to your retirement.
- No longer able to withdraw your membership and receive a refund of any mandatory contributions.
- With 20 years of service creditable in your special plan, you are eligible to retire at any age.
- If your employer has adopted Section 384-e, you will receive an additional benefit for each year of special plan service credit over 20 years.
- A maximum of 32 years of service credit can be used in your pension calculation.
- With 20 years of service credit (32 years if your employer has adopted Section 384-e), you are no longer required to contribute.
- If you are 55 or older at retirement and are eligible for both regular plan and special plan benefits, you will receive the greater benefit. A regular plan is based on age and years of service.
- If you are age 63, vested and off public payroll, you can apply to receive a vested retirement benefit.
After Retirement:
- After you retire and begin collecting a monthly benefit, you will receive annual cost-of-living (COLA) increases when you meet eligibility requirements.
Tier 6 — 25-Year Retirement Plan
Before Retirement:
- Immediately upon joining the system, you are covered by certain job-related death and disability benefits.
- After 90 days of service credit, you are covered by a non-job-related death benefit.
- With 5 years of service credit, you become vested and are entitled to a monthly benefit that may start as early as age 55. (You will forfeit the monthly benefit if you are required to contribute and you withdraw your contributions.)
- With 10 or more years of service credit, you are:
- Eligible to apply for a non-job-related disability benefit.
- Eligible for an out-of-service death benefit, if you leave public employment and die prior to your retirement.
- No longer able to withdraw your membership and receive a refund of any mandatory contributions.
- With 25 years of service creditable in your special plan, you are eligible to retire at any age.
- If your employer has adopted Section 384(f) and you have elected it, you will receive an additional benefit for each year of special plan service credit over 25 years.
- A maximum of 32 years of service credit can be used in your pension calculation.
- With 25 years of service credit, (32 years if your employer offers and you elected Section 384(f)), you are no longer required to contribute.
- If you are 55 or older at retirement and are eligible for both regular plan and special plan benefits, you will receive the greater benefit. A regular plan is based on age and years of service.
- If you are age 63, vested and off public payroll, you can apply to receive a vested retirement benefit.
After Retirement:
- After you retire and begin collecting a monthly benefit, you will receive annual cost-of-living (COLA) increases when you meet eligibility requirements.
Rev. 10/22