Friday, August 16, 2013

Your Retirement Plan - Office of the New York State Comptroller

Your Retirement Plan - Office of the New York State ComptrollerYour Retirement Plan Special 20- and 25-Year Plans For PFRS Tier 1, 2, 3, 5 and 6 Members (Sections 384, 384-d and 384-e) New York State Office of the State Comptroller Thomas P. DiNapoli New York State and Local Police and Fire Retirement System A Message From Comptroller Thomas P. DiNapoli As a member of the Retirement System, you are covered by a plan that provides important benefits. This publication explains some of those benefits and the services available to you as a member of our system, including: • Benefits you will receive at retirement if you meet the service and age requirements (service retirement benefits); • Benefits you may receive if you become permanently disabled (disability retirement benefits); •

Benefits your beneficiary may receive if you die while working for a public employer or, if eligible, after you leave public employment (death benefits); and • Benefits you may receive at a later date, even if you leave public service before you become eligible to retire (vested benefits). I am joined by a staff of dedicated professionals in my commitment to helping you make informed decisions about your future. I encourage you to contact us with any questions or suggestions you might have. Sincerely, Thomas P. DiNapoli Stat e Comptroller Contents About Your Membership. . . . . . . . . . . . . . . . . . . . . . . . . 3 Service Credit .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 Final Average Salary (FAS) .. . . . . . . . . . . . . . . . . . . . . 15 Service Retirement Benefits .. . . . . . . . . . . . . . . . . . . 21 Choosing a Payment Option .. . . . . . . . . . . . . . . . . . . 27 Partial Lump Sum Payment (PLS) . . . . . . . . . . . . . . 32 Items That May Affect Your Pension .. . . . . . . . . . 34 Vested Retirement Benefit .. . . . . . . . . . . . . . . . . . . . 41 Disability Retirement Benefits . . . . . . . . . . . . . . . . . 43 Death Benefits .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 50 World Trade Center Presumption .. . . . . . . . . . . . . 57 Receiving Your Benefits .. . . . . . . . . . . . . . . . . . . . . . . . 58 How to Stay...

Website: www.osc.state.ny.us | Filesize: 757kb
No of Page(s): 66
Download Your Retirement Plan - Office of the New York State Comptroller.pdf

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