Tier 6 Basic Plan Fact Sheet NYCERS ˙ ˙ˆ˙˜ ˝ ˚ ˙ˆ
compensation is compensation paid at a rate greater than the standard rate. The definition of wages excludes: 1. Wages in excess of the annual salary paid to the Governor of the State of New York ($250,000 for 2021); 2. Lump sum payments for deferred compensation, sick leave, accumulated vacation or other credits for time not worked; 3.
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Download Tier 6 Basic Plan Fact Sheet NYCERS ˙ ˙ˆ˙˜ ˝ ˚ ˙ˆ
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TIER 4 & 6 - NYCERS
www.nycers.orgFREQUENTLY ASKED QUESTIONS. The option package is the ultimate result of processing your retirement application and the waiting period differs. Usually it takes about 6 - 8 months after your last day paid. However, if there is an unusually large number of retirement applications filed at one time, such as during an Early
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57/5 Retirement Plan For Tier 4 Members - NYCERS
www.nycers.orgParticipants in the 57/5 Plan are entitled to other benefits appli-cable to Tier 4 members such as death benefits and disability benefits. Participants should refer to the Tier 4 62/5 Summary Plan Description for details on these benefits. SERVICE RETIREMENT do not pay Federal taxes on the contributions, only New York State and local taxes.
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Loans NYCERS
www.nycers.orgElectronic Fund Transfer, or EFT) to either a checking or savings account within 3 business days. NYCERS strongly recommends EFT because: • It is SAFE - eliminates the risk of your loan check being lost or stolen • It is FAST - no waiting for the check to clear your bank – the funds are immediately available
How to Find Your Member or Pension Number - NYCERS
www.nycers.orgDefinitions of Suffix Codes: The suffix at the end of your Pension Number is used to identify the type of pension you are receiving and can be either a number or a letter. The chart below explains the meaning of each suffix. Special instruction for MyNYCERS activation only:
New York State Retirement and Social Security Law §211
www.nycers.orgEarnings Limitations for Service Retirees #958 – Page 1. Income Limitations Pursuant to RSSL §507(d) The income limitations specified in RSSL §507(d) apply to Tier 3 General Members and, CO-20, CF-20, CC-20, 22-Year Corrections, and 22 …
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