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Of Birth / First Name M.I. MM/DD/YYYY / Last Name In Care of (if applicable) Address Apt. Number City State Zip Code ELECTING AN OPTION The law requires that you file your option election within 60 days of the date NYCERS mails a Retirement Options letter to you. The option you elect is important to both you and your beneficiary. Be sure you understand each option, and elect the one that best fulfills your needs. Double check that you have marked the proper box for the option that y.

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The cost-of-living adjustment (COLA) for September 2022 through August 2023 benefit payments is 3%. As a result, an eligible retired member with a maximum retirement benefit of $18,000 or more received a maximum increase of $45 per month beginning with the September 30, 2022 payment.

SUMMARY OF PROVISIONS: This legislation creates a retirement incentive for certain individuals who are 50 years of age with 25 years of creditable service or individ- uals who are 55 years of age with 10 years of creditable service.

If you are an ERS Member... You are in:If you joined:Tier 1before July 1, 1973Tier 2July 1, 1973 through July 26, 1976Tier 3July 27, 1976 through August 31, 1983Tier 4September 1, 1983 through December 31, 20092 more rows

Social Security benefits and Supplemental Security Income (SSI) payments will increase by 8.7% in 2023. This is the annual cost-of-living adjustment (COLA) required by law.

You will be eligible for a service retirement benefit when you reach age 55 and have five or more years of credited member service.

Under Tier 1, your pension is increased by 3% of the original amount on January 1 every year after you retire. Your first annual increase is based upon the number of months you are retired in your first year. If your pension effective date is January 1, your first year increase will also be 3%.

Retirees who receive their pension through direct deposit will also receive a notification of the net change in your monthly pension amount at the end of September if you are eligible to receive this COLA increase.

This legislation would provide a temporary retirement incentive during the fiscal year 2021-2022, and would allow members who are eligible to retire without an early retirement reduction upon attainment of at least age fifty-five and with at least twenty-five years of service.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232