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  • Under 212 Of The Retirement And Social Security Law (rssl) - Nycers

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F353 NYCERS USE ONLY *353* Certificate of Employment Under 212 of the Retirement and Social Security Law (RSSL) This form is to be completed by retirees, other than disability retirees, who have reentered.

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Understanding Section 212 Your earnings are generally unlimited beginning in the calendar year you turn 65. If you are under the age of 65 and you earn more than the Section 212 limit during a calendar year, you must either: Pay back NYSLRS for the pension payments you received after the date you reached the limit.

Tier 4 – Members who joined NYCERS between July 27, 1976 and March 31, 2012 except Correction Officers and DA Investigators. Tier 6 – Members who joined NYCERS on or after April 1, 2012 except Correction Force and certain Sanitation Force and DA Investigators.

The 62/5 Retirement Plan, also referred to as the Basic Tier 4 Plan, allows participants to retire with a full pension at age 62 with at least five years of Credited Service, or with a reduced pension between the ages of 55 and 61.

In addition, if you are under the age of 59½ you will also be subject to the 10% early distribution penalty tax assessed by the IRS. Exceptions to this penalty may apply, especially if you leave City service during or after the year in which you attain age 55.

What Is a Pop-Up Option? A pop-up option is a joint and survivor annuity or pension option, generally limited to married couples, that is triggered if the annuitant or pension plan member's spouse predeceases the plan member. The pop-up option then boosts the plan member's pension after the spouse's death.

Tier 4 Transit 25/55 1.5% times FAS times the number of years of Allowable Service in the Transit Authority in excess of 30 years of such service. In addition to these percentages, a key factor in the calculation of your retirement benefit is your FAS. In general, your FAS is a three-year average of wages earned.

Taxes at Retirement However, you may roll over the taxable portion to an IRA or Employer Plan. In the event you choose not to roll over the taxable amount, NYCERS is required to withhold 20% Federal tax before issuing the check.

Under Tier 4, you would receive 1 ½% for each additional service year beyond 30. If you retire before age 62 with less than 30 years of service, the pension factor is reduced based on your age. If you are a Tier 3 member, you may retire under either Tier 3 or 4.

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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