Elder Form For Pension In Bronx
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FAQ
Sign in to your Retirement Online account. From the top of your Account Homepage, in the 'I want to' section, click the “Update Direct Deposit” link. You can change banks or switch accounts within the same bank using Retirement Online. Be sure that the account number and routing number you enter are correct.
With 20 years of creditable service, you will receive a retirement benefit of 50 percent of your Final Average Salary (FAS).
Tier 6 Basic Plan members must contribute until they separate from City service or until they retire. When can I retire under the Tier 6 Basic Plan? Tier 6 Basic Plan members must have a minimum of five years of Credited Service and be at least age 63 to retire and collect an unreduced Service Retirement Benefit.
Most members are eligible to file a retirement application between 15 to 90 days before their retirement date. The fastest way to file is through your Retirement Online account. With Retirement Online, you can upload all your retirement-related documents as you step through the application process.
With at least 20 years of creditable service, your pension will be: 50 percent of your FAE; plus. 1.66 percent of your FAE for each year of creditable service beyond 20 years.
For the full retirement benefit, you must be 62 years old at retirement or, if you have 30 years of credited service, you may retire as early as age 55. With less than 30 years of service, you may retire as early as age 55, but you will receive a reduced benefit.
You can file for a service retirement benefit online. Sign in to your Retirement Online account, go to the 'My Account Summary' area of your Account Homepage and click “Apply for Retirement.” Paper forms are available on our Forms page, or from our Call Center or your employer.
You will be eligible for a service retirement benefit when you reach age 55, and have five or more years of service credit earned under this plan after July 1, 1973.