Current Pension Topics: A Rundown of Age, Service Standards Determining Retirement Eligibility
By JOEL FRANK
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| Mr. Frank is a fee-only Retirement Financial Planner and a retired city high school Teacher of Accounting. He can be reached by telephone at (732) 536-9472, or via e-mail at rollover@optonline.net. |
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All retirement plans (there are many) administered by the New York City Employees Retirement System are of the Defined Benefit type. As such, you must have attained a minimum age and be credited with a minimum number of years of service in order to draw your retirement allowance. The following are the age and service requirements that must be met before you may retire.
Tip: In your own best interest, please make sure you are credited by the system for all allowable service you have rendered to the City/State of New York, no matter how brief or incidental that service may have been.
AGE AND SERVICE REQUIREMENTS FOR RETIREMENT ELIGIBILITY IN TIER 1 PLANS
| Plan |
Age |
Years of Service |
|
| Career Pension Plan (CPP/Plan A) |
55 |
25 years of Career Pension Plan Qualifying Service |
| Fifty-Five Year Increased Service Fraction Plan (ISF/Plan B) |
55 |
5 years of Credited Service |
| Age Fifty Five One Percent Plan (1/100) |
55 |
No Minimum |
| Dispatchers 25 Year Plan (D-25) |
No Age Requirement |
25 years of Allowable Service as a Dispatcher |
| EMT 25 Year Plan (E-25) |
No Age Requirement |
25 years of Allowable Service as an EMT |
| Sanitation Uniformed Force 20 Year Plan (S-20) |
No Age Requirement |
20 years of Allowable Sanitation Service |
| Sanitation Uniformed Force 25 Year Plan (S-25) |
No Age Requirement |
25 years of Allowable Sanitation Service |
| Special Officers 25 Year Plan (SPO) |
No Age Requirement |
25 years of Allowable Service as a Special Officer |
| Transit Authority Operating Force 20 Year Plan (T-20) |
50 |
20 years of Allowable Transit Authority Service |
AGE AND SERVICE REQUIREMENTS FOR RETIREMENT ELIGIBILITY IN TIER 2 PLANS
| Plan |
Age |
Service |
| Modified Career Pension Plan (CPP/Plan C) |
62 for full benefit, or as early as 55 with reduced benefit. |
25 years of Career Pension Plan Qualifying Service |
| Improved Career Pension Plan (CPP-I) |
55 |
25 years of Career Pension Plan Qualifying Service |
| Fifty-Five Year Increased Service Fraction Plan (ISF/Plan D) |
62 for full benefit, or as early as 55 with reduced benefit. |
5 years of Credited Service |
| Age Fifty Five One Percent Plan (1/100) |
62 for full benefit, or as early as 55 with reduced benefit. |
No Minimum |
| Automotive Service Workers 50/25 Plan (AUTI) |
50 |
25 years of Allowable Service as an Automotive Service Worker |
| DA Investigators 25 Year Plan (25IDA) |
No Age Requirement |
25 years of Credited Service |
| Deputy Sheriff 25 Year Plan (DSH-I) |
No Age Requirement |
25 years of Credited Service |
| Dispatchers 25 Year Plan (DIS-I) |
No Age Requirement |
25 years of Allowable Service |
| EMT 25 Year Plan (EMTI) |
No Age Requirement |
25 years of Allowable Service as an EMT Member |
| MTA Bridge and Tunnel Officers 50/20 (2050I) |
50 |
20 years of Allowable Service |
| Police Communication Operators 25 Year Plan |
No Age Requirement |
25 years of Credited Service |
| Sanitation Uniformed Force 20 Year Plan (SI-20) |
No Age Requirement |
20 years of Allowable Sanitation Service |
| Special Officers 25 Year Plan (SPO-I) |
No Age Requirement |
25 years of Allowable Service as a Special Officer Member |
| Tier 2 Correction Captains 20 Year Plan (CP-20) |
No Age Requirement |
20 years of Allowable Correction Service |
| Tier 2 Correction Officers 20 Year Plan (CI-20) |
No Age Requirement |
20 years of Allowable Correction Service |
AGE AND SERVICE REQUIREMENTS FOR RETIREMENT ELIGIBILITY IN TIER 3 PLANS
| Plan |
Age |
Years of Service |
| Normal Service Retirement (62/5) |
62 years |
5 years of Credited Service |
| Early Service Retirement (CO-25) |
No Age Requirement |
25 years of Credited Service |
| Correction Force 20 Year Plan (CF-20) |
No Age Requirement |
20 years of Allowable Service |
| Correction Officers 20 Year Plan (CO-20) |
No Age Requirement |
20 years of Allowable Service (or Credited Service if member before December 19, 1990) |
| Correction Captains 20 Year Plan (CC-20) |
No Age Requirement |
20 years of Allowable Service (or Credited Service if member before December 19, 1990) |
AGE AND SERVICE REQUIREMENTS FOR RETIREMENT ELIGIBILITY IN TIER 4 PLANS
| Plan Name |
Age |
Years of Service |
| Basic Tier 4 Plan (62/5) |
62 for full benefit, or as early as 55 with reduced benefit. |
5 years of Credited Service |
| Age 57 Retirement Plan (57/5) |
57 |
5 years of Credited Service |
| 25 Year Early Retirement Plan (55/25) |
55 |
25 years of Credited Service |
| Automotive Service Workers 50/25 Plan (AUT25) |
50 |
25 years of Credited Service as an Automotive Service Worker |
| Deputy Sheriff 25 Year Plan (DSH25) |
No Age Requirement |
25 years of Credited Service |
| Dispatchers 25 Year Plan (DIS25) |
No Age Requirement |
25 years of Allowable Service as a Dispatcher |
| EMT 25 Year Plan (EMT-25) |
No Age Requirement |
25 years of Allowable Service as an EMT |
| MTA Bridge and Tunnel Officers 50/20 (TBTA 50/20) |
50 |
20 years of Credited Service |
| Police Communication Operators 25 Year Plan |
No Age Requirement |
25 years of Credited Service |
| Sanitation Uniformed Force 20 Year Plan (SA20) |
No Age Requirement |
20 years of Allowable Sanitation Service |
| Special Officers 25 Year Plan |
No Age Requirement |
25 years of Allowable Service as a Special Officer |
| Transit Authority Operating Force 25/55 Plan (TA25/55) |
55 |
25 years of Allowable Transit Authority Service |
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