Today’s post looks at Tier 2 in the Police and Fire Retirement System (PFRS). A majority of PFRS members are in Tier 2, which began on July 31, 1973 and ended on June 30, 2009. Most Police and Fire Retirement System members are in “special” retirement plans that allow for retirement after 20 or 25 years, regardless of age, without penalty.
The special plans that cover municipal police officers and firefighters fall under Sections 384, 384(f), 384-d, and 384-e of Retirement and Social Security Law. As of March 31, 2014, there were 21,382 Tier 2 members in these plans; most of whom are covered by either Section 384-d (37.5 percent) or 384-e (61.8 percent).
Check out the graphic below for the basic retirement information for PFRS Tier 2 members.
*This graphic was updated on 2/19/15.
For more detailed information about your benefits, please review your retirement plan publication: Special 20- and 25-Year Plans for PFRS Tier 1, 2, 3, 5 and 6 Members (Sections 384, 384-d and 384-e) (VO1517).
Stay tuned for more NYSLRS – One Tier at a Time posts. Next time, we’ll take a look at another one of our ERS tiers.