Monthly Archives: October 2021

Countdown to Retirement – 4-6 Months to Go

The countdown to retirement continues. Here are a couple of things you should do four-to-six months before your retirement date to make sure you stay on track.

Countdown to Retirement - 4-6 months to go

Locate Proof of Your Birth Date

Before NYSLRS can pay out any retirement benefits, we will need proof of your date of birth.

For most people, locating that proof is no big deal — a photocopy of your driver’s license will do. But if you don’t have proof of your birth date readily available, this is a good time to look for it or arrange to get a replacement. This is especially important if you need to write to an out-of-state registry or a foreign country for the necessary document.

If you intend to leave a lifetime pension benefit to a beneficiary after your death, we will need proof of their birth date as well.

In most cases, we will accept a photocopy of your proof of date of birth, and you can submit it when you apply for retirement online or by mail. If you mail us the original, we will return it to you.

Acceptable documents for proving your date of birth include your:

The National Center for Health Statistics’ website contains information for each state on where to write for your vital records.

Review Your Retirement Budget

In our Countdown to Retirement – 12 Months to Go blog post, we recommended that you calculate your retirement income and expenses. But circumstances can change in six months, so now is a good time to review your post-retirement budget and make any necessary adjustments. At this point, you may have a clearer picture of your retirement income or you may be aware of expenses that you didn’t consider earlier. A budget review will help ensure that you are still on track to retire on your terms.

If you missed it, be sure to read the first post in our series, Countdown to Retirement –  18 Months to Go. You’ll also want to keep an eye out for the final installment of this series.

The Police and Fire Retirement System

NYSLRS is actually two retirement systems: the Employees’ Retirement System (ERS) and the Police and Fire Retirement System (PFRS).

PFRS, which provides retirement benefits for police officers and paid firefighters, is the smaller of the two systems, with about 32,000 active members. A third of PFRS members work for cities, while almost 19 percent work for New York State. The remainder work for towns, counties and villages.

There are five tiers in PFRS, reflecting when the members joined the system: Tiers 1, 2, 3, 5 and 6 (there is no Tier 4 in PFRS). Tier 2, which includes PFRS members who joined the Retirement System from July 31, 1973 through June 30, 2009, is the largest tier, accounting for almost 55 percent of PFRS membership.

If you joined PFRS on or after April 1, 2012, you are in Tier 6.

Ninety-eight percent of PFRS members are in special retirement plans that allow for retirement after 20 or 25 years of creditable service. If you are in one of these plans, once you have the full amount of required service, you can retire at any age.

Some PFRS members are in regular retirement plans, which require a member to reach a certain age before they are eligible for a pension.

police and fire infographic

As a PFRS member, you’ll pass a series of important milestones throughout your career. Knowing and understanding these milestones will help you better plan for your financial future.

Service Credit

Service credit is a key in determining your eligibility for a pension and other benefits, including the amount of those benefits.

Under most 20- and 25-year plans, not all public employment is creditable. Usually, police and firefighting service can be counted as special-plan service. You may also be able to use military service to help you reach 20 or 25 years. If you have questions about the service that can be used to calculate your pension, please check your retirement plan booklet or contact us.

PFRS Plan Booklets

You can find details about your NYSLRS benefits in your retirement plan booklet.

For the majority of PFRS members, that’s the Special 20- and 25-Year Plans booklet. This booklet is for PFRS Tier 2, 3, 5 and 6 members covered by Sections 384, 384-d and 384-e of the State Retirement and Social Security Law.

If you are a PFRS member who works for New York State, your booklet is based on your specific job. There are separate booklets for State PoliceForest RangersRegional State Park PoliceState University Police and EnCon Police.

If you are not covered by one of the plan booklets listed above, you can find your booklet on our Publications page. If you’re not sure what retirement plan you’re in, you can find that information in the My Account Summary section of your Retirement Online account. You can also check your Member Annual Statement, ask your employer or email us using our secure contact form.