Tier 1 and Tier 2: To qualify to take out a loan, you must:

• Complete three years of NYCERS membership
• Be in active payroll status (unless you are on an approved leave of absence)
• Not be retired

Tier 3, Tier 4, and Tier 6: To qualify to take out a loan, you must:

• Complete one year of NYCERS membership
• Have a minimum of $1,334 in your NYCERS retirement account
• Be in active payroll status
• Not be in default on a previous loan from NYCERS
• Not be retired

Note: 22-Year Plan members (Tier 3) cannot borrow against their contributions.

If you are a registered member of our website, the Loan Information page in your MyNYCERS account will tell you if you qualify to take out a loan.