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New Law:
Chapter 56 of the Laws of 2024 reduces the number of years used in the Final Average Salary (FAS) calculation for certain Tier 3 and Tier 6 members who retire on or after April 20, 2024.
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New Law:
Chapter 56 of the Laws of 2024, effective April 20, 2024, reduces the number of years used in the Final Average Salary (FAS) calculation for certain Tier 3 and Tier 6 members who retire on or after April 20, 2024. If the law applies to you, NYCERS will automatically update your FAS calculation in our system.
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Attention Tier 4 and Tier 6 TBTA 20/50 Plan members:
The TBTA has elected by resolution to provide the incentive that removes the age 50 requirement for a Service Retirement.
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Attention Tier 4 and Tier 6 TBTA 20/50 Plan members:
Section 1 of Chapter 693 of the Laws of 2023 removes the age requirement for TBTA 20/50 Plan Members. The TBTA has elected by resolution to provide the incentive. Please note:
- The age 50 eligibility requirement for a Service Retirement under this plan has been eliminated.
- Other plan provisions, including the Credited Service requirement, still apply.
- NYCERS will update the Plan documents to reflect this information. No action is required from you now.