Retirement Options

Form 563

Retirement Option Election Form – Tier 4 and Tier 6 – Five-Year and Ten-Year Certain
Form #563

This Retirement Option Election Form allows you to elect an option that provides a continuing benefit to your designated beneficiary after your death. By electing this option, you will receive a reduced retirement benefit. If you die within five (or ten) years from the date of retirement, the reduced monthly benefit will continue to be paid to the designated primary beneficiary for the unexpired balance of the five- (or ten-) year period.

Form 554

Retirement Option Election Form – Tier 2, Tier 3, and 22-Year Plan – Five-Year and Ten-Year Certain
Form #554

This Retirement Option Election Form allows you to elect the Five-Year Certain or Ten-Year Certain Option. By electing this option, you will receive a reduced retirement benefit. If you die within five (or ten) years from the date of retirement, the reduced monthly benefit will continue to be paid to the designated primary beneficiary for the unexpired balance of the five- (or ten-) year period. 

Form 552

Retirement Option Election Form – Tier 1 and Tier 2 – Maximum, Option 2, Option 3, Option 4-2, Option 4-3
Form #552

This Retirement Option Election Form allows you to elect either the Maximum Retirement Allowance or an option that provides a continuing benefit to your designated beneficiary after your death. By electing a retirement option, you will receive a reduced retirement benefit. Be sure you understand each option, and elect the one that best fulfills your needs.

Form 559

Retirement Option Election Form – Tier 2 – Option 4
Form #559

This Retirement Option Election Form is for Tier 2 members who wish to provide continuing income to their designated beneficiary upon their death. Option 4 provides for a reduced lifetime monthly retirement allowance. Upon your death, a percentage of the reduced monthly allowance or a specific dollar amount will continue to be paid to your designated beneficiary.

Form 558

Retirement Option Election Form – Tier 2 – Option 4-4
Form #558

This application is for Tier 2 members who wish to provide continuing income to their designated beneficiary upon their death. Option 4-4 provides for a reduced lifetime monthly retirement allowance. Upon your death, a percentage of the reduced monthly allowance or a specific dollar amount will continue to be paid to your designated beneficiary. If the designated beneficiary predeceases you, your retirement allowance automatically reverts to the Maximum Retirement Allowance.

Form 557

Retirement Option Election Form – Tier 1 – Option 4
Form #557

Option 4 for Tier 1 members provides for a reduced lifetime monthly retirement allowance. Upon your death, a percentage of the reduced monthly allowance or a specific dollar amount will continue to be paid to your designated beneficiary. If you should die after the effective date of your retirement but before you receive your first full retirement payment, a benefit under Option 1 will be paid to your beneficiary. If you prefer that your beneficiary receive payment under Option 4 instead, you must initial the box on the form.

Form 550

Retirement Option Election Form – Tier 1 – Option 4-4
Form #550

This Retirement Option Election Form is for Tier 1 members who wish to provide continuing income to their designated beneficiary upon their death. Option 4-4 provides for a reduced lifetime monthly retirement allowance. Upon your death, a percentage of the reduced monthly allowance or a specific dollar amount will continue to be paid to your designated beneficiary.

Form 561

Retirement Option Election Form – Tier 1 – Option 4 (Five-Year Certain; Ten-Year Certain)
Form #561

This Retirement Option Election Form is for Tier 1 members who wish to elect the Five-Year Certain or Ten-Year Certain Option. By electing this option, you will receive a reduced retirement benefit. If you die within five (or ten) years from the date of retirement, the reduced monthly benefit will continue to be paid to the designated primary beneficiary for the unexpired balance of the five- (or ten-) year period.

Brochure 926

Retirement Options – Tier 4 and Tier 6 Basic and Special Plan
Brochure #926

This brochure describes the retirement options for Tier 4 and Tier 6 Basic and Special Plan members. By selecting an option, you accept a reduced lifetime retirement allowance in exchange for the payment of a benefit to your designated beneficiary upon your death. If you do not select an option, you will be awarded the Maximum Retirement Allowance. Be sure you understand each option before you submit your retirement forms.

Brochure 924

Retirement Options – Tier 2
Brochure #924

This brochure describes the retirement options for Tier 2 members (members who joined NYCERS after June 30, 1973 but prior to July 27, 1976 and Investigators employed in District Attorney offices who joined NYCERS between July 1, 1973 and March 31, 2012.

Form 562

Temporary Retirement Option Election Form – Tier 2, 3, 4 and 6
Form #562

This form is for members in Tier 2, 3, 4 and 6 who have filed an application for Service or Disability Retirement or Payment of a Vested Retirement Benefit, or whose agency has filed a Disability Retirement Application on their behalf. This form allows you to elect one of two temporary options before you elect a permanent option and thereby make a final decision regarding the way in which your retirement benefit will be paid. NYCERS recommends that you choose a temporary option as soon as possible.