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New York State and Local Retirement System

Member Contributions

Tier 1 & 2 ERS

If you are covered by a non-contributory retirement plan and have made voluntary contributions under Section 21(l) or 321(l), you may apply for a refund of those excess contributions. You may have one refund of these excess contributions in a 12-month period.

You may also have excess contributions if you transfer membership from another New York State or New York City public retirement system into our retirement system. You should contact us at the time of transfer to find out the status of your contributions.

To apply for a refund of excess contributions, complete an Application for Refund of Excess Contributions (RS5195) Adobe pdf.

Contributions on deposit for service prior to April 1, 1960, or money on deposit because you are covered by a contributory retirement plan cannot be refunded as excess.

Tier 3 & 4 ERS

You must contribute 3 percent of your gross earnings toward your retirement benefits until you have been a member of the Retirement System for ten years, or have ten years of credited service, whichever occurs first.

Tier 3 PFRS — Article 11

If you are covered by a non-contributory retirement plan and have made voluntary contributions under Section 21(l) or 321(l), you may apply for a refund of those excess contributions. You may have one refund of these excess contributions in a 12-month period.

You may also have excess contributions if you transfer membership from another New York State or New York City public retirement system into our retirement system. You should contact us at the time of transfer to find out the status of your contributions.

To apply for a refund of excess contributions, complete an Application for Refund of Excess Contributions (RS5195) Adobe pdf.

Contributions on deposit because you are covered by a contributory retirement plan cannot be refunded as excess.

Tier 3 PFRS — Article 14

Members must contribute 3 percent of their salary for 25 years or until retirement, whichever occurs first.

Tier 5 ERS

Members must contribute 3 percent of their salary for all their years of public service.

Exceptions:

  • State Correction Officers whose contributions would be limited to 30 years of service.
  • Uniformed Court Officers and Peace Officers employed by the Unified Court System who must contribute 4 percent of their salary for all their years of public service.

Tier 5 PFRS

Members must contribute 3 percent of their salary for all their years of public service.

Exceptions:

  • Members enrolled in retirement plans limiting the amount of creditable service they may accrue will not be required to contribute once they reach the maximum amount of service allowed by their plan.
  • If a union-negotiated collective bargaining agreement is in effect on January 9, 2010 and requires an employer to offer a 20- or 25-year plan, any new employees who join while that agreement is in place will not have to contribute.

Interest on Contributions

Tier 3, 4 and 5 ERS and Tier 3 Article 14 PFRS member contributions earn 5 percent annual interest. All Tier 1 and 2, Tier 3 Article 11 PFRS and Tier 5 PFRS member contributions may also earn 5 percent interest, 3 percent guaranteed, plus up to an additional 2 percent based on the Retirement System’s earnings. The interest rate on these contributions has been 5 percent since 1976.

Please see your member booklet for complete information on contributions to your plan.

(Rev. 4/10)

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