A warm welcome to new ERS members

f you joined the New York State and Local Employees’ Retirement System on or after April 1, 2012, you are likely a member of Tier 6, our largest tier. Your tier determines things such as how much you will contribute each pay period, your retirement and death benefit eligibility, and the formula used to calculate your pension.

A good place to learn about your membership and benefits is our New Members webpage at osc.state.ny.us/retirement/members/new-members. It provides links to a variety of resources and important information.

First, we encourage you to sign up for Retirement Online, your self-service account with ERS. It’s the most convenient way to review your benefit information and manage your account. Be sure to keep your contact information current. You should also check to make sure you have beneficiaries listed and that their contact information is up to date.

An ERS pension is a defined benefit plan so, at retirement, you will receive a monthly pension for the rest of your life. You can apply for retirement as early as age 55 if you have at least five full years of service. For Tier 6 members, the full retirement age is 63. On the New Members webpage, read the ERS Membership Overview or Membership Milestones for ERS Tier 6 for more information. A key component in the calculation of your benefits is your service credit. You may be able to receive additional service credit for public employment before you became an ERS member or for military service. Click “Getting credit for all of your public service” to learn more.

Your retirement plan publication provides comprehensive information about your benefits that you should refer to throughout your career. Be sure to click the “Find Your Retirement Plan” button and follow the steps listed on the page to find your specific plan publication. Bookmark the link to make sure you have the most current information available.

Our New Members webpage is also a good resource for retirement planning, including ways to save for retirement and the importance of starting early. Welcome to ERS!