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The service credit you accumulate as a NYSTRS member pays dividends
throughout your career. As you achieve certain service
milestones, you become eligible for additional benefits. For
example:
1 Year of Credit
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You will be covered by an in-service
death benefit.
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If you are a Tier 3 or 4 member who dies as the result of
an accident sustained while teaching, an accidental
death benefit may be payable to your beneficiary instead
of the in-service death benefit.
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If you are a Tier 3 or 4 member and the balance of your member
contributions and interest is at least $1,334, you can take
a loan from your funds. If you are a Tier 1 or 2 member,
you must have a minimum of $400 in your Annuity Savings Fund
to be eligible for a loan. (For more information about
loans, see our publication Borrowing
from Your NYSTRS Contributions.)
2 Years of Credit
- You will be eligible to purchase credit for prior service.
(For more information, see our publication
You Deserve the Credit.)
5 Years of Credit
10 Years of Credit
- If you are a Tier 3 or 4 member, you will stop making 3% required
contributions when you attain 10 years of credit or membership, whichever occurs first.
- You may be eligible for a disability
retirement benefit if you cannot continue to work because
of an illness or injury.
- If you leave teaching with at least 10 years of service credit
and die before retirement, you will be covered by a vested
death benefit of half the in-service death benefit that would
have been paid on the last day of working.
20 Years of Credit
- If you are a Tier 1 or 2 member, the pension factor used in
your benefit calculation will no longer include a service-related
reduction.
- If you are a Tier 3 or 4 member, the pension factor used in
your benefit calculation will increase from 1 2/3% per year to
2% per year.
30 Years of Credit
- If you are a Tier 2, 3 or 4 member, you can retire without an age-related reduction to your pension factor when you attain 30 years of credit or reach age 62.
- If you retire under Tier 4, you will receive an additional
1 1/2% per year toward your pension factor for each year of credit
beyond 30 years.
35 Years of Credit
- If you are a Tier 1 member, you can retire at any age.
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