Search Results

Most members will receive a service retirement benefit upon completion of their public service careers. Contact Us 800-348-7298 [email protected] The following is a summary of rules for a service retirement benefit, which can vary based on your tier, age, earnings and service credit. Eligibility Tier 1 members may retire at any age with 35 years of service, or at age 55 with five or more years of service. Retirement may also occur at age 55 with less than five years of NYS service, if two y...

The following is a summary of 2021 NYSTRS-related legislation that has been signed into law.Increase to the Minimum Retirement AllowanceChapter 541 of the Laws of 2021 (S6569/A6662)Signed into law October 29, 2021Effective Date: June 30, 2021This bill amends Education Law Section 532(e) to extend the minimum retirement benefit to members who retired prior to July 1, 1980 and increases said allowance to $550 per year of service up to a 35-year maximum of $19,250. Prior to Chapter 541, this ben...

Refer to our Retired Member FAQs for answers to many common questions. Contact Us 800-348-7298 [email protected] Beneficiaries How do I change my beneficiary? Being able to change beneficiaries depends on the type of benefit payment you selected at retirement and whether you are eligible for a Post-Retirement Paragraph 2 Death Benefit. To check what beneficiaries you have on file, visit your MyNYSTRS account or review your Retired Member Profile. Retirement Benefit Beneficiary: If you selec...

Get answers to common planning questions. Contact Us 800-348-7298, ext. 6250 [email protected] Benefit Calculations How is my pension calculated? Your pension is based on your years of service credit, final average salary (FAS), age and membership tier. See the Benefits chapter of our Active Members’ Handbook for details and examples. Use the MyNYSTRS Pension Estimator to calculate estimates under various scenarios. We also urge you to schedule a consultation with a NYSTRS representative to...

Accelerated Death Benefit is a payment that members may receive if they qualify for a disability retirement benefit and have either a) a terminal illness resulting in a life expectancy of no more than 12 months or b) a medical condition requiring extraordinary care or treatment. This benefit equals the death benefit that would have been paid if a member died on the last day of reportable service. It would be paid in lieu of both a monthly retirement benefit and a death benefit paid to a benef...