Eligibility is determined by your age and number of years of creditable service. In some cases, you must have reached the Minimum Retirement Age (MRA) to receive retirement benefits. Use the following chart to figure your Minimum Retirement Age. Show
Immediate RetirementAn immediate retirement benefit is one that starts within 30 days from the date you stop working. If you meet one of the following sets of age and service requirements, you are entitled to an immediate retirement benefit: Eligibility Information
If you retire at the MRA with at least 10, but less than 30 years of service, your benefit will be reduced by 5 percent a year for each year you are under 62, unless you have 20 years of service and your benefit starts when you reach age 60 or later. Early RetirementThe early retirement benefit is available in certain involuntary separation cases and in cases of voluntary separations during a major reorganization or reduction in force. To be eligible, you must meet the following requirements: Eligibility Information
Deferred RetirementRefers to delayed payment of benefit until criteria are met, as follows: If you leave Federal service before you meet the age and service requirements for an immediate retirement benefit, you may be eligible for deferred retirement benefits. To be eligible, you must have completed at least 5 years of creditable civilian service. You may receive benefits when you reach one of the following ages:
If you retire at the MRA with at least 10, but less than 30 years of service, your benefit will be reduced by 5 percent a year for each year you are under 62, unless you have 20 years of service and your benefit starts when you reach age 60 or later. Disability RetirementDisability Federal Employees Retirement System (FERS) Annuity Requirements: Eligibility Information
Special RequirementsYou must have become disabled, while employed in a position subject to FERS, because of a disease or injury, for useful and efficient service in your current position. The disability must be expected to last at least one year. Your agency must certify that it is unable to accommodate your disabling medical condition in your present position and that it has considered you for any vacant position in the same agency at the same grade/pay level, within the same commuting area, for which you are qualified for reassignment. Back to Top
You are eligible to retire at any age after completing 20 years of creditable service. You may also receive a service retirement benefit at age 62, even if you do not have 20 years of creditable service. With 20
years of creditable service, you will receive a retirement benefit of 50 percent of your Final Average Salary (FAS). If you are age 62 with less than 20 years of service, your benefit is 2.5 percent of your FAS for each year of creditable service, plus an additional 1.66 percent for any other creditable service not covered by this plan. In either case, your total benefit cannot exceed 50 percent of your FAS. If you are at least 55 at retirement and an alternative regular
plan would provide a greater benefit, the greater benefit will be paid. Most
members can estimate their pension using the benefit calculator in Retirement Online. The calculator uses your salary and service credit information to create an estimate. You can fine-tune your estimate by entering different retirement dates, beneficiaries, earnings, and service credit amounts to see how they affect your potential benefit, and then save or print it. Sign in to your Retirement Online account, go to the ‘My Account Summary’ area of your Account Homepage and click the “Estimate my Pension Benefit” button. Members in certain circumstances (for example, members who have recently transferred a membership to NYSLRS) are not able to use the Retirement Online calculator at this time. These members should contact us to request an estimate. Your service retirement application must be on file with the Office of the State Comptroller at least 15 days, but not more than 90 days, before the date on which your retirement will occur. The 15-day filing requirement is waived if you are over age 70 at retirement. To apply for retirement, sign in to your Retirement Online account, go to the ‘My Account Summary’ area of your Account Homepage and click “Apply for Retirement.” You can also apply by mail by submitting the Application for Service Retirement (RS6037). Read the Receiving Your Benefits section for more information about filing. Can you retire after 20 years of work?You are eligible to retire at any age after completing 20 years of creditable service. You may also receive a service retirement benefit at age 62, even if you do not have 20 years of creditable service.
What happens if you don't work 35 years for Social Security?If you stop working before you have 35 years of earnings, or you have low earnings for some years, this will affect your benefit calculation. However, if you wait to start benefits after you reach full retirement age, your benefits will increase for each month you do not receive them until you reach age 70.
Can I retire after 25 years of service?You are eligible to retire at any age after completing 25 years of creditable service.
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How long do you have to work for retirement
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