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Human Resource Policy Manual
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Section: |
Benefits |
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Subject: |
NYS Retirement |
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Policy: |
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Code: |
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Issued: |
8/9/02 |
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Association Adoption: |
5/6/04 |
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Association Effective Date: |
6/10/04 |
Summary - The Association will make available the New York State Employees’ Retirement System pension plan to each eligible employee. An employee is eligible for service retirement benefits after five years of creditable public sector service. In the event an employee leaves after five years of service but prior to retirement age, such employee may receive a benefit at retirement age related to those years as a public sector employee.
Mandatory Membership - A full-time employee who began employment with the State of New York or with a participating employer, on or after July 27, 1976, must join the retirement system. Employment is considered full-time unless:
Optional Membership - An employee who is not mandated to join may join the retirement system. Such employee will be informed, in writing, that the employee may join the Retirement System and will acknowledge receipt of such notice by signing a copy thereof and returning it to the association designated benefits coordinator. If the employee elects to join the retirement System, the employee must complete the application form and return it to the local Plan Administrator.
Waiver of Enrollment - An employee who is not mandated to join the retirement system, and who chooses not to join, must complete a waiver of enrollment form.
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