Vesting
Vesting
Vested members can leave City service while retaining the right to a future retirement benefit.
You become a vested NYCERS member after accumulating at least five years of credited or allowable service (10 years if you were terminated before 7/17/1993). The type of service required to vest depends on the requirements of your retirement plan. Your vested retirement benefit becomes payable once you reach the age specified by your retirement plan.
To learn about the age requirements for payment of a vested retirement benefit, refer to the vesting section of your Tier’s Plan Description, or, if you are in a Special Plan, refer to your Plan Brochure – Tier 3 | Tier 4 | Tier 6.
If you are leaving city service with more than five years of Credited/Allowable Service:
- File a Notice of Intent to File for a Vested Benefit Form (available below).
- If you haven’t already, register for MyNYCERS so you can easily update your contact and beneficiary information online and access your Vested Member Annual Disclosure Statement.
- When you meet the age requirement for your Tier and Plan, complete an Application for Payment of a Vested Retirement Benefit (available below).
Members with less than 10 years of service can choose to terminate their NYCERS membership and give up any future benefits from NYCERS by applying for a Refund of their accumulated salary deductions.
Notice of Intention to File an Application for a Vested Retirement Benefit – Tier 1 and Tier 2
Form #251
For Tier 1 and Tier 2 members who wish to vest their retirement benefit. Vesting refers to your right to receive plan benefits even if you terminate employment before you are eligible for payment of a Service Retirement Benefit.
Notice of Intention to File for a Tier 3, Tier 4, Tier 6 or 22-Year Plan Vested Retirement Benefit
Form #254
For Tier 3, Tier 4, Tier 6 and 22-Year Plan members who wish to vest their retirement benefit. Vesting refers to your right to receive plan benefits even if you terminate employment before you are eligible for payment of a Service Retirement Benefit.
Waiver of Right to a Vested Retirement Benefit
Form #341
For members who have at least five but less than ten years of Credited Service and wish to terminate their membership by withdrawing their accumulated member contributions. Note: By filing this form and withdrawing your contributions, you will waive your right to a Vested Retirement Benefit.
Application for Payment – Tier 3, Tier 4, Tier 6 or 22-Year Plan Vested Retirement Benefit
Form #266
For Tier 3, Tier 4, Tier 6 and 22-Year Plan vested members who have reached retirement age and wish to receive payment of their Vested Retirement Benefit.
Application for Payment of a Vested Retirement Benefit – Tier 4 with Tier 3 Rights
Form #265
For Tier 4 members with Tier 3 rights who wish to receive payment of their Vested Retirement Benefit.
Affidavit for Payment of a Vested Benefit under Early Service Retirement Provisions – Tier 3 and Tier 4 Members with Tier 3 Rights
Form #283
For Tier 3 and Tier 4 members with Tier 3 rights who wish to receive payment for their Vested Retirement Benefit under the Early Service Retirement provisions.
Application for Payment of a Vested Retirement Benefit – Tier 1 and Tier 2 (Except Corrections and Sanitation)
Form #261
For Tier 1 and Tier 2 members (except Corrections and Sanitation) who wish to receive payment of their Vested Retirement Benefit.
Application for Payment of a Reduced Vested Retirement Benefit
Form #255
For Tier 2 members in Plan D who wish to have their Vested Retirement Benefit paid in the form of an Early Service Retirement Benefit.
Application for Deferred Vested Retirement Allowance – Tier 1 and Tier 2 Uniformed Sanitation Force Members Who Discontinue Service Other Than by Death, Retirement or Dismissal
Form #269
For Tier 1 and Tier 2 Uniformed Sanitation Force members who wish to file for a Deferred Vested Retirement. This form must be filed with NYCERS at least 30 days prior to discontinuance from City service. This form serves as both your notice of intent to vest, as well as for payment of a future Vested Retirement Benefit.
Application for Deferred Vested Retirement Allowance – Tier 1 and Tier 2 Uniformed Correction Force Members Who Discontinue Service Other Than by Death, Retirement or Dismissal
Form #263
For Tier 1 and Tier 2 Uniformed Correction Force members who wish to file for a Deferred Vested Retirement. This form must be filed with NYCERS at least 30 days prior to discontinuance from City service. This form serves as both your notice of intent to vest, as well as for payment of a future Vested Retirement Benefit.
Leaving Active City Service – Tiers 3, 4, 6 and 22-Year Plans
Brochure #909
Learn about the rights and options available to you after leaving City service. Many options are time-sensitive; we encourage you to read this brochure prior to leaving City service.
Vesting – Tier 3 and Tier 4
Brochure #904
Vesting is your right to receive a retirement benefit in the future if you have met the requirements of your plan even if you leave City service before you are eligible to retire.
Vesting – Tier 1 and Tier 2
Brochure #903
This brochure provides detailed information about Vesting and Vested Retirement Benefit. Vesting is your right to receive a retirement benefit in the future if you have met the requirements of your plan even if you leave City service before you are eligible to retire.