OUR TIER 6 VICTORIES
Vesting Reduced: 10 to 5 Years
As of April 9, 2022, Tier 5 and 6 members also only need five years of service credit to be vested. This newly enacted vesting requirement change affects members of both the Employees’ Retirement System (ERS) and the Police and Fire Retirement System (PFRS). Previously, Tier 5 and 6 members needed 10 years of service to be eligible for a service retirement benefit.
Pension Values Increased
Our union is celebrated the inclusion of reforms to the Tier 6 pension plan in the FY 2025 State Budget. Your pension is now based on your top three earning years, not five. The budget included several wins for CSEA members, most notably the reforms to Tier 6 that pose another major step in pension reform.
Stopped Inflated Overtime contributions
An April 2024 State law excluded overtime pay earned from April 1, 2022 through March 31, 2024 from the calculation of Tier 6 member contribution rates. NYSLRS reviewed earnings breakdowns provided by employers and lowered affected Tier 6 members contribution rates for State Fiscal Year 2024-25 (April 1, 2024–March 31, 2025) and State Fiscal Year 2025-26 (April 1, 2025–March 31, 2026)
