Note for Tier III Members Considering Retirement
If you are a Tier III member, you may elect to file for retirement under either Tier III or Tier IV. Before filing a retirement application, you should note the differences between the tier plans and carefully consider this irrevocable choice. The main difference between Tier III and Tier IV benefits is that, under Tier III, your retirement allowance would be reduced by 50% of the Social Security benefit you accrued in public employment within New York State. This reduction would take effect when your retirement allowance payments begin or when you reach age 62, whichever is later. This reduction does not apply to Tier IV benefits.
To elect to receive benefits under Tier IV, please file the Tier IV Service Retirement Application (code RE19) instead of the Tier III Service Retirement Application (code RE18). If you would like to file a Tier III Service Retirement Application , please contact our Member Services Center at 1 (888) 8-NYC-TRS.