Important Pension Information – New Tier VI in effect April 1, 2012
As you may already be aware, effective April 1, 2012, the State of New York has instituted a new tier, Tier VI, in the pension systems for public employees, which significantly changes the terms of retirement. For a summary of some of these changes, please refer to Governor Cuomo’s press release at the following link: http://www.governor.ny.gov/press/03152012pensionagreement.
CUNY employees who have already enrolled in a pension system are not affected by this new legislation and will continue in their present tier.
Employees who are not currently enrolled in a pension system, including part-time employees who have the option to join a pension system, may still enroll in a pension system before the new Tier VI goes into effect, provided that the requisite forms are received by the pension system before April 1, 2012. The pension systems will enroll employees in the new Tier VI if the requisite forms are received by the pension system on or after April 1, 2012.
Please be advised that the NYCERS Customer Center and the TRS Walk-In Center will be open on Saturday, March 31st, 2012 to accept enrollment applications from 8:00 a.m. to 5:00 p.m. and from 9:00 a.m. to 5:00 p.m., respectively.
Below please find their respective address:
NYCERS -Customer Center is located at 340 Jay Street in downtown Brooklyn. For additional information, please visit their website: https://www.nycers.org/(S(h2rnsiyzninzolqb14lrxs55))/Index.aspx
TRS-In Center is located at 55 Water Street. For additional information, please visit their website at https://www.trsnyc.org/trsweb/news/news.html#Tier
If you have any questions, please contact Human Resources at (212)650-7226 or your pension system.