62-5 SPD:62/5 SPD.qxd - NYCERS

MEMBERSHIP AND ELIGIBILITYTier 4 members are those who joined NYCERS between July 27, 1976 and March 31, 2012,except for:Members of the uniformed force of the NYC Department of Correction, andInvestigators employed in a District Attorney's OfficeLR: Chapter 414 of the Laws of 1983SR: RSSL §600NEW YORK CITY EMPLOYEES’ RETIREMENT SYSTEMThe Tier 4 - 62/5 retirement plan, commonly referred to as the Basic Tier 4 Plan, allows participantsto retire at age 62 with at least five years of Credited Service.Membership in this plan is for employees of the City of New York or a Participating Employer inNYCERS who joined NYCERS after July 26, 1976 but prior to June 29, 1995 and did not elect toparticipate in the 55/25 Early Retirement Program created by Chapter 96 of the Laws of 1995.Employees of the Triborough Bridge and Tunnel Authority (MTA Bridges and Tunnels) in the titleof Bridge and Tunnel Maintainer, Assistant Bridge and Tunnel Maintainer, Senior Bridge and TunnelMaintainer and Laborer are members of the 62/5 plan if they join NYCERS at any time afterJuly 26, 1976.Members who are mandated into the 57/5 retirement plan (established by Chapter 96 of theLaws of 1995) may also be eligible for membership in the 62/5 plan. This can occur if suchmembers transferred a prior membership from another retirement system in New York State,where such membership was prior to June 29, 1995. Once the transferred membership isprocessed, such members will have the opportunity to elect to remain members of the 57/5 planor continue as 62/5 plan participants.Employees in certain "special occupational" titles may be participants of a special plan availableto their specific title and, therefore, may not be participants in the 62/5 plan. However, such employeesmay retain the right to retire under the 62/5 plan under certain scenarios. Such employeesare encouraged to contact NYCERS to learn more about retiring under the special planor the 62/5 plan.MEMBERSHIP AND ELIGIBILITYMANDATORY MEMBERSHIP VS. VOLUNTARY MEMBERSHIPMembership in NYCERS is mandatory for all employees who are appointed and have completedsix months in a permanent position in the competitive or labor class. Permanent employees mayvoluntarily join NYCERS during the first six months of employment. If they do not voluntarilyjoin, membership will automatically be established after six months have lapsed.Non-permanent employees are free to join NYCERS; they will not be forced in after six months.As long as such employees are on the payroll of their employer and file a membership applicationwith NYCERS, membership can be established.LR: Chapter 414 of the Laws of 1983; Chapter 929 of the Laws of 1937, as amended byChapter 426 of the Laws of 1941SR: RSSL §600 subdivision b; NYC Administrative Code §13-104, subdivision 12