ERS/TRS (Tier 6)
Effective for all employees joining a NYS public retirement system on or after April 1, 2012. Vesting requires 5 years of service credit. The employee contribution rate is based upon regular compensation.
Effective October 1, 2026, employee contribution rates are as follows:
- Wages of $75,000 or less = 3%
- Wages of $75,000.01 to $100,000 = 4%
- Wages of $100,000.01 to $125,000 = 5.25%
- Wages of $125,000.01 and over = 5.75%
Retirement age is 63 in order to retire with an unreduced benefit; members retiring between age 55 and age 63 are subject to a reduction of 6.5% for each year retirement precedes age 63. NYSUT-affiliated bargaining units may petition the governor for an unreduced benefit at age 57 with 30 or more years of service, with any additional actuarial costs to be borne by eligible employees.
5-year final average salary (FAS) calculation using regular compensation for determining retirement benefits.
Excludes from the FAS calculation wages exceeding the average of the previous four years by more than 10%.
Pensionable overtime capped at $15,000 plus inflation.
Eliminates use of lump payments for unused vacation accruals in FAS calculations.
100 sick leave days eligible for service credit.
Pensionable salaries limited to regular compensation from only two employers during a given year.
Allowable in a FAS calculation capped at the NYS governor's salary.
6% contribution required to purchase military and prior service.
Pension multiplier for years of service as follows:
- Less than 20 years of service = 1.66% for each year of service
- 20 or more years of service (1st 20 years) = 1.75%
- Years exceeding 20 years = 2%
Enrollment Resources:
SUNY ORP (Tier 6)
Effective for all employees joining the SUNY ORP on or after April 1, 2012. Vesting period is 366 days or immediate for employees with vested employer-funded retirement contracts through approved vendors from previous employment. Employee contributions are required for the duration of employment. Employee contribution rates in a given calendar year are based upon earnings in the second calendar year preceding the current calendar year.
Effective October 1, 2026, employee contribution rates are as follows:
- Wages of $75,000 or less = 3%
- Wages of $75,000.01 to $100,000 = 4%
- Wages of $100,000.01 to $125,000 = 5.25%
- Wages of $125,000.01 and over = 5.75%
Employer contribution is 9% of compensable salary for the first 7 years of employment, and 11% thereafter.
Allowable contribution limits follow the definitions contained within §390 of Education Law, §131 of Retirement and Social Security Law, and §415 and §401(a)(17) IRS annual contribution limits; and will not be subject to the newly imposed caps and limitations applicable to Tier VI ERS/TRS members.
Enrollment Resources: