After taking time to plan and learn about your NYSLRS retirement benefits, you’ve decided to retire. In the final months leading up to your retirement date, there are important things you need to do. Our Countdown to Retirement series will help you know what to do and when — beginning with 18 months out.
18 Months Out
You should request a NYSLRS retirement estimate 18 months before you plan to retire. Your estimate will provide your approximate pension payment amounts under different payment options, as well as information about your retirement benefits.
To get your NYSLRS retirement estimate, send us a completed Request for Estimate form (RS6030). On the form, make sure you include:
- Planned retirement date
- Name and birth date of your intended beneficiary
- Public employment history
Your public employment history dates don’t have to be exact, but NYSLRS will use this information to review your account to see whether you are eligible for any additional service
Your NYSLRS Retirement Estimate
When you receive your NYSLRS retirement estimate, you can expect to see your:
- Estimated final average salary
- Total years of service credit as of your planned retirement date,
- Total member contributions (if applicable), and
- Any outstanding loan balances or service credit purchase balances.
With your NYSLRS retirement estimate, you can see how an outstanding loan balance or additional service credit might affect your pension. This is information you need now; it shouldn’t be a surprise when you retire. You may receive your estimate and decide that you’re not ready to retire. That’s fine; you can request a new one later on.
The NYSLRS retirement estimate is based on the information we have on file for you, so it’s important to review it carefully. If your estimate isn’t what you expected, report any inconsistencies to us as soon as possible.
Your planned retirement date will be here before you know it. As it gets closer, check out the rest of our Countdown to Retirement series for steps to take 12 months, eight months, four to six months and one to three months before your retirement date.