As we wrap up another year, let’s take a look back at the most popular New York Retirement News posts of 2017.
- NYSLRS – One Tier at a Time: ERS Tiers 3 & 4
When you join the New York State and Local Retirement System (NYSLRS), you’re assigned a tier based on the date of your membership. Members of Employees’ Retirement System (ERS) Tiers 3 and 4 represent nearly two-thirds of our membership, and their retirement plans are similar. Many are nearing retirement. This blog, part of a series, is an overview of ERS Tier 3 and 4 retirement benefits.
- Tier 3 & 4 Members: When Is The Right Time To Retire?
If you’re in ERS Tier 3 or 4, you can retire as early as age 55. But working a few more years could have a big impact on the amount of your pension. Here are some factors to consider before you opt for an early retirement.
- $15 Billion in Lost Money. Could Some Of It Be Yours? Find Out.
Is it possible you left money in an old bank account? Maybe you lost track of a security deposit, insurance payout, stock dividend or mutual fund? Could there be a distant relative who left bonds in your name?
- Taxes and Your NYSLRS Retirement Benefit
Your NYSLRS retirement benefit isn’t subject to New York State or local income taxes, but it is subject to federal income tax. Before you retire, take some time to think about how taxes could affect your retirement planning.
- How Much Will My Pension Be?
For anyone thinking about retirement, one big question looms: How much money will I have to live on after I stop working? Your NYSLRS pension is a lifetime benefit. Having a good idea of what that monthly amount will be is essential to effective retirement planning. Fortunately, we offer tools to help you estimate your future pension.