The service credit you accumulate as a NYSTRS member pays dividends throughout your career. As you achieve certain service milestones, you become eligible for additional benefits.
1 Year of Credit
• You will be covered by an in-service death benefit.
• If you die as the result of an accident sustained while teaching, an
accidental death benefit would be payable instead of the in-service death benefit.
• You will be eligible to borrow from your required member contributions
when the balance is at least $1,334.
2 Years of Credit
• You will be eligible to purchase credit for prior service. For more information,
read our pamphlet You Deserve the Credit.
5 Years of Credit
• Your pension is vested, or guaranteed. You will be eligible for a retirement
benefit at age 55, even if you do no further teaching in New York State,
as long as you do not transfer or withdraw your membership.
10 Years of Credit
• You stop making 3% required contributions when you reach 10 years of
credit or membership.
• You may be eligible for a disability retirement benefit if you cannot
continue to work because of an illness or injury.
• If you leave teaching with at least 10 years of service credit and die
before retirement, you will be covered by a vested death benefit of one-half
the
in-service death benefit that would have been paid on the last day of working.
20 Years of Credit
• Tier 3 or 4 members: The pension factor used in your benefit calculation
will increase from 1 2/3 % per year to 2% per year.
30 Years of Credit
• Tier 2, 3 and 4 members: You can retire without an age-related reduction
to your pension factor when you attain 30 years of credit or reach age 62.
•
Members retiring under Tier 4: You will receive an additional 1 ½ %
per year toward your pension factor for each year of credit beyond 30 years.