When can NYS teachers retire?
How much is a NYS teacher pension?
For example, if you had a final average salary of $60,000 and worked for 20 years, your monthly pension would be $1,750. You become eligible for this pension payment when you are 55 years old and have at least 10 years of service. However, if you retire before the age of 63, you will retire with reduced benefits.
How much can you make on NYS retirement?
If you are under age 65, you can return to public employment without approval or reduction in your retirement benefit as long as your calendar year earnings are less than the Section 212 limit (the limit is $35,000 beginning in calendar year 2020).
Is there a retirement incentive for NYS employees?
--Pursuant to Legislative Law, Section 50: This bill would provide a temporary retirement incentive during fiscal year 2020-2021. This incentive would permit eligible members to retire without an early retirement reduction upon attainment of at least age 55 with 25 years of service.