All employees who are classified as "probable permanent" i.e. appointees from a civil service list, who serve a probationary period before attaining a permanency status must join NYCERS within six months. For all other appointments, membership into NYCERS is optional.
Tier 1 participants can vest* if the following requirements are met:
Tier 2 participants can vest if the following requirements are met:
Tier 3 and Tier 4 participants can vest if they meet the following requirements:
**If you have separated from city service as a vested member you will not be covered by City paid health insurance until you begin receiving your pension checks.
Tier 1 and Tier 2 members may borrow up to 75% of the accumulated deductions provided three or more years of service is completed. The following restrictions apply to all Tier 1 loans:
Tier 3 and Tier 4 members who have credit for at least one year of Member Service, may borrow an amount not to exceed 75% of the amount last posted to his or her Members' Contribution Accumulation Fund (MCAF)* account (minus outstanding loan). The following restrictions apply to all loans:
Vesting - Refers to the right to receive pension benefits even if terminate/resign before member is eligible for payment of a service retirement.
Members Contribution Accumulation Fund (MCAF) - An account maintained for each Tier 4 member into which the "basic" contributions of 3% of Wages each payroll period are deposited, plus interest earned on such contributions.
NYCERS Mailing Address:335 Adams Street, Suite 2300Brooklyn, New York 11201-3751
NYCERS main telephone number 1-347- 643-3000
NYCERS Walk-in Service at:Customer Service Center340 Jay StreetMezzanine Level at Renaissance PlazaBrooklyn, New York