What is the retirement age for Tier 5 in NY?: Your Guide to Eligibility and Benefits

Oct 23, 2025 2 min read •

Retirement Planning Pensions New York State

According to the New York State Comptroller's office, Tier 5 members of the Employees' Retirement System (ERS) can collect their full retirement benefit at age 62. This article will delve into all the details regarding what is the retirement age for Tier 5 in NY, covering the rules for various public employees, including the option to retire early with a reduced benefit.

Quick Summary

Tier 5 members of New York's public pension systems, like ERS and NYSTRS, can retire with a full, unreduced benefit at age 62. Early retirement is possible starting at age 55, but it comes with a permanent benefit reduction unless specific service credit conditions are met.

Key Points

Full Retirement at Age 62: For most Tier 5 members in New York's public pension systems, the full retirement age to receive an unreduced pension is 62.
Early Retirement at Age 55: Early retirement is possible starting at age 55 with at least five years of service credit, but it comes with a significant and permanent reduction in benefits.
Benefit Reduction Varies: The size of the reduction for early retirement depends on your age and years of service, with the penalty decreasing the closer you are to age 62.
Exception for Special Plans: Certain professions, like uniformed court officers, may have special plans allowing for retirement at age 55 with 30 years of service without a benefit reduction.
Check Your Retirement System: Specific eligibility and benefit rules can differ between systems like the ERS and NYSTRS; members should consult their respective system's publications.
Consider Your Financial Situation: The steep reduction associated with early retirement requires careful financial planning to determine if forgoing a portion of your pension is a viable option.
Vesting Requirement: Tier 5 members need to be vested to be entitled to a retirement benefit; for ERS members this happens after 10 years of credited service.

Understanding the Full and Early Retirement Age for Tier 5 in NY

For most public employees in New York who are Tier 5 members, the full retirement age is 62. Tier 5 generally includes employees who joined NYSLRS between January 1, 2010, and March 31, 2012. The rules can differ between the New York State and Local Employees' Retirement System (ERS), the New York State Teachers' Retirement System (NYSTRS), and special plans.

Full Retirement with Unreduced Benefits

Most Tier 5 members in systems like ERS can receive an unreduced pension at age 62. This is the age to maximize your pension. For NYSTRS members, unreduced benefits are also available at age 62.

Eligibility for a service retirement benefit typically requires at least five years of credited service. Vesting requirements and specific service credit milestones can vary.

Early Retirement with Reduced Benefits

Tier 5 members can retire as early as age 55 with typically five years of credited service. However, retiring before age 62 results in a permanent reduction, with the amount depending on your age and service credit. For general ERS members, retiring at age 55 can lead to a reduction of approximately 38.33%.

Special Rules for Tier 5 Members

Some Tier 5 members, particularly those in special 20- or 25-year plans, have different rules. Uniformed court officers and peace officers in the Unified Court System may retire at age 55 with 30+ years of service without a reduction. Additional details regarding eligibility, benefits, and filing can be found on the {Link: New York State Comptroller website https://www.osc.ny.gov/retirement/publications/1515/eligibility-benefit-and-filing}.

Comparison of Tier 5 ERS and NYSTRS Requirements


Feature	Tier 5 ERS (General Members)	Tier 5 NYSTRS (Teachers)
Full Retirement Age	62	62
Early Retirement Age	As early as 55	As early as 55
Minimum Service to Vest	10 years	10 years
Years for Unreduced Early	N/A (unless special plan)	30 years + age 57+
Minimum Service for Early	5 years	5 years
Contribution Rate	3% of gross salary	3.5% of gross salary
Benefit Calculation Factors	Final Average Earnings (FAE) based on 3 highest years	Final Average Salary (FAS) based on 3 highest years

Determining Your Tier 5 Benefits

To understand your specific benefits, utilize your retirement system's resources. NYSLRS members can use Retirement Online for service credit tracking and pension estimates. NYSTRS provides publications like the PREP Workbook detailing benefits and age factors.

Final Recommendations and Conclusion

Understanding what is the retirement age for Tier 5 in NY is vital. The general ages are 55 for early retirement with reduced benefits and 62 for full benefits. Reductions for early retirement can be significant. Special plans exist for professions like uniformed court officers. Always use official resources from systems like the New York State Comptroller and NYSTRS for accurate information.

Frequently Asked Questions

The normal, full retirement age for most Tier 5 public employees in New York is 62, at which point they can receive their pension without a permanent reduction due to age.

Yes, Tier 5 members can retire as early as age 55, but doing so will result in a permanent reduction of their pension benefit, which is often substantial.

For general Tier 5 employees in the ERS, retiring at age 55 can result in a permanent reduction of approximately 38.33% of the benefit. The exact penalty is prorated based on your specific age and service credit.

No, rules can vary. While the general ages are 55 for early and 62 for full retirement, certain professions like uniformed court officers or correction officers have special plans that may allow for retirement without reduction at an earlier age with sufficient service credit.

Tier 5 members typically need a minimum of five years of credited service to be eligible to retire at age 55 with a reduced benefit. For vesting purposes in ERS, ten years of credited service are required.

You can check your benefits by using the online services provided by your specific retirement system. For NYSLRS members, this is Retirement Online, which allows you to view your service credit and estimate your pension.

The rules can be different depending on the specific pension system. This article primarily covers NYSLRS and NYSTRS members. New York City employees might be part of the New York City Employees' Retirement System (NYCERS), which could have different provisions, though Tier 5 members generally fall into similar age categories.

References

Medical Disclaimer

This content is for informational purposes only and should not replace professional medical advice. Always consult a qualified healthcare provider regarding personal health decisions.