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Get and Sign Nystrs Prs 3 5 Fill In Form 2012-2022

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hello and welcome to part three of our nicer z' benefits series in this video we'll cover the calculation of a service retirement benefit which is the benefit most members will receive at the end of their Public Service careers the general formula that determines this benefit is pension factor x age factor times your final average salary let's take a closer look at that formula think of the pension factor as a percentage of your final average salary in general every additional month of service credit you receive raises the pension factor say your retire under tier 4 if you have less than 20 years of service the pension factor is one point six seven percent per year of service credit the pension factor increases to two percent if you have between twenty and thirty years of service if you continue to work beyond thirty years you receive 2% per year for the first 30 years and an additional 1.5 percent for each year beyond 30 let's take a look at some specific examples if you retire with 1

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