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1. Enroll in NYCERs. Note that getting hired by the MTA does not automatically enroll you into the pension plan. - a) New York City Employees' Retirement System - Trusted Partner of NYC Employees for More Than 100 Years. b) Join - New York City Employees' Retirement System
Enroll in a NYCERS Seminar with (X) Pension Seminars - New York City Employees' Retirement System
Periodically log into your NYCERS account to see that your are able to log in and that your information is up to date.
NYCERS Most Requested Forms Are Here: Most Requested - New York City Employees' Retirement System
Another form not to miss is - Special Durable Power of Attorney (POA) Form #204 Form Complete this form to designate a Power of Attorney whose power will be limited to retirement benefit transactions involving NYCERS, and will not apply to any other matters. Special Durable Power of Attorney (POA) - New York City Employees' Retirement System
Retirement Option Letter
When a NYCERS member is planning to retire, he/she usually visits the customer service center on Jay Street in downtown Brooklyn around 60 days before his/her retirement date. He/she files a retirement application and sits with NYCERS staff person to be briefed on the procedure.
One of the things the NYCERS agent does is give the member a printed estimate of the member's "maximum" retirement benefit amount along with reduced amounts for option selections for a given beneficiary. The estimate, however, is not adequate to allow a member to make an informed option selection.
Choosing an option rather than a maximum benefit allows a member to leave continuing benefit to a designated beneficiary after the member dies.
With a maximum choice NYCERS stops payment of the full benefit amount when the retiree dies. If the member chooses one of the option amounts, NYCERS will continue to pay a benefit to the beneficiary that the member designated when he/she picked an option choice.
This maximum/option election occurs after the member receives the final option letter. The members have 60 days after the date of the letter to make his/her choice. Currently, NYCERS is informing members that it will take about twelve months for NYCERS to send the member a final option letter on the annual retirement benefit along with the reduced amounts associated with option benefits that member can select in place of the full benefit.
SOURCE: NYCERS Info - John Murphy: Why is the NYCERS Retirement Option Letter Taking 12 Months?
2) Enroll in the MTA Deferred Compensation Program with Empower. a) Metropolitan Transportation Authority (MTA) Deferred Compensation Program – Empower
Enroll in Zoom Ask A Retirement Counselor Open Forum and Retirement Readiness virtual seminars.
3) Sign up for an Online Social Security Account The United States Social Security Administration | SSA. Log in at least once a year to ensure that you have access and that your information is up to date.
4) Important Information for DC 37 Members About to Retire - DC 37 Health and Security Plan Benefits: Important Information for DC 37 Members About to Retire.
5) Read the TWU Cheat Sheet / Check List. This information is also applicable to Local 3652 members with exception of how Sick time can be used - nyct_retirement_info.pdf
6) NYCT BMTATODAY Retirement FAQs & Forms
A. How do I know if I am eligible to retire?
Employees are encouraged to contact or visit NYCERS by calling 347-643-3000 or visiting 340 Jay Street, Brooklyn, NY 11201 to ensure their eligibility to retire prior to contacting the Department of Subways Retirement Unit. At NYCERS, employees may request a summary of their service record.
B. What about my benefits? Do they remain the same?
If you have questions regarding your benefits, please contact the BSC at 646-376-0123. Select Option Medical then Option Retirement.
C. When should I file an application to retire?
Employees should file applications to retire with the Retirement Unit at least 30 days but no more than 90 days before the effective retirement date.
D. What is the difference between my last day of work and effective retirement date?
For represented hourly and supervisory employees, there is a difference between the last day of work and the effective retirement date. After the last day you report to work, all current vacation (vacation not yet taken) and terminal vacation (vacation time earned in the current year that would have been available in the following year had you not retired) along with any unused AVAs and PLD if chosen, will be run-off (paid) under a normal bi-weekly schedule. Your effective retirement date will be the day after all your balances are paid.
E. How do I schedule an appointment with the Retirement Unit?
To schedule an appointment with the Retirement Unit employees should email the [email protected]. Please make an appointment as walk-ins cannot be accommodated.
F. What documents should I bring with me to my appointment with the Retirement Unit?
Employees should bring with them Service Record Summary along with their projected retirement date and pass.
G. Can I bring someone (spouse, relative, friend, etc.) with me when I meet with the Retirement Unit?
Because of security reasons, visitors (spouses, relatives, friends, etc.) will not be allowed to accompany you at 130 Livingston Street to process your retirement from NYCT.
H. What do I have to do after I meet with the Retirement Unit?
Employees may refer to the “Next Steps Information” in their Terminal Leave Package which they will receive from the Retirement Unit.
I. After retirement, will I be able to keep my employee pass?
After you retire, please contact the Employee Pass Unit to exchange your active employee pass for the retiree pass. Please note: Long Island and Metro-North Commuter Passes must be returned upon separation from the MTA.
Source: Retirement FAQs & Forms – New York City Transit
7) Updating Your Health Benefits for Retirement -Congratulations on your upcoming retirement! email from Senior Client Service Specialist
Please see attached a summary of your retirement health benefits.
b) Once we receive your completed ERB2000, we will have Section J completed and signed by our Chief. Note: the form is incomplete without Section J completed.
c) We will send you a copy of the signed document along with a letter for you to submit to your union for Rx, Dental, and Vision. Please include your personal email address when sending your completed paperwork back.
d) We will also send a copy of the signed document to NYC OLR for them to enroll you in retiree health benefits moving forward. retiree-health-benefits-application.pdf
e) If you haven’t done so, please complete the Separation Paperwork (015 & 073) and have it signed by your supervisor. Please send me a copy by your LDW.
NYC Mayors Office of Labor Relations | Powered By LeapFILE
8) Healthcare Notice via MTA Letterhead via Snail Mail ( Re: City of New York, Health Benefits Application )
This letter is to advise you that effective the first of the month following your retirement date 000002023 , your retiree healthcare benefits will be administered by the City of New York, Employee Benefits Program located at 22 Cortlmdt Street 12th Floor, New York, NY 10007. Your application to continue benefits as a retiree has been forwarded to them for processing. Your current health benefits card issued by NYCT will no longer be valid. You will receive new health benefits cards foryou and your dependents, (if applicable). Should youhave any questions regarding your retiree benefits, please contact the City of New York, Employee Benefits Program at 212 -5 13 -0 47 0 . Additionally, you are being advised to contact your union; you should provide them with a photocopy of the enclosed application along with a copy of your NYCERS pension stub. Should you have questions regarding the benefits administered by your union, please contact them at (212) 815-1234
9) Snail Mail Letter from DC37 Health and Security PLan
Dear Retiree, In order to enroll you as a retiree eligible for District Council 37 Health & Security PIan Retiree Benefits, you must provide all the requested information indicated below for yourself and your Medicare-eligible spouse/domestic partner. If you, your spouse/domestic partner are Medicare-eligible, retired and over age 65 or are disabled, eligibility will be automatic in the DC37 Medicare Part D Retiree Plan for prescription drug coverage provided through Aetna. However, to enroll Medicare-eligible participants in the DC37 Retiree Plan, must submit the following: o I copy of your completed New York City Health Benefits Application form signed and approved by Personnel /Human Resource Office in your Agency.
a) A copy of the HeaIth Insurance identification card for you / your spouse/ domestic partner must be submitted.
b) A copy of your most recent pension check stub, or if your pension check is deposited directly to your bank account, proof of direct deposit by submitting a copy of your bank statement with unrelated information crossed out.
c) A photocopy of the red, white and blue Medicare card for each person enrolled in Medicare.