New York Codes, Rules and Regulations
Title 21 - Miscellaneous
Chapter LVIII - New York State Teachers' Retirement System
Part 5014 - Options
Section 5014.1 - Options available to members at retirement-general
Universal Citation: 21 NY Comp Codes Rules and Regs ยง 5014.1
Current through Register Vol. 46, No. 12, March 20, 2024
A member may elect at retirement, in lieu of the maximum benefit, one of the following options, as applicable:
Lump sum option
Declining reserve (tier 1 members only)
Annuity reserve (tier 1 and 2 members only)
Guarantee option
5-year
10-year
Alternative option (tier 1, 2, 4 and 5 members only)
Alternative option (tier 3 members only)
Survivor option
100%
75%
50%
25%
Pop-up option
100%
75% (tier 1, 2, 4 and 5 members only)
50%
25% (tier 1, 2, 4 and 5 members only)
Each option is defined in section 5014.2 of this Part.
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