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| Re: NYCTA pension (1523848) | |||
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Re: NYCTA pension |
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Posted by Henry R32 #3730 on Sat Sep 14 05:27:30 2019, in response to Re: NYCTA pension, posted by randyo on Fri Sep 13 18:42:02 2019. I don't know about NYCT but it sounds like NYS Tier 3, they allow people to "retire in Tier 4" so that they can avoid the Social Security offset.What's rather amusing is with the ability to retire in a later Tier, the Tier 6 rules can result in a higher pension than any earlier tiers for anyone who works over 40 years. All tiers, 40 years=75% final average salary. The difference is, the earlier tiers are 60% at 30 years, earning 1.5% for each additional year. Tier 6 is 55% at 30 years, with 2% for each additional year. The two lines cross at the 40 year mark. |
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