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PENSIONS 101: An Introduction To The Basics Of Tiers 4 and 6Perhaps you recently joined the NYC Employees Retirement System in the new Tier 6 that was enacted in 2012. Or, perhaps you are a longer
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The Tier 6 Basic Plan is a retirement plan option for public employees in New York, designed to provide pension benefits to new entrants who are enrolled in the New York State and Local Retirement System (NYSLRS).
New public employees who are eligible for membership in the NYSLRS and opt for the Tier 6 plan are required to file the plan.
To fill out the Tier 6 Basic Plan, new employees must complete the appropriate forms provided by their employer or the NYSLRS, including personal information, employment details, and beneficiary designations.
The purpose of the Tier 6 Basic Plan is to provide a structured retirement savings program for public employees, ensuring long-term financial security upon retirement.
Information that must be reported includes personal identification details, salary information, beneficiary details, and service credit earned.
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