nypd vesting out

[Eric89]

I'm trying to contact the police pension section through email no luck, so if anyone has any info, I greatly appreciate it.

I have about 7 years on the job, + two years with a different agency in NYC - (NYC TLC inspector). When I got appointed to the NYPD I filled out forms to buy back and transfer funds from new york city employee retirement system (NYCERS) to the police pension section. I am tier 3R - which I believe is tier 3 revised, whatever that even means.

Has anyone vested out at around 5-10 years of NYPD service? Do we need to wait 10 years to vest out? What is the difference between resigning vs vesting out? Don't exactly know what benefits we keep if any - or if my previous job as a NYC TLC will put me at 7 years NYPD + 2 years TLC = 9 years total ...

Thinking of moving out of NYC. I know the best way to find out more info is contacting the pension section, but until I can make a visit to the office sometime this week or the following, I'm trying to get whatever info I can get now.

If anyone has any info, anything helps. Thanks.

[ZooKeeperOEF]

When you resign, you can roll your pension over to another state or city agency and get credited for the time you did in the city.

You can vest out after 5 years of uniformred service. You begin collecting when you reach age 55 or the 20th anniversary, whichever comes first. Benefits will be reduced by 1/30 for each year if collected before the 20th anniversary. To calculate how much you would receive

2.1% of the final average salary x years of credited service -minus- 50% of primary Social Security Retirement benefit commencing at 62

I believe the Final average salary for tier 3 revised is the average of best 5 consecutive years.

As for your TLC time, you would have to buy that back and thus receive 9 yrs total of credited service.

Good luck, I resigned after 5.5yrs. roll that over to another agency plus buying back my military time allows me to retire in 12yrs.