New York Form Prs 2 PDF Details

Teachers and educators in New York State navigate numerous procedures to ensure they receive all due benefits upon retirement, one of which involves the New York State Teachers’ Retirement System's PRS-2 form. This vital document serves as a vehicle for current members to officially claim credit for prior service rendered before their present membership date. By accurately completing the PRS-2 form, educators can make a significant impact on their retirement benefits, ensuring that every year of service counts towards their pension calculation. The form prompts for detailed information including previous employment and periods of service that could potentially be eligible for credit within the system. Moreover, compatibility with various membership tiers and the associated costs or lack thereof for crediting past service articulate the nuanced financial landscape of retirement planning within the educational profession in New York. Applicants are advised to thoroughly review the accompanying instructions and wherever necessary, submit additional verification forms to substantiate their claims for prior service credits. This not only underscores the Retirement System's commitment to a meticulous evaluation of service claims but also highlights the active role members must take in securing their financial future post-retirement.

QuestionAnswer
Form NameNew York Form Prs 2
Form Length2 pages
Fillable?No
Fillable fields0
Avg. time to fill out30 sec
Other namesprs2 how to get prior service credit with nystrs form

Form Preview Example

PRS-2 (4/12)

NY

NEW YORK STATE TEACHERS’ RETIREMENT SYSTEM

 

STRS

10 Corporate Woods Drive, Albany, NY 12211-2395

 

 

PRIOR SERVICE CLAIM

Please review the instructions on the reverse before completing this form.

OFFICE SERVICES ONLY

 

EmplID #

 

 

 

 

 

Social Security #

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

-

 

 

 

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

NAME

(First)

 

 

 

(Middle)

(Last)

 

 

 

 

 

 

 

FORMER NAME(S)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

ADDRESS

(Street)

 

 

 

 

(City)

 

 

 

 

 

 

 

(State)

(Zip Code)

 

 

 

 

 

 

Is this address your PERMANENT address to be used by the System?

Yes

 

No

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

PHONE NUMBER: (

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

I wish to claim credit in the New York State Teachers’ Retirement System for the service listed below and any other service which I am eligible to claim. I have rendered such service prior to my current membership date and desire to have it credited when I have fulfilled the statutory requirements.

NAME OF EMPLOYER

STATE

JOB TITLE

DATES OF SERVICE

PLEASE NOTE: It is necessary to submit a completed Veriication form unless the service indicated above was previously credited to a former membership at NYSTRS or New York State & Local Retirement System. The appropriate veriication

form(s) (PRS-3 through PRS-3.5) can be found on our Web site (www.nystrs.org).

1.

Were you credited with the above service in another public retirement system? YES

NO

2.

Are you presently a member of another public retirement system? YES NO

 

3.

If a member, or former member, please state name of system and registration/ID number:

 

 

____________________________________________________________________

 

I hereby certify that I am not now receiving a benefit and will not be entitled to receive a benefit at any future time from another public retirement system, in this State, in any other state or from the Federal Government on account of any of the above service.

_________________________________________________ _________________________________

Signature of Claimant

Date

INSTRUCTIONS FOR CLAIMING CREDIT FOR SERVICE RENDERED

BEFORE YOUR CURRENT DATE OF MEMBERSHIP (PRIOR SERVICE)

1.PRIOR SERVICE CLAIM

List by location name and year on the front of this form all prior service you wish to claim.

THIS FORM MUST BE SIGNED AND RETURNED TO THE SYSTEM BEFORE YOUR DATE OF RETIREMENT OR BEFORE THE DATE YOUR MEMBERSHIP CEASES. Additionally, you must be credited with

a minimum of two years of membership credit before you may purchase (if applicable) and be credited with any prior service for which you are eligible.

2.MEMBERSHIP TIERS

Tier

Dates Last Joined

Tier

Dates Last Joined

1

Before 7/1/1973

4

9/1/1983 - 12/31/2009

2

7/1/1973 - 7/26/1976

5

1/1/2010 - 3/31/12

3

7/27/1976 - 8/31/1983

6

On or after 4/1/12

3.ALLOWABLE PRIOR SERVICE

NYS and NYC Public and Teaching Service: Members of ALL tiers may receive credit for NYS public and teaching service (full-time, part-time, or substitute work), including NYC, if such service was credited or would have been creditable in any NYS or NYC public retirement system at the time the

service was rendered.

Out-of-State Teaching Service:

Tier 1

Members may receive credit for up to ten years of teaching in out-of-state

 

public schools or state-supported colleges.

Tier 2

Members may receive credit for out-of-state public teaching service only

 

if this service was credited to a former Tier 1 membership in TRS.

Tiers 3 – 6

Members cannot receive credit for out-of-state teaching service.

4. COST

 

Tiers 1 and 2

There is no cost to have prior service credited.

Tier 3

The cost is 3% of the salary received during the period of the service.

 

Interest of 5% per year is charged only on service rendered under a

 

former Tier 3 membership.

Tier 4

The cost is 3% of the salary received during the period of service plus 5%

 

interest per year on all service.

Tier 5

The cost is 3.5% of the salary received during the period of service plus 5%

 

interest per year on all service.

Tier 6

The cost is 6% of the salary received during the period of service plus 5%

 

interest per year on all service.

FService for private or parochial schools, for the federal government or in armed forces dependent schools is not creditable in our System under any tier.

FService credit can affect your eligibility for, and the calculation of, your benefits. It may also affect the point at which Tier 4 members are eligible to cease making mandatory member contributions. If you are unsure about your prior service eligibility, you should file a claim for service not already credited to your membership.

FIn addition to filing this form with NYSTRS, you must send the applicable verification form to your former employer to complete and return to NYSTRS. The various verification forms (e.g., for NYS teaching; or other NYS public employment) are available on our Web site at www.nystrs.org/main/forms/prior-service.htm, or may be ordered through our Hotline at (800) 782-0289.