Are you a Nycer in need of filing Form F552? You've come to the right place! In this blog post, we'll cover everything you need to know about Nycers and what it means to file Form F552. We'll go over how different taxes are applied to employees who work in New York City and provide step-by-step instructions for filing this important form. Additionally, we’ll discuss any penalties or risks associated with not properly filling out the form, as well as what options exist for those looking for more help or guidance. By the end of this blog post, you will have all the information necessary to understand and submit Form F552 correctly.
Question | Answer |
---|---|
Form Name | Nycers Form F552 |
Form Length | 3 pages |
Fillable? | No |
Fillable fields | 0 |
Avg. time to fill out | 45 sec |
Other names | 552 what dates qualify for nycers tier 1 form |
NYCERS USE ONLY |
F552 |
|
*552*
Retirement Option Election Form for Tier 1 and Tier 2
Maximum, Option 2, Option 3, Option
Member Number |
OR |
Pension Number |
|
Last 4 Digits of SSN |
Date of Birth [MM/DD/YYYY] |
||
|
|
|
|
|
|
/ |
/ |
|
|
|
|
|
|
|
|
First Name |
|
|
M.I. |
|
Last Name |
|
|
|
|
|
|
|
|
|
|
In Care of (if applicable)
Address |
|
|
Apt. Number |
|
|
|
|
|
|
City |
State |
|
Zip Code |
|
|
|
|
|
|
ELECTING AN OPTION
The law requires that you file your option election within 60 days of the date NYCERS mails a Retirement Options letter to you. The option you elect is important to both you and your beneficiary. Be sure you understand each option, and elect the one that best fulfills your needs. Double check that you have marked the proper box for the option that you wish to elect, because you are selecting how your pension will be paid. Please do not make any alterations to this form, as that will render it invalid. We require proof of date of birth for your designated beneficiary, as well as a marriage certificate, if your beneficiary is a married woman. When you have completed this form, sign it, have it notarized, and mail it to NYCERS, 335 Adams Street, Suite 2300, Brooklyn, NY
Service Center on the Mezzanine level of 340 Jay Street in downtown Brooklyn.
Please indicate your election by marking one of the following:
Maximum
Option 2
Survivor 100%
I elect to receive the maximum lifetime retirement allowance payable to me. I understand that all payments cease upon my death, and that under this option I cannot elect a beneficiary.
I elect to receive a reduced lifetime retirement allowance. If I die before my beneficiary, the same monthly amount will continue to be paid to him or her for life. If my beneficiary predeceases me, all payments will cease upon my death. I understand that I cannot change my beneficiary once this option election is in force. If you should die after the effective date of your retirement but before you receive your first full retirement payment, a benefit (the balance of your Total Reserve for Tier 1; the balance of your Annuity Reserve for Tier 2) under Option 1 will be paid to your beneficiary. Details on Option 1 are contained on a separate election form within your Options packet. If you would prefer that your beneficiary receive payment under Option 2 instead, place your initials in this box.
Initial Here
Option 3
I elect to receive a reduced lifetime retirement allowance. If I die before my beneficiary,
(50%) of my retirement allowance will continue to be paid to him or her for life. If my beneficiary predeceases me, all payments will cease upon my death. I understand that I cannot change my beneficiary once this option is in force. If you should die after the effective date of your retirement but before you receive your first full retirement payment, a benefit (the balance of your Total Reserve for Tier 1; the balance of your Annuity Reserve for Tier 2) under Option 1 will be paid to your beneficiary. Details on Option 1 are contained on a separate election form within your Options packet. If you would prefer that your beneficiary receive payment under Option 3 instead, place your initials in this box.
Initial Here
Sign this form and have it notarized, Page 3
R06/09/11 |
Page 1 of 3 |
NYCERS USE ONLY |
F552 |
|
Member Number |
Pension Number |
Last 4 Digits of SSN |
|
|
|
|
|||
|
|
|
|
|
Option
Option
I elect to receive a reduced lifetime retirement allowance. If I die before my beneficiary, the same monthly amount will continue to be paid to him or her for life. If my beneficiary predeceases me, my allowance will be changed to the Maximum amount and all payments will cease upon my death. I understand that I cannot change my beneficiary once this option election is in force. If you should die after the effective date of your retirement but before you receive your first full retirement payment, a benefit (the balance of your Total Reserve for Tier 1; the balance of your Annuity Reserve for Tier 2) under Option 1 will be paid to your beneficiary. Details on Option 1 are contained on a separate election form within your Options packet. If you would prefer that your beneficiary receive payment under Option
Initial Here
I elect to receive a reduced lifetime retirement allowance. If I die before my beneficiary,
Initial Here
Only one beneficiary may be named in a
Information about your beneficiary. Please print plainly in ink. Use your beneficiary's given name. (Mary Smith
not Mrs. John Smith)
First Name |
|
|
M.I. |
Last Name |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Full Social Security Number |
Date of Birth |
[MM/DD/YYYY] |
Relationship |
|
|
||||
|
/ |
/ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Address |
|
|
|
|
|
|
|
Apt. Number |
|
|
|
|
|
|
|
|
|
|
|
City |
|
|
|
|
|
State |
|
Zip Code |
|
|
|
|
|
|
|
|
|
|
|
If this beneficiary is a minor, check here and complete the guardian information on Form 137
Sign this form and have it notarized, page 3
R06/09/11 |
Page 2 of 3 |
NYCERS USE ONLY |
F552 |
|
Member Number |
Pension Number |
Last 4 Digits of SSN |
|
|
|
|
|
Signature of Member |
Date |
|
|
|
|
This form must be acknowledged before a Notary Public or Commissioner of Deeds
State of |
|
County of |
|
|
On this |
|
day of |
|
|
2 0 |
|
, personally appeared |
before me the above named, |
|
|
|
|
|
|
, to me known, and known to |
me to be the individual described in and who executed the foregoing instrument, and he or she acknowledged to me that he or she
executed the same, and that the statements contained therein are true. |
If you have an official seal, affix it |
||||
Signature of Notary Public or |
|
||||
|
|||||
Commissioner of Deeds |
|
||||
|
|
|
|
|
|
Official Title |
|
||||
|
|
|
|
|
|
Expiration Date of Commission |
|
||||
|
|
|
|
|
|
Sign this form and have it notarized, THIS PAGE
R06/09/11 |
Page 3 of 3 |