Purchase College - Human Resources

Human Resources

Retirement

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Tier 1 - Employees appointed before 7/1/73

Full benefits at age 55.
Fully funded by the State.
Contributions by the State to the defined contribution plan (ORP) equal 12% on the first $16,500 earned during calendar year and 15% of additional earnings.

Tier 2 - Employees appointed 7/1/73 - 7/26/76

Full benefits at 62 with at least 5 years of service - reduced benefits between the ages of 55 - 61.
Fully funded by the State.
Contributions by the State to the defined contribution plan (ORP), equal 12% on the first $16,500 earned during calendar year and 15% of additional earnings.

The laws of 1998 improved the retirement benefits for Tier 3 members of the defined benefit plans. Check with the retirement system for details.

Tier 3 - Employees appointed 7/27/76 - 8/31/83

Full benefits at age 62 with at least 10 years of service - reduced benefits between ages 55 - 61.
Employees contribute 3% on all earnings.
Contributions by the State to the defined contribution plan (ORP), which are in addition to the employee's 3% share, equal 9% on the first $16,500 in annual earnings and 12% of additional earnings.

The laws of 1998 improved the retirement benefits for Tier 3 members of the defined benefit plans. Check with the retirement system for details.

Tier 4 - Employees appointed 9/1/83 - 7/15/92

Full benefits at 62 with at least 5 years of service - no provision for earlier retirement, and benefit reductions for less than 25 years of service.
Employees contribute 3% on all earnings.
Contributions by the State to the defined contribution plan (ORP), which are in addition to the employee's 3% share, equal 9% on the first $16,500 in annual earnings and 12% of additional earnings.

Tier 4 + Employees appointed on or after 7/15/92 who elect the optional retirement programs (ORP)

Employees contribute 3% on all earnings.
Contributions by the State which are in addition to the employee's 3% contribution, equal 8% on all earnings for the first 7 years of employment and 10% for all years thereafter.

SUNY Voluntary Retirement Savings Programs

Disability Retirement Allowance

ERS Members

The New York State Employees' Retirement System (ERS) provides a disability retirement allowance for its members who become permanently physically or mentally unable to perform their duties as a result of an accident or illness. Employees with at least ten (10) years of service may be eligible for an ordinary disability retirement allowance if it is determined that the employee is incapacitated.

In the case of disability resulting from an on-the-job accident or illness, employees may receive disability benefits regardless of length of service, providing the disabling event is not the result of the employee's negligence. An injured employee must file a timely written notice of the accident with their supervisor and the retirement system must be notified within ninety (90) days of the accident. Generally, the disability benefit for Tier 4 employees will be either 1/60th (1.66%) of final average salary for each year of service, or one third (33.3%) of final average salary, whichever is greater.

TRS Members

The New York State Teachers' Retirement System (TRS) provides a disability retirement allowance for its members who become permanently physically or mentally unable to perform their duties as a result of an accident or illness. Employees with at least ten (10) years of service may be eligible for a disability retirement allowance if it is determined that the employee is physically or mentally incapacitated for performance of gainful employment. If it is determined that the disability is the result of an accident or illness not caused by your own negligence and sustained in the performance of your duties, the ten (10) year service requirement is waived.

Social Security Disability Allowance

The US Social Security Administration provides a disability benefit to employees who are disabled to the extent that they cannot perform substantial gainful work and meet specific eligibility guidelines. The amount of disability benefit is the employees Primary Insurance Amount (PIA) at the time they become disabled. There is a five (5) month waiting period from the time a disability is determined until benefits begin. Benefits may be reduced if the employee is receiving payments under workers' compensation or other disability plan. Additional information is available in the Human Resources Office or directly from the local Social Security Administration office.

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