Discussions of pension reforms often include a proposal to create a new pension tier. What does that mean?

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NYCTaxpayer

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Posted 7 years ago

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A new pension tier signifies the creation of a new class/category/level of pension plan. Depending on the design, intent, circumstance, and applicable law, the new plan or set of plans under a new tier may be applied to existing or future employees.

For information regarding benefits administered by the New York City
Employees' Retirement System (NYCERS), please contact NYCERS' Call
Center at (347) 643-3000 or visit www.nycers.org.

For information regarding benefits administered by the Teachers' Retirement System (TRS) visit TRS’ website at www.trsnyc.org or contact TRS’ Member Services Center at 1 (888) 8-NYC-TRS.