The Retirement Process

NYS Retirement Process
Don’t forget that the actual retirement process has two distinct paths. And this is a case where both paths must be followed.

We’ll call them “Employer-Related” and “System-Related” paths.

First, the Employer-related path. You must inform your employer of your impending retirement. This step can be as simple as presenting a letter of resignation telling your employer the date you wish to leave service.

You should be aware, some contracts have notification dates and conditions of which you must have knowledge and to which you must adhere.Secondly, the System-related path. You must fill out a retirement system application and have it notarized. This is when you have to make a decision whether to,
a) Protect a beneficiary or b) Choose your maximum pension.

This is the point where advice and consultation can be a great help.

Hank Sessa NYS Retirement Guide