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Versions	Form popularity	Fillable & printable
2020	4.8 Satisfied (55 Votes)
2016	4 Satisfied (36 Votes)
2013	4.3 Satisfied (295 Votes)
2012	4.3 Satisfied (50 Votes)

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We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

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Can you borrow money from pension fund?

Pension loans are legally allowed in many cases, but plan sponsors determine whether theyre allowed. If your employer does allow loans, it will likely be limited to a percentage of the balance up to a fixed amount.

Can you cash out from NYCERS?

You may choose to: Terminate your membership and withdraw your accumulated contributions plus interest; or. Leave your contributions in your account and qualify for a retirement benefit when you are age 55.

How much pension loan can I get?

Maximum Loan Amount: Age up to 70 years: Rs. 10 lakh or 18 times of Net Monthly Pension (For Defence pensioners, 20 times net monthly pension), whichever is lower. Age above 70 years and up to 75 years: Rs 7.50 lakh or 18 times their Net Monthly Pension (20 times in case of Defence Pensioners), whichever is lower.

Does NYCERS have an app?

NYCERS mobile app is now available for download from Google Play or the App Store. Registration instructions are available on the mobile app and on .mynycers.org. Online services are available 24/7 from both the mobile app and the MyNYCERS website.

Who is eligible for NYCERS?

Generally, NYCERS membership is open to all employees of the City of New York and Participating Employers except those who are eligible for membership in the Police or Fire Department pension fund, or the Teachers or Board of Education retirement system.

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