Filling out rs 5014-2025

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The document is a withdrawal application form for terminating membership in the New York State and Local Retirement Systems. It outlines the eligibility criteria, payment options, tax implications, and procedures for members wishing to withdraw their contributions after separation from service. Key points include information on vested rights, the process for rolling over funds to an IRA or another retirement plan, and mandatory tax withholding requirements.

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Click ‘Get Form’ to open the RS 5014 in the editor.
Begin by entering your Full Name in the first field. Ensure that it is printed clearly.
If applicable, provide your Maiden Name in the second field.
Input your Social Security Number in the third field, ensuring accuracy as this is crucial for processing.
Fill in the name of your Last Public Employer and your Last Day Worked if known.
Enter your Registration Number and Date of Birth in their respective fields.
Provide your complete mailing address, including street, city, state, and zip code.
Select one payment option from the choices provided regarding how you wish to receive your funds.
Finally, sign and date the form at the bottom. Make sure to initiate any corrections if necessary.

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Got questions?

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

Can I cash out my retirement at any time?

Yes. If the plan allows, withdrawals before 59 are possible, but they usually trigger both ordinary income taxes and a 10% early withdrawal penalty.

How do I cash out my NYS retirement?

If you are vested and separate from state employment, you can leave your account with ERS or process a withdrawal of your retirement contributions. If you decide to leave your account with ERS, be sure to contact ERS to start the retirement process when you are first eligible.

What happens to my NYS retirement if I quit?

If you leave public employment with less than ten years of service, you can end your membership and receive a refund of your contributions (go to Ending Your Membership for Members with Less than Ten Years of Service to read more). You cannot withdraw from NYSLRS once you have ten years of service credit.

How do I withdraw from NY State retirement system?

To withdraw your membership, sign in to your Retirement Online account, go to the My Account Summary area of your Account Homepage and click Withdraw My Membership. You can also apply by mail by submitting the Membership Withdrawal Application (RS5014).