Effect of Re-employment on Retirement Tier

Purpose

This document describes what retirement tier is used when an employee returns to Research Foundation (RF) employment after leaving the payroll.

Retirement Tier

Contributions are made upon re-employment either at the employee’s original retirement tier rate or at a new tier rate, depending on the break in employment, as described in the following tables:

Note: For purposes of this section, SUNY service will not count as a break in employment for reappointment dates on or after April 1, 2000.

For Rehire Dates Prior to April 1, 2000

If the employee returned...

then...

within 15 months

contributions are made at the retirement tier rate in effect prior to the employee’s termination.

after 15 months

contributions are made at the retirement tier rate in effect on the date of re-employment.

For Rehire Dates on or After April 1, 2000

If the employee returned...

then...

within 15 months

contributions are made at the retirement tier rate in effect prior to the employee’s termination.

after 15 months, with no SUNY service

contributions are made at the retirement tier rate in effect on the date of re-employment.

after 15 months, but with SUNY service

contributions are initially made at the retirement tier rate in effect on the date of re-employment. However, upon approval of the form Request for Retirement Credit Based on SUNY Service, contributions shall retroactively be made at the tier rate in effect prior to the employee's termination.

When Contributions Resume

Vested Employees

Contributions resume immediately for vested employees.

Nonvested Employees

Contributions resume immediately for nonvested employees provided they have

 

 

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