Pre-Retirement Checklist for New York Government Employees
This short checklist was designed to help you in planning for retirement. It is not intended to be all-inclusive, but is meant to highlight some of the critical steps you should take with each agency/provider listed below.
Meet with your agency Health Benefits Administrator (HBA) to discuss:
- Eligibility requirements for continuing health insurance coverage as a retiree and whether you meet them.
- How sick leave credit may reduce the cost of your health insurance coverage.
- Dual annuitant sick leave credit.
- Option to defer your health insurance coverage as a retiree.
- Your dental, vision, and life insurance benefits after you retire.
Before your last day on the payroll, meet with your HBA to:
- Recalculate the value of your sick leave credit.
- Tell your HBA if you want dual annuitant sick leave credit. You must decide no later than your last day on payroll and you may not change it later.
- Tell your HBA if you want to defer your coverage as a retiree. You must decide no later than your last day on payroll, and must have other health insurance coverage, for example, through your spouse’s/domestic partner’s employer or through post-retirement employment.
After you retire:
- Watch the mail for your “Dear Retiree” letter.
- Watch the mail for your bill for health insurance.
- Keep your payments up-to-date until your pension deductions begin. Once pension deductions begin, you will no longer be billed as the premium will be paid through your pension.
New York State Office of the State Comptroller (OSC); NYSLRS
Preparing for retirement:
- Request a general estimate 12-18 months before you retire to determine the approximate amount of pension you can expect to receive monthly. Use form RS6030.
- Locate proof of your birth date. No benefits can be paid without this proof.
Filing for retirement:
- Submit your retirement application, along with your proof of date of birth, at least 15 but not more than 90 days prior to your date of retirement. Use form RS6037.
- Submit a W-4P Form (form available from Guide, OSC Website, or Call Center). Use the OSC tax calculator to help you determine how much you should have withheld from your retirement benefit.
Selecting your retirement option:
- Review your general estimate and select the option that best fits your specific needs.
- File your Retirement Option Election form no later than the last day of the month in which you retire.
- Before and after retirement, periodically check to make sure your beneficiary information is up-to-date.