Retirement Time Transfer

[NorwichCadet]

Can somebody please explain this to me? I understand that every civil service contributes to one fund and no matter where you go your time transfer within the state obviously. But what does it mean you can buy your time back as stated with some police departments? Like i read in the paper a guy who was NYPD for 16 years went to Suffolk PD so does he retire with a nice pension from Suffolk i'm curious explain please

[PlainSilverTin]

well buying time back is different from time that transfers over, lets say you started a job but did not buy into your pension the first year. after that first year you decide you want to go into the pension plan , you are entitled to buy back that 1st year giving you a toltal of 2 years that is transferable instead of 1 if you decide to leave. as far as time transferring, that nypd officer carries over his time but is still bound by the suffolk retirement plan rules, talk to someone over at NYCERS or suffolk, they can answer your questions

[John2008]

From what I hear if you come from a state agency such as NYSP to SCPD your time doesnt transfer over, is there any truth to this?

[Dinosaur32]

Time transfers count in different ways. There are a number of pension plans in New york state and the NYPD pension is a separate entity. If you transfer from one job to another within the same plan, your time is generally immediately transferrable. However if you go to a job in a different plan, you generally have to meet that plan's requirements before your time counts. so if you are a NYS Court Officer and leave to become a Suffolk county cop, you have to meet the time requirement of their pension plan, then your state time will be credited.

[NorwichCadet]

sooo you basically saying if i did NYPD for lets say 5 years and tranferred over to SCPD i still would have to do 20 years in SCPD to retire?

[ftdtetr]

you will get credit for your 5 years, and have 15 more to do