Special Election Form for Public Safety Officers Electing Distributions. The Police Pension Fund Loan Services Unit services pension loans for all Police Pension Funds active members. Information is also available at www.nyc.gov/OLR. Topics include, but are not limited to: See what the award-winning, industry-leading financial literacy experience can do for you: The Principal website is a one-stop resource for tools, information and news to help make educated decisions and take control in planning for your future retirement. Additionally, COVID protocols are still in effect. If you appear at the Fund for your appointment, you may only bring one guest with you and we ask that you not appear more than 15 minutes before your scheduled time. You may also mail or drop off any forms or documents to:New York City Police Pension Fund233 Broadway 25th FloorNew York, NY 10279. If the Article II Medical Board determines and the New York City Police Pension Fund Board of Trustees approve your death is the result of an accidental injury received in the Line of Duty as an active member of the Police Pension Fund, an accidental death benefit will be paid as follows: 1. A special rule allows you to make an election to exclude up to $3,000 a year from income taxes if such amount is applied by the Plan to pay for qualified health insurance premiums for the retiree, the retirees spouse or dependents for that year. The annual VSF benefit for 2008 and every year thereafter is $12,000. Please have the following information available at the time of the phone call: the first, middle and last name of the deceased; the date of death; Social Security Number of the deceased; name of the next of kin; and name, address and phone number of the executor or executrix of the estate, if applicable. Tax-qualified retirement arrangements, such as IRAs, SEPs, and SIMPLE-IRAs are tax-deferred. The cost of this buyback is all contributions that would have been payable to NYCERS, had the member joined on the earliest eligible date. ACCIDENTAL DEATH BENEFIT-- TIER II (ARTICLE IIA). Youve just seen how you can provide an income for your beneficiaries should you die after retirement payments begin. DEA - 26 Thomas St. (212) 587-1000. When contacting the DEA, please remember to identify yourself by name and unit. Questions may be directed to Membership Services at 212-693-5850. The investment options are selected and reviewed quarterly by the Plans fiduciary to ensure that a best-in-class lineup continues to be offered. Thanks again for all of your patience and support. Emailing membership@nycppf.org (please include your name, tax number, and call back phone number with your email). An application must be filed by a qualified person with the Police Pension Fund in order to receive in service death benefits. DEATH BENEFITS Members without an appointment, but who wish to file immediately, will be processed via telephone. Members wishing to discuss pension transactions or pension related matters should call 212-693-5100. SBA - 35 Worth Street, First & Second Fl. Well continue to post updates here. The DEA will not open unsolicited email attachments or answer anonymous messages. 2023 The Detectives' Endowment Association, Inc. Wreath Laying Ceremony for Det. For those injured on duty, tax-free disability pensions pay 75%. Members who retire for Service on or after October 1, 1968 are eligible to receive an annual statutorily defined Variable Supplements Fund (VSF) payment in addition to regular pension payments. A host of general information can be found on this site regarding benefits, recent pension legislation, agency contacts, and a frequently asked questions section. Members who do not receive a copy of their Annual Statement byWednesday, March 30th, 2022,or who have general questions regarding the statement, may contact the Fund by: Note: If you have been transferred in the recent past and did not receive your Annual Statement at your command, please reach out to your previous command before contacting the Pension Fund. Eligible members are entitled to all rights, benefits, and privileges that he or she would have been entitled to upon the earliest date of being hired as a Police Cadet. When you are eligible to receive a distribution, you may elect one of the following: NOTE: You must be retired prior to making a distribution/rollover request from the SOC Annuity Fund. Members who have registered can submit forms and ask questions via secure message. If you receive a rollover distribution from any, , you may roll the distribution into the Plan. All other messages should be forwarded to the DEA's general email address. Your respective Union shares your concerns and offers the Plan to help you build a stronger financial future for you and your family. The Fund Change of Beneficiary Form can be downloaded HERE. Our Web site provides this standard with easy access to information concerning all your pension needs. Upon the death of a member, active or retired, your beneficiary (ies) should notify the NYPD Operations Unit at 646-610-5580. The city's pension system is the fourth largest in the country, with total assets of nearly $160 billion. If you have failed to properly designate a death beneficiary, your account will be paid to your surviving spouse or, if none exists, to your estate. Laws affecting the plan can be enacted in Vested members and members who retire for Ordinary or Accident Disability are not eligible for VSF benefits. You are enrolled in the Plan if you are employed by the Police Department of the City of New York in any of the following classifications: Lieutenant, Captain, Surgeon or Captain assigned to higher rank, for whom the City of New York is required to make a contribution to the Plan. To obtain beneficiary information, either visit the Fund in person or. For inquiries regarding webCOPS, members are directed to call the Call Center at (646) 905-5596 from 0900x1700 hours. Also, any change of dependents on your health insurance may be made by mail or in person at the Health Insurance Section, 51 Chambers Street, 3rd Floor, New York, New York 10007-telephone number 646-610-5122. Contributions are made to the Plan periodically on your behalf according to the provisions within your respective Collective Bargaining Agreement. NYC Police Pension FundPlease notify the Fund in writing at 233 Broadway, 19th Floor, New York, NY 10279, attention: Death Benefits Unit or by telephone at 212-693-5619/5919. Changing your designated beneficiary with the Police Pension Fund does not change your beneficiary with your line organization and, likewise, changing your beneficiary with your line organization does not change your beneficiary with the Police Pension Fund. The city funds managers and NYPD officials insist the information, if made public, would target retirees for attacks and gun thefts. Questions may be directed to Membership Services at 212-693-5850. Pall bearers may be requested at that time and are available for all five City boroughs, Long Island, Westchester, Rockland, Orange and Putnam counties. Beginning on June 1, 2022, Deferred Compensation loan requests must be submitted to the Police Pension Fund (original forms only,walk-ins or by mail). NYC Police Pension Fund Response to COVID-19. If the Article II Medical Board determines (and the New York City Police Pension Fund Board of Trustees approve) your death is the result of an accidental injury received in the Line of Duty as a active member of the Police Pension Fund, an Accidental Death Benefit will be paid as follows: a lump sum equal to your accumulated deductions will be paid to your designated beneficiary or to your estate if no designation is on file with the Police Pension Fund. The amount of the death benefit is equal to (3) three times the member's salary, raised to the next higher multiple of $1,000 plus the member's accumulated deductions. Annuity Fund sponsored by the member's union, the second is the NYC Deferred Compensation Plan, a voluntary plan, often referred to as the 457 DCP, and the third and nal plan, which is the most comprehensive, is . You've just seen how you can provide an income for your survivors, if you die after retirement payments begin. The Superior Officers Council Health & Welfare Funds are maintained through a collective bargaining agreement between the City of New York, the Captains Endowment Association and the Lieutenants Benevolent Association. If you have not registered forwebCOPS, please do so by going tohttps://www.webcops.org/ppfmss/app. Because of that, the Fund will NOT be open on September 11, 2022 to accept NOPs. The Police Pension Fund will: DEATH BENEFITS FOR VESTED MEMEBERS DEA - 26 Thomas St. (212) 587-1000. In order for you to make informed investment decisions, it is important you read the investment material (including prospectuses if applicable) available at www.principal. The Police Pension Funds Membership Services Unit is the first interaction that our members have with their Pension Fund. Enter your username and password and Login. Article II benefits are also paid should you die before retirement, whether death occurs on or off the job. 120. Death benefits are paid through one of the following sources: DEATH GAMBLE--DEATH BENEFIT Please be advised that on September 9, 2022, the Governor signed Chapter 561 of the Laws of 2022 extending the deadline to file a Notice of Participation in the Rescue, Recovery, and Clean-Up Operations at the World Trade Center Site to September 11, 2026. Police Pension Fund refusal to release the names of recipients. Changing your designated beneficiary with the Police Pension Fund does not change your beneficiary with your Line Organization and likewise changing your beneficiary with your Line Organization does not change your beneficiary with the Police Pension Fund. The Police Pension Fund Retirement Counseling Unit counsels approximately 2000 of New Yorks Finest yearly, to prepare them for retirement. The Principal is required by the IRS to withhold 20% of any cash distributions. Guaranteed Lifetime Income With an Annuity Tax-deferred savings Consider the tax benefits of an annuity if you've maxed out your 401 (k) or IRA, are seeking additional tax-deferred savings before your retirement, and expect your tax bracket in retirement to be the same or lower than it is today. NY City Employee Retirement System (NYCERS) 2,3. As members have changes in social condition (married, separated, divorced, etc. Note: You must be logged in to access this page. Applications must be made and payment must be completed by October 29, 2024. To your surviving spouse, to continue until death; or, 2. You may invest the contributions made on your behalf in any one of the investment options offered by the Plan. 130. Welcome to the New York City Police Pension Fund Web site, our continuing effort to provide superior service to our 36,000 active members and 43,000 retired members of New Yorks Finest. Anyone picking up annual statements must wear a mask and adhere to social distancing requirements. When completing the form, please include your name, address, and only thelast four digits of your social security number. Contacting the Annual Statement hotline at 212-693-2699. While the Fund is now open for in-person business, we ask that you utilize online member self-service when possible. The Police Pension Fund which the city plans to bankroll with $2.3 billion in 2023 is the only pension fund in the state that withholds recipients names. NYPD Operations UnitSurvivors should call NYPD Operations at 646-610-5580, located at NYPD Headquarters, 1 Police Plaza, New York, New York 10038. Upon membership in the Police Pension Fund Article II, you designated beneficiary(ies) for the balance of your Annuity Savings Fund (accumulated deductions from compensation) and Death Gamble (cash death benefit) as members have changes in social condition (married, separated, divorced, etc. NYC Police Pension Fund Response to COVID-19. DEATH GAMBLE--DEATH BENEFIT a lump sum equal to the balance of your ITHP reserve account, a pension equal to 50% of your final compensation will be paid, 1. to your surviving spouse, to continue until death, 2. if you have no surviving spouse, or if your surviving spouse dies before any child of yours attains the age of 18 years, or if a full-time student, before such child attains the age of 23 years, then to such child or children under such age, until every such child dies or attains such age, 3. if you have no surviving spouse or child under the age of 18 years, or 23 years as a full-time student, surviving you, then to your dependent father or mother, to continue for life. Appointments can be for virtual or in-person sessions. This section is designed to aid the survivors of the Fund members by providing a checklist of who to contact upon the death of a Fund member or retiree, and the information that is required. Non-affidavit forms do not require notarization if uploaded via webCOPS. If you are changing your beneficiary(ies) with the Police Pension Fund, you should also contact your line organization to change your beneficiary at the address and telephone numbers listed below: If you are changing your beneficiary(ies) with your line organization, remember to change your beneficiary(ies) with the Police Pension Fund. This and other information may be found at www.Principal.com, To find out more information about the Principal Financial Group, you can visit their home page at, Additional Educational Resources - Enrich. Contacting the Annual Statement hotline at 212-693-2699. We hope that you find the information and services provided on this site to be useful and we are proud to be "Serving the Finest. Endowment Association Annuity Fund (DEA), the Sergeant's Benevolent . You may also mail or drop off any forms or documents to: Eligible members can apply to purchase this service using, Tier 3 Enhanced members will have an additional contribution rate of 1% applied and deducted from biweekly paychecks beginning December 15, 2017. The link below will explain the complete process of a NYCPPF retirement including a comprehensive retirement booklet. A Post examination of city records obtained through a Freedom of Information Law request by the taxpayer watchdog group Empire Center for Public Policy shows steady increases in police pension payouts totaling nearly $3 billion the past year alone. For more information regarding Tier 3 Enhanced, please visit the updated Tier 3 Summary Plan Description by clicking, Disability and Pension Investment Meeting Schedule, Office of Labor Relations (Retiree Health Benefits Information), Hand Gun Laws for Non-Resident Police Officers. 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