1. What is the NYS Retirement Sick Leave Credit?

The NYS Retirement Sick Leave Credit is a benefit that allows eligible New York State employees to convert unused sick days into a monthly retirement credit. This credit increases the retiree's pension benefit.

2. How Does the Calculator Work?

The calculator uses the NYS Retirement Sick Leave Credit formula:

Where:

• Unused Sick Days — Total accumulated unused sick days at retirement
• 260 — Standard number of working days in a year
• Final Average Salary — Average salary used for pension calculation
• 12 — Months in a year

Explanation: The equation converts unused sick days into an equivalent service credit which is then applied to increase the monthly pension benefit.

3. Importance of Sick Leave Credit Calculation

Details: Accurate calculation of this credit is important for retirement planning, as it can significantly increase monthly pension payments for eligible NYS employees.

4. Using the Calculator

Tips: Enter your total unused sick days and your final average salary. The calculator will determine your monthly credit amount.

5. Frequently Asked Questions (FAQ)

Q1: Who is eligible for this credit?
A: Most New York State employees in the NYS Retirement System who have unused sick days at retirement.

Q2: Is there a maximum number of sick days that can be credited?
A: Yes, typically 200 days maximum can be credited, but check with NYSLRS for current rules.

Q3: How is the credit applied to my pension?
A: The credit is added to your total service credit, which increases your pension calculation.

Q4: Are part-time employees eligible?
A: Eligibility depends on your specific retirement plan. Consult with NYSLRS for your situation.

Q5: How is final average salary determined?
A: It's typically the average of your highest consecutive 36 or 60 months of salary, depending on your tier.