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Important Information on Veterans Buyback Law

Important Information on Veterans Buyback Law

PEF Members: Military service credit legislation amending Article 20 of the Retirement and Social Security Law was signed into law on May 31, 2016. This legislation allows members who were honorably discharged from active military service to purchase up to three years of retirement service credit, providing they have at least five years of service credit with NYSLRS, and have not received credit for this military service in any other public retirement system in New York State.

There is a cost for this service credit. Information about how to apply, eligibility and the cost to receive retirement service credit for time served in the military is available on the NYS Comptroller’s Military Service Credit web page.

To apply and request a cost for military service credit:
Scan and email your Certificate of Release or Discharge from Active Duty papers (DD-214)to  su.1527224585yn.et1527224585ats.c1527224585so@ti1527224585nusm1527224585and include your name and contact information. You’ll receive an email acknowledging that we received your request.

OR
Fax your name, contact information and a copy of your DD-214 to 518-486-6405or 518-402-7799.

OR
Mail your name, contact information and a copy of your DD-214 to:
Military Service Unit
110 State Street
Albany, NY 12244-0001.

You’ll receive an acknowledgement letter in the mail once your request is being processed. If you have questions, email the NYS Comptroller’s office at su.yn1527224585.etat1527224585s.cso1527224585@tinu1527224585sm1527224585.

For full-time employees, this is how you can estimate the cost:

  • Tiers 1, 2, 3, 4 and 5: The cost will be 3 percent of the compensation you earned during the 12 months of credited service immediately prior to our receipt of your request, times the number of years of military service being claimed.
  • Tier 6: The cost will be 6 percent of the compensation you earned during the 12 months of credited service immediately prior to our receipt of your request, times the number of years of military service being claimed.