Q: I intend to retire at the end of the current school year. I recently attended a retirement seminar and was told that from the retirement system's point of view, it does not matter whether I retire on June 30 or July 1. Will either date entitle me to 1/12 of my annual pension beginning the end of July 2007?

A: Yes, but that's not your only consideration. Generally, members retire effective July 1 so that if any retirement legislation is enacted into law before Dec. 31 of that calendar year, the members would be eligible because they were still in-service members on June 30.

If you retire on June 30 and retirement legislation is passed later that year, you would be ineligible because you were already retired on that date.

Q: I read with interest the column where you indicated a possible legislative change for Tier 3 and 4 members who contributed 3 percent past 10 years. My situation may or may not be different. I started in 1978 as a Tier 3 member and contributed until 2000, when the law stated that I didn't have to. However, subsequent prior service legislation allowed me to be admitted into Tier 1 in September 2002. Since I was in Tier 3 for such a long time before the legislation was enacted, do you think I will be eligible, if this new legislation passes, to receive the one-month credit for every year past the initial 10 years?

A: No. The legislation was specifically addressed to in-service members in Tier 3 and 4 at the time the law would be enacted. Retirees, as well as members who are no longer in Tier 3 and 4 (such as you — reinstated to a former tier) are ineligible.

Keep in mind that Tier 1 members are benefiting from the NYSUT enhancement bill that became law in 2000. It will provide 4 percent more of your final average salary. (This means a bigger monthly pension.)

Q: At what age can I retire and get my maximum final average salary? I am a Tier 4 member. Can I go at the age of 55 with 30 years in? Or is it age 62 with 30 years in? I will be 59 years old when I have 30 years in the system. I keep getting different scenarios from teachers in my district.

A: Tier 4 members are eligible to retire without penalty at a minimum age 55 with 30 years of credited service. From your e-mail it seems that when you reach 59 you will have the necessary years, so that is when you can retire with 60 percent of your final average salary.

Q: If there is a 55/25 incentive, is Tier 1 included?

A: No. This incentive would ease retirement restrictions for Tiers 2, 3 and 4. Currently, members of those tiers must earn 30 years of service credit in order to retire at 55 with a full pension.

Tier 1 is a 55/20 plan: minimum age is 55, and minimum years of service for a full pension is 20 years. Tier 1 members don't need the ability to retire with 25 years of credited service because the tier's basic mandate is 20.