NYSLRS’ Comprehensive Annual Financial Report (CAFR), published each fall, has a wealth of information about the Retirement System. Much of it is technical — mostly about investments — but it’s also a good place to learn about NYSLRS retirees.
Here are a few tidbits we’ve gleaned from the latest edition, which includes data from the State fiscal year that ended March 31, 2019.
NYSLRS Retirees by the Numbers
NYSLRS was providing pension benefits to 481,795 retirees and beneficiaries as of the end of the fiscal year.
Nearly 79 percent of NYSLRS retirees and beneficiaries — some 379,057 — live right here in New York State, and they can be found in every county. Long Island and Western New York are both home to more than 60,000 NYSLRS retirees and beneficiaries, while nearly 55,000 live in the Capital District.
NYSLRS retirees can also be found in every state. Florida, not surprisingly, is the number two choice — more than 38,000 call the Sunshine State home. North Dakota is the least popular destination, with only two dozen NYSLRS pensioners. Another 695 live outside the United States.
NYSLRS Pensions at Work
NYSLRS retirees live in our communities. Their pension money flows right back into our neighborhoods, stimulating and growing local economies. In 2018 alone, NYSLRS retirees generated $12.6 billion in economic activity in New York State. They paid nearly $2 billion in property taxes, paid State and local sales taxes, and spent money at local businesses. Spending by NYSLRS retirees and their beneficiaries was responsible for creating an estimated 76,100 local jobs in 2018. Learn more.
An Award-Winning Publication
NYSLRS has received a Certificate of Achievement for Excellence in Financial Reporting for the CAFR for the last 15 years. It’s a national award recognizing excellence in the preparation of state and local government financial reports.
To find out more about retirees, members and NYSLRS’ investments, check out this year’s CAFR on our website.