Most NYSLRS members contribute a percentage of their earnings to help fund pension benefits. For Tier 6 members (those who joined NYSLRS on or after April 1, 2012), that percentage, or contribution rate, can change from year to year based on your earnings. The minimum rate is 3 percent of your earnings, and the maximum is 6 percent.
When Tier 6 Contribution Rates are Determined
A Tier 6 member’s contribution rate is calculated annually. New rates become effective on April 1, the beginning of the state’s fiscal year. Once your rate is determined for a given fiscal year, it doesn’t change for the rest of that fiscal year. We provide rates to your employer in March, a few weeks before they need to apply any rate changes.
How Your Tier 6 Contribution Rate is Calculated
If you are a new NYSLRS member, during your first three years of membership your contribution rate is based on an estimated annual wage that your employer provided when you were enrolled as a new member.
If you have been a member for three or more years, NYSLRS calculates your rate using the earnings reported to us by your employer from the last completed fiscal year, April 1, 2022 through March 31, 2023.
Rates are calculated using your base pay, which includes:
Update for 2024: Overtime is no longer excluded from the Tier 6 contribution rate calculation.
Legislation enacted during the COVID-19 emergency temporarily removed overtime from the Tier 6 contribution rate calculation. For some Tier 6 members, this meant lower contribution rates for up to two years, from April 1, 2022 through March 31, 2024.
Beginning April 1, 2024, overtime will be included in the calculation of contribution rates.
This video will help explain how your contribution rate is determined:
How Your NYSLRS Pension Works
The amount you contribute to the Retirement System does not affect the amount of your pension. A NYSLRS pension is a defined-benefit plan. Under this type of plan, once you are eligible for a pension and apply for retirement, you will receive a monthly payment for the rest of your life. The amount of your pension will be calculated using a formula based on your retirement plan, years of service and final average earnings.
You can learn more about how your pension will be calculated by reading your retirement plan publication. Use our Find Your NYSLRS Retirement Plan Publication tool to find yours.
Member Annual Statements are distributed to NYSLRS members each spring. Don’t wait for a mailed copy — get your Statement online instead! You can update your delivery preference in Retirement Online to receive an email when your Statement is available.
From your Account Homepage, click “update” next to ‘Member Annual Statement by.’
Choose “Email” from the dropdown.
Check and Update Your Contact Information
Retirement Online is the fastest way to check your contact information and update it if needed. If you don’t already have an email address on file, please provide it so that we can contact you quickly if we need to notify you about important information such as a change to your benefits. Use a personal email address you will have access to before and after you retire, rather than a work email address. You should also make sure your mailing address and phone number are current.
To update your contact information, click “update” next to your email address, mailing address or phone number to make corrections.
Use Retirement Online to Stay Informed
Your annual Statement is a snapshot of your NYSLRS account as of March 31. For the most up-to-date information year-round, sign in to your Retirement Online account.
In Retirement Online, you can view your date of membership, tier, retirement plan, estimated total service credit and more. Check out what else members can do in Retirement Online.
When it comes to managing your NYSLRS account, Retirement Online is the fastest way to do it. Skip printing forms, having them notarized and sending them through the mail — when you submit your requests online, NYSLRS has them immediately and your changes will be completed more quickly. It’s convenient, and it’s secure.
Here’s a look at some of the things NYSLRS members (not yet retired) can do online.
View Your Account Information
Sign in to Retirement Online for easy access to key information to help you plan for retirement. On your Account Homepage, you can find your date of membership, tier, retirement plan (which you can use to find your retirement plan publication), estimated total service credit and more.
Change Your Delivery Preference to Email and Help Us ‘Go Green’
Save time and reduce paper waste — help us ‘go green’ by choosing the paperless option. When you choose to receive information from NYSLRS electronically, we will send you an email when important documents and letters are ready to view in Retirement Online.
From your Account Homepage, click the “update” link next to ‘Contact by’ or ‘Member Annual Statement by.’
Choose “Email” from the dropdown menu.
If you choose “Email” as your delivery preference, you will not receive a printed copy in the mail.
Update Your Contact Information
It’s important that we have your current contact information so you receive the news, letters and statements that we send you. You can update your email address, mailing address and phone number in the ‘My Profile Information’ section of your Account Homepage. Just click “update” next to the item you’d like to change. Use a personal email address that you will have access to before and after you retire, rather than a work email address.
View and Update Your Beneficiary
NYSLRS retirement plans provide death benefits for beneficiaries of eligible members who die before retiring. It’s a good idea to review your beneficiaries from time to time to make sure your choices reflect your current wishes. Retirement Online is the fastest way to add or remove beneficiaries or update their contact information. Click the “View and Update My Beneficiaries” button to get started.
Estimate Your Pension
How much will your pension be? It’s an important question as you’re planning for retirement. In just a few steps, most members can estimate their retirement benefit based on up-to-date account information, then save or print the estimate. Entering different dates and comparing the results can help you choose the retirement date that’s right for you. From your Account Homepage, click the “Estimate my Pension Benefit” button.
Apply for a Loan and Manage Loan Payments
It’s easy to apply for a loan in Retirement Online. If you are eligible to take a loan against your retirement contributions, you can see how much you can borrow, your repayment options and whether your loan will be taxable — all before you apply. Click the “Apply for a Loan” button to start an application.
If you have an existing loan, you can click the “Manage My Loans” button to adjust your payment amount or to make an additional one-time payment.
Request Credit for Previous Service
If you worked for a participating public employer before joining NYSLRS, or if you served in the U.S. Armed Forces, you may be able to purchase service credit for that time. Click the “Manage My Service Credit Purchases” button to request credit and upload any supporting documentation.
Purchase previous service credit as soon as possible. It’s cheaper and will make it easier to calculate your final monthly pension payment.
Get Your Member Annual Statement Faster
Your Member Annual Statement can help you understand your benefits. It’s a snapshot of your NYSLRS account based on the information we have on file for you as of March 31 each year, the close of our fiscal year. Statements will be available online in the spring, sooner than printed copies will be mailed — update your delivery preference to “Email” to get notified when it’s available online.
Generate a Mortgage Verification Letter
If you need to provide proof of your NYSLRS account information for a mortgage, you can get your own income verification letter online. From your Account Homepage, in the ‘I want to…’ section at the top right, click the “Generate Income Verification Letter” link. You can print a document that shows your contribution balance, and — if you have an outstanding loan — the date of your last loan, the current balance and the interest rate.
Apply for Retirement
When you are ready to retire, Retirement Online allows you to skip the hassle of mailing paper forms or visiting our office. You can apply for a service retirement benefit, choose your pension payment option, sign up for direct deposit and submit retirement-related paperwork online. A big advantage of applying online is that you don’t have to get anything notarized. Read our blog post about applying for retirement for more information and links to resources.
Other Online Transactions
If you previously were a member of another New York State public retirement system before joining NYSLRS, your service could be recredited and your date of membership and tier restored. You can click the “Reinstate a Previous Membership” button to get started.
If you leave public employment with less than ten years of service credit, you can use Retirement Online to withdraw your membership. However, this will terminate your membership with NYSLRS. If you have any questions, speak with a customer service representative before you submit your withdrawal application. You can message them using our secure contact form.
If you need help accessing Retirement Online, here’s some handy information to help you register, sign in, reset your password and more.
Registering for Retirement Online
For security reasons, when you sign up for an account, you will be asked to identify yourself, confirm your Social Security number and verify your identity. Then you’ll be asked to create your user ID and password. Read our Registering for Retirement Online guide for help with the registration process.
After you sign in for the first time, you’ll be asked to choose security questions and submit answers. Make sure you remember your responses — you’ll need to answer these questions again if you are ever locked out of your account or need to reset your password.
Keep Your Password Current
Be sure to sign in at least twice a year and update your password so it doesn’t expire.
Forgotten User IDs or Passwords
You can retrieve your user ID or reset your password on your own.
To look up your user ID, go to the Retirement Online sign-in page. Click the “Forgot ID” link above the User ID field. From there, you can identify yourself and answer security questions to receive your user ID. Read our Forgot User ID guide for step-by-step information.
If you’ve forgotten your password, click the “Forgot Password” link above the Password field. You’ll identify yourself with your user ID and answer security questions to reset your password. Read our Forgot Password guide for step-by-step information.
Account Lock Out
When signing in to Retirement Online, you have a limited number of attempts to enter your user ID and password correctly. After that, the system will lock your account for security purposes. If this happens to you, don’t worry. Most users can unlock their own account and set a new password in just five steps.
Click “OK” on the pop-up message saying your account is locked.
Select how you want to receive your security code and click “Next.”
Enter the security code you received and click “Submit.”
Correctly answer secret questions that you created when you first registered.
Enter a new password and click “Reset Password.”
What Web Browser to Use
Retirement Online works best in Microsoft Edge and Google Chrome. If you’re having trouble signing in, clearing your browsing data may help. Read our Clear Your Cache guide for step-by-step information.
Retirement Online is generally available:
Monday, Wednesday and Friday from 7:00 am to 10:00 pm
Tuesday and Thursday from 7:00 am to 6:00 pm
Weekends from 6:00 am to 11:00 pm
Over time, we will expand our hours to better serve you. For more information and the latest hours of availability, please visit our Retirement Online Sign In page.
You can find more information and tips on our Retirement Online page. If you need help, contact our customer service representatives for assistance. You can call them at 866-805-0990. Press 2 and follow the prompts. The Call Center is open Monday through Friday, from 7:30 am to 5:00 pm.
More than 480,000 members and retirees have discovered that Retirement Online is the fastest way to do business with NYSLRS. It’s secure and convenient, and helps you avoid calling or mailing forms. It also gives you instant access to information about your benefits. And, your important documents will be available online, sooner than printed copies are mailed.
Retirees Can Do Even More in Retirement Online
The Fastest Way to Get Your 1099-R Tax Document
With Retirement Online, you can get the tax information you need faster. If you receive a taxable benefit from NYSLRS, your 1099-R is now available online. Sign in to view, save or print your tax form for 2023.
View Your Retiree Annual Statement Online
Your Retiree Annual Statement provides important information about your benefit amount, deductions and tax withholding. Beginning with your 2023 Statement, you can now access it in Retirement Online.
Make the Switch to Email and ‘Go Green’
Be the first to know when documents are available online — email delivery gives you access to your important documents sooner. It also helps the environment by reducing paper consumption. ‘Go green’ by choosing the paperless option.
It’s easy to make the switch. To receive an email when your 1099-R tax form and Retiree Annual Statement are available in Retirement Online next year:
From your Account Homepage, click the “update” link next to ‘1099-R Tax Form Delivery by’ or ‘Retiree Annual Statement by.’
Choose “Email” from the dropdown.
Be sure to check that the email address listed in your Retirement Online profile is current.
If you choose the email delivery preference, you will not receive a printed copy in the mail.
Don’t Forget These Timesaving Features
Change Your Federal Tax Withholding
No forms needed — Retirement Online is the fastest way to update your withholding. If you submit your changes by the middle of the month, they will generally be applied to that month’s payment.
Generate a Pension Verification Letter
There are organizations that may ask you for a letter verifying your pension income — maybe for housing or as part of an application for the Home Energy Assistance Program (HEAP). You can use Retirement Online to save or print your own letter any time you need one.
Manage Your Direct Deposit
Use Retirement Online to securely update your direct deposit bank account information. Whether you’ve switched banks or need to move your deposits to a different account, you can make those changes quickly with Retirement Online. Changes are generally applied within one to two payments, and more quickly than if you send in a paper form.
View Your Pension Pay Stubs
You can access pay stubs for your benefit payments by clicking the date of the payment you want to view. You can track year-to-date totals and any deductions for health insurance, union dues, tax withholding or disbursements under a domestic relations order, giving you greater insight into your benefits. NYSLRS will also send you a notice whenever the amount of your monthly payment changes.
Update Your Contact Information
Let us know if you move or your phone number or email address change. Update your contact information quickly in Retirement Online to make sure you continue to receive important news and information about your benefits.
You can even schedule an address change, so you’ll get NYSLRS mail at your seasonal home without interruption.
Manage Your Beneficiaries
Eligible retirees can change their beneficiary for their post-retirement death benefit or update contact information for an existing beneficiary.
Your Retiree Annual Statement is now available in Retirement Online! Retirees who opted to go paperless already received an email notifying them that their Statement is available in their Retirement Online account.
If you did not change your delivery preference to email, your Statement will be mailed by the end of February.
Get Your Statement Online Now
Whether you chose email delivery or not, you can access your Statement in your Retirement Online account now. To view, save or print your Statement:
From your Account Homepage, click the “View My Retiree Annual Statement” button.
Follow the prompts.
If you don’t have an account, you can find step-by-step instructions for registering in the Tools & Tips section of the Retirement Online page.
Inside Your Retiree Annual Statement
Your Statement has a new look this year, but it still contains the same information you receive every year about your benefit amount, deductions and tax withholding. Your Retiree Annual Statement includes:
Your NYSLRS ID. To protect your privacy, use this number instead of your Social Security number when conducting business with NYSLRS.
The total amount of your annual benefit. (This is your base benefit, before taxes, deductions and credits.)
Your total net benefit for the year. (This is your benefit after taxes, deductions and credits.)
Other deductions taken from your pension, such as payments to an alternate payee or union dues.
Health insurance premiums. (NYSLRS doesn’t administer health insurance benefits, but we deduct retiree premiums at the request of your former employer.)
Next Year Don’t Wait for the Mail
Going forward, your Statement will be available online in early February each year.
Update your delivery preference now to receive an email as soon as next year’s Retiree Annual Statement is available online:
From your Account Homepage, click the “update” link next to ‘Retiree Annual Statement by.’
Choose “Email” from the dropdown.
If you choose to receive your Statement by email, you will not receive a printed copy in the mail.
Use Retirement Online to Stay Informed
Your Statement is a snapshot of your NYSLRS account as of December 31, 2023. For the most up-to-date information year-round, sign in to Retirement Online. If you don’t already have an account, you can learn more or register today.
In Retirement Online, you can view pay stubs for your benefit payments. Check them if you have a question or to track year-to-date totals of your pension benefit as well as any deductions for health insurance, union dues, tax withholding or disbursements under a domestic relations order.
Your Statement is Not a Tax Document
While your Retiree Annual Statement does include information about your benefit payments and tax withholding, it is not a tax document. If your pension is taxable, you should have received a 1099-R tax form (either through your Retirement Online account or by mail, depending on your delivery preference) for filing your taxes.
Tax season is approaching, and with 1099-Rs available online, getting this key NYSLRS tax form is now faster and more convenient than ever.
Most NYSLRS pensions are subject to federal income tax (some disability benefits are not taxable). If you receive taxable income from NYSLRS, we provide a 1099-R tax form for filing your taxes. New this year, retirees who opted to go paperless received an email notifying them their 1099-R is available in their Retirement Online account. If you did not change your delivery preference to email, your 1099-R tax form will be mailed to you by January 31.
Understanding Your 1099-R
A 1099-R tax form is used to report the distribution of taxable retirement benefits. It shows:
The total benefit paid to you in a calendar year.
The taxable amount of your benefit.
The amount of taxes withheld from your benefit.
If you have questions about the information on the form, check our interactive 1099-R tutorial. It walks you through a sample 1099-R and offers a short explanation of each box on the form.
Get Your 1099-R Online Now
Whether you chose email delivery or not, you can access your 1099-R in your Retirement Online account now. To view, save or print your 1099-R:
As a NYSLRS retiree, you can work and still receive your pension, but you should be aware there may be a limit on how much you can earn each year without affecting your NYSLRS pension. Whether the earnings limit applies to you depends on:
Whether you receive a service retirement or disability retirement;
Whether you will be working for a New York State public employer, private employer (yourself or other); and
Your age.
Please read the information below carefully to find out more.
Working While Receiving a Service Retirement Benefit
An earnings limit of $35,000 generally applies to NYSLRS retirees who:
Are under age 65;
Receive a service retirement benefit (see disability benefit rules below); and
Return to work for a public employer (including contract or consultant work, if you joined NYSLRS on or after May 31, 1973).
2024 Update Regarding the Earnings Limit
In response to the COVID-19 emergency, NYS executive orders suspended the earnings limit. The last order expired in June 2023. This means for most retirees under the age of 65, the $35,000 limit applies to the entire calendar year starting 2024.
The earnings limit for retirees employed by school districts and Boards of Cooperative Educational Services (BOCES), however, is suspended through June 30, 2024. The earnings limit suspension for school employees does not apply to retirees who work for a college, university or charter school.
There is no earnings limit if you are self-employed or if you work for:
The federal government;
A state or local government in another state; or
A private employer.
Also, beginning in the calendar year you turn 65, the earnings limit no longer applies.
Working While Receiving a Disability Retirement Benefit
Almost all earnings for retirees who are working while receiving a disability retirement benefit are limited whether they work for a public or private employer. The limit is specific to each retiree. To find out your earnings limit, please contact us.
How the Limit Applies
The limit applies to all earnings for the calendar year, including money earned in the calendar year, but paid in a different calendar year (for example earned in December but paid in January).
The limit does not apply to:
Payments received after you retire from your employer, such as for vacation or sick time you earned when you were still working; and/or
A retroactive payment for a new union contract, if the earnings are for employment before you retired.
Reporting Your Earnings
It is your responsibility to notify NYSLRS if you earn more than the limit. If you know you are going to exceed the limit, contact us at least a month before you do.
You can message us using the secure contact form, or you can fax a letter to 518-402-2498. Be sure to include the name of your employer, the approximate date you expect to exceed the limit and a daytime phone number in case we have questions.
If You Exceed the Limit
If you earn more than the limit, you must:
Pay back NYSLRS for the pension payments you received after the date you reached the limit. If you continue to work, your pension will be suspended for the remainder of the calendar year and resume the following January.
OR
Rejoin NYSLRS, in which case your pension will be suspended until you retire again at some future date. (You’d need to reapply.)
Earnings Limit Waiver
Under Section 211 of the Retirement and Social Security Law, the earnings limit can be waived if your prospective employer gets approval before hiring you. Approval is not automatic; it is based on the employer’s needs and your qualifications. In most cases, the New York State Department of Civil Service would be the approving agency. A Section 211 waiver covers a fixed period, normally up to two years.
For More Information
Before you decide to return to work, please read our publication What If I Work After Retirement? It includes information such as how earnings limits are calculated for retirees receiving a disability retirement benefit, consequences to consider before returning to NYSLRS membership and more. If you have questions, please contact us.
Your NYSLRS pension can provide a significant portion of your retirement income, but it’s also a good idea to supplement your pension and Social Security with a retirement savings account.
Retirement savings can be an important financial asset when you retire. Savings can enhance your retirement lifestyle and give you the flexibility to do the things you want. Your savings can provide money for you to travel, continue your education, pursue a hobby or start a business. The money you set aside can also be a resource in case of an emergency, act as a hedge against inflation and boost your retirement confidence.
Set a Retirement Savings Goal
How much to save is a personal decision, but here are some things to consider.
Financial advisers often recommend saving 10 to 15 percent of your gross earnings throughout your career to retire comfortably. However, that advice is aimed at people with 401(k)-style defined contribution retirement plans as their main source of retirement income.
As a NYSLRS member, you’re part of a defined benefit plan, also known as a traditional pension plan. Your pension, based on your years of service and earnings, will provide a lifetime benefit. You can estimate your pension in Retirement Online to get an idea of the income it will provide in retirement.
Having a pension means you may not need to save as much as someone with only a 401(k). Use a retirement savings calculator to see how much a retirement savings plan could yield over time, or test the results of different savings amounts.
Below you can see potential savings results of someone who invests 50 dollars every two weeks over 30 years. While the stock market can be turbulent over the long term, stock market returns average about 10 percent a year.
As you get closer to retirement, you should develop a plan to withdraw money from your retirement savings. A withdrawal plan will give you a better idea of the income you might expect from your nest egg.
Here is one possible withdrawal strategy, which was designed to provide retirement income for 20 years. Please note, if your retirement is far in the future, the money you withdraw may not have the same value that it has today. However, while inflation has been high recently, it does cycle and has been lower in the past.
If you find you’ll need to save more to meet your goal, you can make adjustments to help ensure you’ll have enough savings in retirement.
Deferred Compensation – A Way to Save
State employees and many municipal employees are eligible to save for retirement through the New York State Deferred Compensation Plan. Once you’ve signed up, your retirement savings, which may be tax-deferred, depending on your plan, will be automatically deducted from your paycheck. (The Deferred Compensation Plan is not affiliated with NYSLRS.)
Check with your employer’s human resources or personnel office to see if they participate in the Deferred Compensation Plan or if they offer other savings options.
Read More About Retirement Savings
You can find more information about saving for retirement in these posts:
Retirees, brush up on your Retirement System knowledge!
Get Your 1099-R Tax Form in Retirement Online Starting in 2024, your 1099-R tax form will be available in Retirement Online! Get yours faster and help us ‘go green’ — update your delivery preference now to receive an email when it’s ready, instead of waiting for it in the mail. (If you choose to receive your 1099-R by email, you will not receive a printed copy in the mail. Regardless of your delivery preference, you will be able to view and print your 1099-R by signing in to Retirement Online at the end of January.)
Change Your Federal Tax Withholding in Retirement Online Retirement Online is the fastest way to update your withholding. Changes submitted by the middle of the month will generally appear in that month’s payment. Most NYSLRS pensions are subject to federal income tax (some disability benefits are not taxable).
Not Taxed by New York State Your NYSLRS pension is not subject to New York State or local income taxes. Visit our Taxes and Your Pension page for more information. If you move to another state, your pension may be subject to that state’s income tax. If you’re thinking of moving to another state, check with that state’s tax department.
Get Your Retiree Annual Statement in Retirement Online Starting in 2024, you can use Retirement Online to view and print your annual statement. Help us go green and update your delivery preference to receive an email when it’s available, instead of waiting to receive it in the mail.
Manage Your Direct Deposit in Retirement Online Use Retirement Online to securely update your direct deposit bank account information. Whether you’ve switched banks or need to move your deposits to a different account, you can make those changes quickly with Retirement Online. Changes are generally applied within one to two payments. You can find out when your next pension payment is coming by checking our online pension payment calendar.
Prove Your Pension Income Using Retirement Online You may need proof of your retirement income for housing or as part of an application for the Home Energy Assistance Program (HEAP). With Retirement Online, you can print or save an income verification letter any time you need one.
Receiving Your Annual Cost of Living Increases Once you become eligible for a cost-of-living adjustment (COLA), you will receive a permanent increase to your pension amount every September. When your net benefit amount changes, NYSLRS will inform you.
View Your Pension Payment “Pay Stub” in Retirement Online Sign in to Retirement Online to access full pay stubs for your pension payments. Select the date of the payment you want to review to see a breakdown of your pension payment, including your most recent COLA amount as well as any deductions made for health insurance, union dues, tax withholding or disbursements under a domestic relations order.
You May Leave a Death Benefit Your survivors may be entitled to a death benefit after you die. Retirement Online makes it easy for eligible retirees to view their beneficiary selections, choose different beneficiaries or change contact information for an existing beneficiary. Anyone can report the death of a retiree by using our online death report form.
Best-Funded, Best-Managed The New York State Common Retirement Fund holds and invests the assets of NYSLRS on behalf of members, retirees and their beneficiaries and continues to be one of the best-funded and best-managed public pension funds in the nation. Comptroller Thomas P. DiNapoli is the administrative head of NYSLRS and trustee of the Common Retirement Fund.