A Look Inside NYSLRS

NYSLRS paid $12.74 billion in benefits to 481,795 retirees and beneficiaries during the State fiscal year that ended on March 31. These benefits are paid out through the New York State Common Retirement Fund (the Fund).

The Fund was valued at $210.5 billion at the end of the fiscal year. The average return on Fund investments was 5.23 percent for the year.

A Look inside NYSLRS

NYSLRS Membership

But NYSLRS is more than just the pension fund. The system had 658,176 members as of March 31, including county workers, professional firefighters and State troopers. Here are some facts about them:

  • NYSLRS’ 533,610 active members (that is, members still on a public payroll) work for 3,020 public employers statewide.
  • One-third of those active members work for New York State. The rest work for counties, cities, towns, villages, school districts and public authorities.
  • Nearly 94 percent of active members are in the Employees’ Retirement System (ERS). The Police and Fire Retirement System (PFRS) accounts for 6 percent of NYSLRS membership.

Nearly 39 percent of all NYSLRS members are in Tier 6. (But more than 62 percent of PFRS members are in Tier 2.)

NYSLRS Retirees and Beneficiaries

The average pension for an Employees’ Retirement System (ERS) retiree was $24,345; the average for a Police and Fire Retirement System (PFRS) was $52,804. But NYSLRS pension payments don’t just benefit the system’s retirees and beneficiaries. Because 79 percent of NYSLRS retirees and beneficiaries live in New York, $10.3 billion worth of benefits stayed in the State. And that money supported local businesses, paid local taxes and generated economic development statewide.

An Award-Winning Publication

Extensive information about NYSLRS members and retirees, the Fund, and Fund investments can be found in the 2019 Comprehensive Annual Financial Report (CAFR). NYSLRS received a Certificate of Achievement for Excellence in Financial Reporting for the 2018 CAFR. The Certificate of Achievement is a national award recognizing excellence in the preparation of state and local government financial reports. NYSLRS has won this award for the last 15 years.

13 thoughts on “A Look Inside NYSLRS

    1. NYSLRS

      We’re sorry; the NYSLRS social media team doesn’t have access to your retirement account information.

      To get the information you need, please email our customer service representatives using our secure email form. One of our representatives will review your account and respond to your questions. Filling out the secure form allows us to safely contact you about your personal account information.

      Reply
  1. Jeffrey Windsor

    I’m so happy the NYS constitutional convention didn’t pass! I don’t trust our State Governor. He’d want to try and borrow and never payback.

    Reply
  2. Kelly Scharfer

    I have been waiting over 2yrs for a article 15 disability!!!! I PERSONALLY continued to send in all my medical documents.Paying $2,000 month for health insurance waiting for a determination. Unnecessary financial burden on a 20 year vested employee,who was terminated under sec 71 civil service law.for not being able to perform job duties!!!! How could this be acceptable?? If 1 health insurance payments is missed its forfeited for life seems that is what there trying to do to me!!!!! If they would of sent me a denial, i would of appealed it, Appeals have to be within 4 months, NYS does NOT care about there employees past or present!!!!! BEAWARE

    Reply
    1. NYSLRS

      We’re sorry for the trouble you’re having. If you have questions about the specifics of your disability case, please contact your case examiner. If you don’t know your case examiner’s phone number, you can email our customer service representatives using the secure email form on our website (http://www.emailNYSLRS.com). One of them will review your account and respond to your questions. Filling out the secure form allows us to safely contact you about your personal account information.

      Reply
  3. Kelly Schaefer

    I have been in contact with my examiner over 2 years of my life as well as supervisors, Have written numerous letters to medical Board, Secretary of medical Board Ronald J Perry, ALL WITH SAME RESPONSE, STILL IN DETERMINATION PROCESS!!!! Why and How is this possible ITS NOT IF THERE DOING THERE JOB!!! The Comptroller should look into the competency of his medical board, for them to have over 2 years of medical records and can Not make a determination is obscured,waste of time and tax payers MONEY!!!!!!!!!!!!!!!

    Reply
  4. Edward H Reel

    I have just joined the retirement system I applied for 3 yrs service time I got approved I paid for 3 yrs my account says I got 2.37 yrs . How is that possible .

    Reply
    1. NYSLRS

      For account-specific information, please email our customer service representatives using the secure form on our website (http://www.emailNYSLRS.com). One of our representatives will review your account and respond to your questions. Filling out the secure form allows us to safely contact you about your personal account information.

      Reply
  5. Gary Frattali

    My father retired from the system 27 years ago. He passed away in July. I notified the system and was informed that my mother, his listed beneficiary, would start receiving her checks in 6 months! They have to “verify” the beneficiary. Ridiculous. They did that 27 years ago to determine my father’ payments. My mom passed away in January. She didn’t live long enough to see the first disbursement. The estate has not seen it either.
    Make sure your beneficiaries have enough cash to sustain them for at least a year.

    Reply
    1. NYSLRS

      We’re sorry for your loss and for the trouble you are having with your father’s retirement benefits. Your message is important to us and we have sent you an email in response.

      Reply
  6. Maria

    What happens if you leave your job and have 10.35 credits. What happens to your pension and how much will you get when its time to collect

    Reply
    1. NYSLRS

      Once you reach 10 years of service credit, you are considered vested. This means that you have earned enough service to qualify for a retirement benefit, even if you leave public employment before you are old enough to retire. Once you reach the minimum retirement age for your tier and retirement plan, you can apply for your pension benefit. You can estimate what your potential benefit could be using Retirement Online. Your Retirement Online estimate uses the salary and service information we have on file for you, and you can enter different retirement dates to see how your choices affect your potential benefit. For more information, please read our publication, Life Changes: What If I Leave Public Employment?

      Reply

Leave a Reply