If you’re a NYSLRS retiree and received benefits in 2019, your Retiree Annual Statement should be coming in the mail soon, if you haven’t received it already.
The Retiree Annual Statement provides important information about your retirement account. You should keep your copy in a safe place.
What’s Inside Your Retiree Annual Statement
Your annual statement includes:
- Your retirement number. To protect your privacy, use this number instead of your Social Security number when conducting business with NYSLRS.
- Your monthly benefit before taxes, deductions and credits.
- Your total net benefit for the year. (This is your benefit after taxes, deductions and credits.)
- The total amount of any cost-of-living adjustment (COLA).
- Your total Medicare credits (if eligible).
- Federal tax withholding and other deductions taken from your pension, such as union dues.
- Health insurance premiums. (NYSLRS doesn’t administer health insurance benefits, but we deduct retiree premiums at the request of your former employer.)
Not a Tax Document
While your Retiree Annual Statement includes information about your benefit payments and tax withholding, it is not a tax document and should not be used for filing your federal income tax return. NYSLRS mailed 1099-R tax forms to retirees and beneficiaries in January.
If you need a reprint of your 2019 1099-R to file your taxes, you can order one online. Reprints will be mailed to the address we have on file for you, so if you’ve moved recently, you should check to make sure your contact information is up to date before requesting a reprint. The fastest way to check and update your address is with Retirement Online. From your account homepage, you can also let us know how you would like to receive information from NYSLRS by choosing your correspondence preference.
News & Notes, our semiannual newsletter, will be included with your Retiree Annual Statement. The newsletter will help you keep up with the latest news about NYSLRS and other topics of interest.
Your Statement provides a snapshot of your NYSLRS account as of December 31, 2019, but you can get up-to-date information by signing in to Retirement Online. If you don’t already have an account, you can learn more or register today.
NOTE: when there is a change in your net benefit amount, NYSLRS will notify you by mail or email.