NYSLRS provided pension benefits to more than 500,000 retirees and beneficiaries during the State fiscal year that ended on March 31. These benefits are provided by the New York State Common Retirement Fund (the Fund).
State Comptroller Thomas P. DiNapoli is administrative head of NYSLRS and trustee of the Fund. It is widely recognized as one of the best-managed and best-funded public retirement funds in the nation.
But NYSLRS is more than just the pension fund. The system serves more than 685,000 members as of March 31. Here are some facts about our membership:
- 506,084 active members (that is, members still on the public payroll) work for 2,972 public employers statewide.
- About 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 total active members are in the Employees’ Retirement System (ERS). The Police and Fire Retirement System (PFRS) accounts for 6 percent of total active membership.
- More than 50 percent of all Retirement System members are in Tier 6.
- In ERS, 54 percent of members are in Tier 6, while 40.5 percent are in Tiers 3 and 4.
- In PFRS, 45 percent of members are in Tier 6, while 48 percent are in Tier 2.
NYSLRS Retirees and Beneficiaries
The average pension for an ERS retiree was $26,467 as of March 31, 2022; the average for a PFRS retiree was $58,522. But these pension payments don’t just benefit the System’s retirees and beneficiaries. Seventy-nine percent of retirees and beneficiaries stay in New York and generate billions of dollars in economic activity across the state. Their spending supports local businesses, contributes to local taxes and creates jobs in our communities.
Learn More About NYSLRS
Extensive information about our members and retirees, the Fund and Fund investments can be found in the 2022 Annual Comprehensive Financial Report. This report includes detailed information about the Fund’s investments, strategies and financial position. It also provides details about NYSLRS’ 1.19 million members, retirees and beneficiaries.