Normally, most NYSLRS retirees who return to work for a public employer face an earnings limit. Under Section 212 of the Retirement and Social Security Law, most NYSLRS retirees under age 65 who return to work for a public employer can earn up to $35,000 per calendar year without penalty. The limit includes all earnings for the calendar year, including money or retroactive payments earned in the calendar year but paid in a different calendar year. If a retiree exceeds the earnings limit and continues to work, their pension benefits are suspended for the remainder of the year.
However, executive orders and new legislation have temporarily suspended the earnings limit for retirees who returned to work during the COVID-19 emergency.
Earnings Limit Suspended through June 30, 2023 for School Districts and BOCES
The state budget for fiscal year 2022-2023 included legislation that temporarily suspends the earnings limit for retirees employed by school districts and Boards of Cooperative Educational Services (BOCES). Under this legislation, post-retirement earnings with a school district or BOCES will not count toward a retiree’s annual earnings limit through June 30, 2023.
The new law means that for retirees working for school districts or BOCES, the limit is eliminated through the end of the school year 2022-23. This extension does not apply to universities, colleges or charter schools.
Earnings Limit Suspended through June 29, 2022 for Other Public Employers
Since the start of the COVID-19 emergency, governors have issued executive orders temporarily suspending the retiree earnings limit. Under the executive orders, post-retirement earnings with a public employer will not count toward a retiree’s annual earnings limit during the following time periods:
January 1, 2022 through June 29, 2022.
January 1, 2021 through June 24, 2021, and September 27, 2021 through December 31, 2021.
March 27, 2020 through December 31, 2020.
If the order is extended beyond June 29, 2022 we will update this blog post. For general information about post-retirement employment, please read What If I Work After Retirement.
Under normal circumstances, NYSLRS won’t release your benefit information – even to close family members – without your permission. However, if we have an approved copy of your power of attorney (POA) form on record, we can discuss your information with the person you named as your agent in your POA.
For example, your agent could ask for details about your pension payments, get help completing a loan application or call us for clarification if you don’t understand a letter you received.
Your agent could be your spouse, another family member or a trusted friend. You may designate more than one person as your agent, and you may authorize those agents to act together or separately. You may also designate “successor agents” to act on your behalf if the primary agent is unable or unwilling to serve.
A POA form may be filed with NYSLRS at any time, so there’s no need to wait until a “life event” happens to file. With a POA already on record, the designated agent can act immediately in case of emergency, hospitalization or unexpected illness.
What Can Agents Do?
The agent named in your POA is authorized to act on your behalf and conduct business with NYSLRS for you.
Agents can file applications and forms, such as service or disability retirement applications. They can get account-specific benefit information, request copies of retirement documents, update addresses and phone numbers, and take out loans. For retirees, agents can change the amount withheld from your pension for taxes.
If you use the NYSLRS POA form, and your agent or successor agent is your spouse, domestic partner, parent or child, they have “self-gifting authority.” That means they can designate themselves as a beneficiary of your pension benefits or, if you are not yet retired, choose a retirement payment option that provides for a beneficiary after your death and designate themselves as a beneficiary for that benefit.
If your agent or successor agent is not your spouse, domestic partner, parent or child, they do not automatically have self-gifting authority. If you want them to be able to designate themselves as beneficiaries, you should indicate that in the Modifications section of the POA. You should identify your agent by name and specify the authority you want granted to them.
It’s important to note that the NYSLRS POA form only covers Retirement System transactions. It does not authorize an agent to make health care decisions or changes to a Deferred Compensation plan.
Changes to the POA Law
The law governing POA requirements was changed effective June 13, 2021. Any POA executed on or after that date must comply with the following requirements (the NYSLRS form complies with the requirements):
All POAs must be signed by two disinterested witnesses (witnesses who are not listed as an agent in the POA or named in the POA as a person who can receive gifts).
The use of a Statutory Gift Rider to grant gifting authority has been eliminated. If you do not use the NYSLRS POA form and instead submit a separately prepared Statutory POA form, gifting authority, even for a close family member, must be granted in the Modifications section of the POA. (See our Power of Attorney page for details.)
If you have an approved POA on file with NYSLRS, you do not need to send a new one. POAs executed before June 13, 2021, will be reviewed in accordance with the laws in effect at the time. POAs executed on or after June 13, 2021, that use an old POA form or do not comply with other requirements of the new law will not be valid.
You can also mail your POA (original or photocopy). You may wish to mail it certified mail, return-receipt requested, so you know when NYSLRS receives it. Mail it to:
NYSLRS 110 State Street Albany, NY 12244-0001.
Find Out More
A power of attorney is a powerful document. Once you appoint someone, that person may act on your behalf with or without your consent. We strongly urge you to consult an attorney before you execute this document.
You may revoke your POA at any time by sending us a signed, notarized statement.
COVID-19 has resulted in tens of thousands of deaths across New York State. Sadly, the pandemic’s victims include NYSLRS members who carried out their essential duties despite personal risk.
The families of these selfless members can take some comfort in knowing that they may be eligible for enhanced death benefits. A new law provides certain beneficiaries of public employees who contract COVID-19 on the job and die from COVID-19 with an accidental death benefit.
Most NYSLRS members are eligible for a death benefit if they die while in service; this “ordinary death benefit” provides a member’s designated beneficiary or beneficiaries a single, lump sum payment, worth up to three years’ salary. Alternatively, an “accidental death benefit” may be available to certain beneficiaries if the member’s death is a result of an on-the-job accident. The NYSLRS accidental death benefit is a pension paid to beneficiaries that are defined in statute, first to a surviving spouse, if no spouse to dependent children, then to dependent parent(s).
Generally, the accidental death benefit is equal to 50 percent of the member’s final average salary or last year’s salary depending on the retirement plan the member is enrolled in. You can find your retirement plan information on our Publications page. In addition to the accidental death benefit, a special accidental death benefit may also be payable to a member of the New York State and Local Police and Fire Retirement System.
“This new law is an important step toward protecting public workers who are on the front lines fighting the coronavirus and helping their communities,” said New York State Comptroller Thomas P. DiNapoli. “If something happens to them, they deserve their retirement benefits and the peace of mind that their families are provided for.”
A NYSLRS member’s statutory beneficiary would be eligible for the accidental death benefit if the member:
Worked at either their normal workplace or another assigned workplace, not their residence, as directed by their employer, on or after March 1, 2020;
Contracted COVID-19 within 45 days of the last day that the member reported for work;
Died on or before December 31, 2022; and
Died from COVID-19 or COVID-19 caused or contributed to their death.
The COVID-19 benefit also applies to members who were working as of March 1 but retired prior to July 1, 2020. If the retiree met the eligibility requirements, contracted COVID at work or within 45 days of last reporting to work, and died after retiring, but on or before December 31, 2020, their statutory beneficiary has the option of converting the service retirement benefit or disability retirement benefit to an accidental death benefit.
The COVID-19 benefit is available for all NYSLRS members (Employees’ Retirement System as well as Police and Fire Retirement System members), regardless of job title, or tier.
How to Claim the Benefit
When someone calls NYSLRS to report a death, they should let us know it was COVID-related. We’ll also ask for an original death certificate. We will then reach out to the beneficiary to assist them in claiming the benefit. For the COVID-19 death benefit, NYSLRS will confirm with the employer the dates that the member reported to work and request the required documentation showing COVID-19 as the cause of death. The COVID-19 death benefit will be reduced by any ordinary death benefits paid out to a beneficiary by NYSLRS.
During this time of crisis, it’s important to be on the alert for those who would attempt to defraud you or your family. Here are some consumer warnings and safety tips from the Federal Trade Commission:
Ignore offers for vaccinations and home test kits. Scammers are selling products to treat or prevent COVID-19 without proof that they work.
Be wary of ads for test kits. Most test kits being advertised have not been approved by the FDA, and aren’t necessarily accurate.
Hang up on robocalls. Scammers are using illegal robocalls to pitch everything from low-priced health insurance to work-at-home schemes.
Beware of emails claiming to be from the Centers for Disease Control (CDC) or the World Health Organization (WHO).
Do your homework when it comes to donations. Never donate in cash, by gift card or by wiring money.
Reliable Sources of COVID-19 Information
Only rely on trusted sources for information about COVID-19. Don’t click on links from sources you don’t know. Here are some good online sources:
If you are a victim of fraud, the New York Department of State’s Division of Consumer Protection may be able to help. You can call their Consumer Helpline at 1-800-697-1220 or visit their website.
The National Center for Disaster Fraud, which is part of the U.S. Department of Justice, is the federal agency responsible for investigating and prosecuting fraud schemes related to natural and man-made disasters. Call 1-866-720-5721.
You can report allegations of fraud involving New York State taxpayer money to the Office of the New York State Comptroller. Call 1-888-672-4555 or report government fraud online.
Unfortunately, the economic impacts of the COVID-19 pandemic have resulted in record growth in unemployment. If you are a NYSLRS member who finds yourself out of work or furloughed (on an authorized leave of absence or temporarily laid off), you may find the following information helpful.
What Happens to Your NYSLRS Loan?
If you have an outstanding NYSLRS loan and are furloughed from your job, you can defer payments until you go back to work, provided you return to work within one year.
You still must repay your loan within the original five-year repayment period. When you return to work, your loan will be recalculated and your minimum payment will be increased to ensure your loan balance is paid off on time. Interest will still accrue during the deferment, and the added interest will be included in the recalculation.
In order to receive this deferment, you must have your employer send a fax to us (518-486-9877), on their letterhead, indicating the date your furlough began and when they predict it will end.
If you leave public employment and are not yet ready to retire, you may want to read our booklet What If I Leave Public Employment?This booklet describes your rights as a NYSLRS member and tells you how to claim any benefits you are entitled to when it comes time for you to retire.
We’ve compiled on our website a number of articles and updates about the COVID-19 emergency that you may find helpful. Here you will find information about enhanced death benefits for survivors of COVID-19 victims, filing for retirement benefits during the pandemic and what you can do to protect your loved ones if you become seriously ill.
As the COVID-19 emergency continues, many of us are staying home and practicing social/physical distancing to reduce the spread of the virus. Staying home is especially important if you are an older adult, have a chronic health condition, or are immunocompromised.
Many banks have closed or limited the open hours of their branch locations, and are encouraging their customers to use online banking. Online banking allows you to monitor your account balances and pay bills from home. Certain mobile banking features can also allow you to deposit checks using a smartphone. Visit your bank’s website or call your bank’s customer service line to see what services are available.
This is also a good time to arrange for the direct deposit of incoming funds (such as your NYSLRS pension or your paycheck) to your bank account.
If your bank offers a drive-thru or walk-up ATM, the CDC recommends that you clean the ATM keyboard or screen with an antiseptic wipe before using it, and to wash your hands thoroughly after making transactions.
Online Grocery Shopping and Special Shopping Hours
Depending on where you live, your local grocery chain may offer online shopping. Visit your grocery store’s website to see what services are available. They may offer home delivery, where a delivery driver can leave your groceries at your door, or curbside pick-up, where you can pick up your order without needing to leave your car.
Your grocery store may also offer special shopping hours for older or other at-risk customers. If you are unable to place an online order, visit the store’s website or call ahead to see if there are special hours.
Virtual Doctor Appointments
Appointments with your doctor are important to keep, but in some instances, you or your doctor may want to postpone upcoming appointments for you or members of your family. Fortunately, some offices are now offering telemedicine visits as an alternative to in person appointments. Telemedicine visits can take the form of phone calls or video chats with your doctor or another healthcare professional. Visit your doctor’s office website or call ahead to see if this option is available to you.
Your health insurance company may also offer some information about telemedicine. Here are several New York health insurance providers who offer telemedicine resources:
If your doctor wants you to come to the office, be sure to ask about and follow any safety measures they’ve put into place. These safety measures are meant to protect you and your family, medical staff, and other patients.
And Your Pets Too!
Your pets may have medical appointments of their own to keep. Call your veterinarian to see if and how they are accepting pets or prescribing medicine during this time. In some instances, they may ask you to stay in the car while they take your pet inside for treatment.
Stay in touch with what your local community is doing during the COVID-19 emergency. You can check community websites, social media groups, and local news outlets to see what services are being offered to seniors or at-risk adults. Other community resources, like reputable volunteer organizations, may also be available to assist you.
Unfortunately, as the COVID-19 emergency continues, police and healthcare professionals are reporting an increase in domestic violence. With many of our one million NYSLRS members and retirees now being asked to stay home, we want to help keep you safe. If you are in an abusive relationship, or fear your situation may turn violent, there is help.
You don’t have to stay in a dangerous environment. Safe shelter is available.
Here are some resources:
Because abuse victims are often closely watched by their abuser, New York State has launched a new texting program and confidential service to help New Yorkers experiencing domestic violence.
Text 844-997-2121 or visit www.opdv.ny.gov to confidentially chat with a professional at any time of day or night.
New York State Domestic Violence Hotline
Crisis Text Line: Text “Got5” to 741-741.
National Domestic Violence Hotline
TTY 1-800-787-3224 (for the deaf or hard of hearing)
The COVID-19 pandemic has caused economic uncertainty as well as a public health emergency. Businesses are struggling, more people are unemployed, and markets are volatile. Yet among all the uncertain news we seem to hear daily, there is something NYSLRS members and retirees can have confidence in: your Retirement System and pension fund are strong and secure.
Since it was established in January 1921, NYSLRS has proven its strength and durability. Over the past century, the Retirement System has weathered the Great Depression of the 1930s, the Dotcom bubble burst of 2001, the Great Recession of 2008-2009 and more than a dozen other economic downturns. Each time, NYSLRS recovered and emerged stronger than before.
Investing for the Long Term
The New York State Common Retirement Fund, which holds and invests the Retirement System’s assets, has been impacted by this largely unprecedented crisis, but the Fund remains strong. While weighing the risk and benefit of every investment, the Fund employs a diversified investment strategy that is designed for the long-term, allowing it to take advantage of growth opportunities in good times, which helps it to better navigate through hard times.
NYSLRS entered the current crisis in a position of strength. Independent analysts, such as the Pew Charitable Trusts, have long recognized NYSLRS as one of the best-managed and best-funded public retirement systems in the nation. The strength of the Fund provides stability and enhances its ability to recover from market swings.
In recent months, before the COVID-19 outbreak, the Fund’s professional managers recognized increased volatility in the stock market. The managers made adjustments in the Fund’s investment portfolio in preparation for an expected economic downturn and are actively managing the Fund through these difficult times. The Fund has more than enough assets to pay retiree benefits.
What This Means for You
New York State Comptroller Thomas P. DiNapoli has a fiduciary responsibility to manage the Fund’s assets on behalf of NYSLRS members and retirees. Protecting the Fund is the Comptroller’s number one priority. As a NYSLRS member or retiree, your lifetime retirement benefits are guaranteed by the State constitution, and those benefits cannot be diminished.
NYSLRS continues to be well-positioned to meet both its short-term and long-term obligations. If you are already retired, you will continue to receive your pension payments on schedule. If you are a member, your pension will be there for you when you retire and throughout your retirement years.
We’ve faced similar challenges in the past. We will get through this one.
The 15-day waiting period for a NYSLRS member’s retirement to take effect has been temporarily waived by a governor’s executive order. The waiver, which was requested by Comptroller DiNapoli, is designed to protect families who may lose a loved one to COVID-19 before a member’s retirement is official.
Under the waiver, if you plan on filing for retirement through July 5, 2021, you can choose a date of retirement less than 15 days away.
Members seeking to service retire should also choose a pension payment option. This is especially important if you wish to name a beneficiary to receive a pension benefit in the event of your death.
Eligible members can file for retirement, choose a date of retirement as early as the next day, and upload retirement-related documents using Retirement Online.
If you choose to file a paper retirement application, you can choose a specific retirement date, or enter “ASAP” and your date of retirement will be the day after your filing date. Find more information about filing for retirement (online or by mail) in our recent blog post, Retirement Online Makes Applying for Retirement Fast, Easy.
A member may withdraw their service retirement application up until the day before they retire.
The waiver will also be effective for members who filed after March 7, 2020 and died due to COVID-19. If these members selected a pension payment option that provides a continuing pension benefit for a beneficiary after their death, and they died of COVID-19, their beneficiary will receive the monthly benefit under the pension payment option that the member chose.
“Many government workers are battling the coronavirus in their communities every day,” New York State Comptroller Thomas P. DiNapoli said. “God forbid something should happen to them before their retirement becomes effective. Waiving the waiting period after filing for service retirement benefits ensures their families will get the benefits that were intended for them. My thanks to Governor Cuomo for acting on our request and taking steps to protect our heroic state and local workers and their families in these tough times.”
The executive order waives the legal requirement that a NYSLRS member’s retirement application be received by the Office of the State Comptroller at least 15 days before their retirement date.
To be eligible for a service retirement benefit, a vested NYSLRS member must be at least 55 years old, unless they are in a special plan that allows retirement after 20 or 25 years regardless of age. For details about NYSLRS service retirement benefits and death benefits, please check your retirement plan booklet, which you can find on our Publications page.
The unfortunate reality of the COVID-19 emergency is that some NYSLRS members may become seriously ill and some may die from the disease. That is why it is vitally important that members understand how to apply for retirement benefits, if they need to take that step.
NYSLRS members who become seriously ill from COVID-19 may wish to file for a disability retirement benefit so their beneficiary may be eligible for a continuing pension, rather than a one-time in-service death benefit, if the member dies.
or their employer on their behalf, need to file the disability
retirement application that is appropriate for them according to their
Please visit our Disability Benefits page and select “Find Your Application” to help you find the right application. Additionally, the member, or the member’s spouse, should file a pension payment option election form to identify a beneficiary to receive the continuing benefit. An option election form cannot be filed by the employer. A continuing benefit cannot be paid to a beneficiary unless we receive an option election form.
Applications and option election forms can be emailed directly to NYSLRS’ Disability Processing Unit. If the member dies after applying, the disability retirement application would be effective upon death. If the member recovers, he or she would be allowed to withdraw the disability retirement application.
Eligible members may also file for a service retirement. However, a service retirement cannot be canceled if your retirement date has passed. You can file a disability and a service retirement application at the same time. Service retirements can be filed electronically using Retirement Online.
Please call our Contact Center at 866-805-0990 if
you have questions.