Employer Annual Invoice


You can view your annual invoice in Retirement Online. We provide your annual invoice at the beginning of November each year. If you have the Billing security role, we notify you when your annual invoice is available. Only employees with the Billing security role can access employer billing information in Retirement Online.

The total “Payment Due” amount shown on the invoice you receive in November 2023 is due by February 1, 2024. Late payments are subject to interest. For the invoice due by February 1, 2024, the interest rate is 5.9 percent.

You can choose to pay the discounted “Prepayment” amount, also shown on your invoice, by December 15, 2023. Payment must be received on or before the due date to be considered on time and eligible for the discount. Payments received after the December 15 date must be for the full amount due by February 1, 2024.

You can pay your invoice faster and more reliably using the Automated Clearing House (ACH) or by wire transfer. Paying electronically, rather than mailing a check, helps to ensure that your payment is received on time.

Your current annual invoice will be available in Retirement Online until next summer when we release your estimate for the invoice due in 2025. At that time, your current annual invoice will become a previous year’s invoice. You may still view it, as well as all your past invoices going back to 2013. Click “Previous Years’ Annual Invoices” in the ‘Statements’ area of the Billing Dashboard.


How to View Your Annual Invoice

To view your annual invoice:

  • Sign in to your Retirement Online account.
  • From your Account Homepage, click the “Access Billing Dashboard” button.
  • After choosing your location code and retirement system (ERS or PFRS), click the “Annual Invoice” link.

Retirement Online works best with Google Chrome or Microsoft Edge. If you use a different browser, your information may not display properly, or you may experience other problems.


Understanding Annual Invoice Terms

Adjustments and Installments: On your annual invoice, adjustments represent costs other than regular pension contributions, such as charges or credits associated with other fiscal years. Installments include amortization payments, past service costs and deficiency contributions.

Divide-by Factor: This represents the 45 days of interest that you will save if you pay your annual invoice by December 15, 2023, instead of February 1, 2024. The amount changes with the interest rate.

Group Term Life Insurance (GTLI): This provides ordinary death benefits for your employees. It is separate from the regular pension contributions because it is excluded from the calculation of the amount that may be amortized.

Options: These are “extra” benefits (beyond those offered in the standard plans) that employers can choose to provide to employees. For example, options 41-j for ERS and 341-j for PFRS, refer to Sections 41(j) and 341(j) of the Retirement and Social Security Law (RSSL), which allow members to receive additional service credit for their unused, unpaid sick leave at retirement.


How to Pay Your Annual Invoice

You can pay your invoice using the Automated Clearing House (ACH), by wire transfer or paper check.

A payment coupon is provided on your invoice.

Identifying Information

Regardless of which payment method you choose, before making your payment, it is very important that you email NYSLRS Billing at [email protected] with the following information:

  • Your 5-digit employer location code;
  • Retirement system (ERS or PFRS);
  • Employer name;
  • The amount you are paying; and
  • The annual invoice year that this payment is for (for example, February 1, 2024).

ACH or wire payments must be set up in advance and can take up to two business days to process. Please keep this in mind if you are trying to meet either the December 15 or February 1 payment deadline. Check with your bank on the timing if you are not familiar with the process.

Pay by Automated Clearing House (ACH)

ACH is an electronic network for financial transactions in the United States that processes large volumes of credit and debit transactions. It is the same system used by banks. ACH is secure, less costly than wiring money, and faster and more reliable than mailing a check.

  • Your invoice provides who the payment should be made out to.
  • The close of business for ACH payments is 3:00 pm. Payments received after 3:00 pm will be credited the next business day.

Pay by Wire Transfer

Your invoice provides who the wire payment should be made out to.

Pay by Paper Check

Please include your identifying information listed above with your check, make it out to the New York State and Local Retirement System, and mail it to:

            110 State St
            Albany, NY 12244-0001

If you mail your check by Certified Mail, we will consider it as having been received on the same date it was mailed once it is delivered to us by the Post Office. If you don’t use certified mail, we’ll use the date your check is received as your payment receipt date.

Amortizations and Graded Payments

The Contribution Stabilization Program (CSP) and Alternate Contribution Stabilization Program are optional programs that allow employers to pay a portion of their annual pension contributions when due and to pay the remainder over time with interest. The programs established a graded contribution rate system.

Each year, the System graded rate will increase or decrease depending on the difference between the System average rate and the previous graded rate. Under the CSP, the rate moves by up to 1 percent. Under the Alternate Program, the rate moves by up to 0.5 percent.

When the Retirement System’s average contribution rates are higher than an employer’s graded rate, employers who have elected to participate in the CSP or the Alternate Program are eligible to amortize a portion of their invoice. In these circumstances, your invoice provides the maximum amount you may amortize. Your invoice also shows the repayment installment on any previously amortized amounts.

When the Retirement System’s average contribution rate drops below the employer’s graded rate, employers who have opted into one of these programs are required to pay an additional graded payment to offset future increases in their graded rate. If you are going to be required to make a graded payment when you pay your annual invoice, it will be listed under the Adjustments section of your invoice as an “Employer Graded Payment.”

If you are thinking about participating in the CSP, please read about how the Contribution Stabilization Program works. If you want to participate in the program for the first time, you must complete an authorization form, which will be available with your annual invoice.


If You Need Help

If you have questions about your annual invoice or for help accessing Retirement Online, such as password resets, call 866-805-0990 and press 1 to access the employer menu, then follow the prompts.

You can also use our help desk form and select “Employer Billing” or “Retirement Online Troubleshooting” from the dropdown menu.


Rev. 11/23