Overview

The New York State and Local Retirement System (NYSLRS) administers two distinct retirement systems. They are:

• The Employees’ Retirement System (ERS)
• The Police and Fire Retirement System (PFRS)

Member Information

(as of March 31, 2024)

Overall membership in NYSLRS: 1,236,057

• 713,802 members (74% of members are active—reported on the payroll of a participating employer as of fiscal year end)
  • 677,604 (95%) of members are ERS (73% of ERS members are active)
  • 36,198 (5%) of members are PFRS (91% of PFRS members are active)
• 476,770 retirees
• 45,485 beneficiaries

ERS

(as of March 31, 2024)

• Average salary: $61,754
• Average pension for all ERS retirees and beneficiaries: $27,870
• Average pension for new ERS retirees: $31,985
• Tiers of membership
  • Tier 1 joined before July 1, 1973 (0.1% of members)
  • Tier 2 joined between July 1, 1973 and July 26, 1976 (0.1% of members)
  • Tier 3 joined between July 27, 1976 and August 31, 1983 and
    Tier 4 joined between September 1, 1983 and December 31, 2009
    (33.1% of members are in Tiers 3 & 4)
  • Tier 5 joined between January 1, 2010 and March 31, 2012 (4.1% of members)
  • Tier 6 joined on or after April 1, 2012 (62.6% of members)

PFRS

(as of March 31, 2024)

• Average salary: $129,323
• Average pension for all PFRS retirees and beneficiaries: $62,391
• Average pension for new PFRS retirees: $87,379
• Tiers of membership*
  • Tier 1 joined before July 31, 1973 (total of just 10 members)
  • Tier 2 joined between July 31, 1973 and June 30, 2009 (38.7% of members)
  • Tier 3 joined between July 1, 2009 and January 8, 2010 (0.3% of members)
  • Tier 5 joined between January 9, 2010 and March 31, 2012 (5.0% of members)
  • Tier 6 joined on or after April 1, 2012 (56.0% of members)

*There is no Tier 4 in PFRS.

Benefits Paid and Contributions

(for State fiscal year end March 31, 2024)

• Benefits paid out: $16.1 billion
• Employer contributions: $5.1 billion
  • State government contributions: $1.8 billion
  • Local government contributions: $3.2 billion
• Member contributions: $788.8 million

Employers

(as of March 31, 2024)

• Nearly 3,000 employers participate in NYSLRS.
• Approximately 31% of active members are state employees, 32% are local government employees and 22% are school district employees. Employees of state and local public authorities and other governmental corporations make up the remaining members.

Rev. 9/24