Retiree Annual Statement

Your Retiree Annual Statement provides important benefit and payment information for the last calendar year. New this year, Statements are available in Retirement Online and will continue to be made available online sooner than printed copies are mailed. (Statements will be available online at the beginning of February each year; printed copies will be mailed by the end of February.)

 


Get Your Statement Faster with Retirement Online

 


Update Your Delivery Preference to Get Notified When Your Statement is Available

  • Sign in to Retirement Online.
  • From your Account Homepage, click the “update” link next to ‘Retiree Annual Statement by.’
  • Choose “Email” from the dropdown.

If you choose to receive your Statement by email, you will not receive a printed copy in the mail. Regardless of your delivery preference, you will be able to view and print your Statement by signing in to Retirement Online at the beginning of February.

 


A Guide to Your Statement

This guide explains the information and terms you may find in your Statement. If a credit or deduction does not apply to you, it will not appear on your Statement.

 

NYSLRS ID #
We use this number to identify retirees, as an alternative to your Social Security number, to protect your privacy and ensure your information is secure. Use it when you call or write to us.

Benefit Amount

Base Benefit
The total amount of your retirement benefit for the previous calendar year, before taxes, deductions or credits.

COLA/Supplementation
A credit to your benefit payment intended to help offset the impact of inflation. See our Cost-of-Living Adjustment page for information about COLA eligibility.

Escalation
Depending on your retirement plan, some benefits may be eligible for an escalation. For example, Tier 3 – 6 State Correction Officers and Security Hospital Treatment Assistants. Escalation is the annual increase or decrease of a service retirement, disability retirement or death benefit, based on the cost-of-living index. Check your retirement plan publication for more information.

Medicare Credits
If you retired from a New York State agency and are enrolled in a plan under the New York State Health Insurance Program (NYSHIP), this credit reimburses you for Medicare Part B. If you’re reimbursed by another source, your Statement will show $0.00. Contact your health benefits provider with any questions.

Deductions

Benefit Adjustments/Recoveries
If you received an overpayment of your pension benefit, we recover the amount that was overpaid.

Alternate Payee Deductions
If you are divorced and a portion of your pension payment goes to your ex-spouse, that amount will be here.

Health Insurance
Money withheld to pay for health care. NYSLRS does not administer health insurance benefits. However, we can deduct retiree premiums from pension payments at your former employer’s request. If you have questions about health insurance coverage and you retired from a New York State agency, contact the New York State Department of Civil Service. If you retired from a public employer other than New York State (a county, city, town, village or school district), please contact your former employer’s benefits administrator. If health insurance is not deducted from your benefit, this amount will be $0.00.

Other Deductions
Dues or fees that you’ve agreed to pay through pension deductions. For example, union dues would appear here. Other possible changes to your benefit — such as deductions for workers’ compensation, tax liens, alimony or child support — would also appear here.

Tax Withholdings

Total Federal Taxes Withheld
Money withheld for federal income tax. You may change your federal tax withholding anytime. Do not use your Statement for tax purposes.

Net Benefit Payment

Your total pension payout for the year, after all credits, deductions and taxes are applied.

Pension Payment Option

At retirement, you chose a pension payment option, whether to receive your maximum benefit amount (the Single Life Allowance option) or you may have taken a reduced amount in order to leave a possible benefit to a beneficiary. The option you chose is listed here. For more information about options, visit our Payment Option Descriptions page.
 


Do Not Use Your Statement for Tax Purposes

Do not use your annual Statement for tax purposes. If your pension is taxable, we provide you with a 1099-R tax form each year by January 31. If you haven’t received your 1099-R, sign in to Retirement Online to view, save and print a copy of your tax form.

 


Rev. 2/24

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