Retirees receive a 2022 Retiree Annual Statement and newsletter from NYSLRS by early March 2023. Your Statement provides important benefit and payment information for the last calendar year. Listed below is the information you can expect to find on your Statement and an explanation of what each term means.
Note: New features added in January 2023 allow you to view your account information throughout the year by signing in to Retirement Online. You can view a benefit payment pay stub that contains monthly and year-to-date totals of your pension payment and deductions, adjust your federal tax withholding, manage your direct deposit information, update your contact information or generate an income verification letter.
Items in Your Statement
- Retirement #
- 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.
- Total Normal Benefit
- The total amount of your retirement benefit for calendar year 2022, before taxes and any deductions or credits.
- Total COLA / Supplement Allowance
- Credits to your benefit payment intended to help offset the impact of inflation. See our Cost-of-Living Adjustment page for more information.
- Total Benefit Adjustments
- Changes to your benefit, including deductions for equitable distributions, workers’ compensation, tax liens, alimony and child support.
- Total 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 annual credit reimburses you for Medicare Part B. If you’re reimbursed by another source, your Statement will show $0.00. Contact your benefit provider with any questions.
- Total Miscellaneous Deductions
- Dues or fees that you’ve agreed to pay through pension deductions. For example, union dues would appear here.
- Total Federal Withholding Tax
- Money withheld for federal income tax. You may change your federal withholding anytime.
- Total Health Insurance Premiums
- 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 you pay out of pocket, your Statement will show $0.00.
- Total Net Benefit
- Your total pension payout for the year, after all taxes, deductions and credits.
Tax Filing
Do not use this Statement for tax purposes. If your pension is taxable, we mail you a 1099-R form each year by January 31. If you haven’t received your 1099-R, you can request a reprint.
We don’t issue a 1099-R form if you are receiving a disability retirement benefit that isn’t taxable.
Your Benefit Payment Option
This is how you chose to receive your benefit at retirement. For example, you may have chosen to take the maximum amount (the Single Life Allowance), or you may have taken a reduced amount in order to leave a possible benefit to a beneficiary.
For more information about options, visit our Payment Option Descriptions page.
Note: If you chose a “pop-up” option and your beneficiary has since died, your Statement will still show that option. Only the amount of your benefit would change, not the option itself.
Rev. 2/23