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Opinion 92-1
… or statutory amendments that bear on the issues discussed in the opinion. PUBLIC CONTRACTS -- Retained Percentages … (collection of interest on securities deposited in lieu of); (mandatory nature of withdrawal provisions); … of appropriate securities); (submission of securities in excess of amount to be withdrawn); (substitution of …
https://www.osc.ny.gov/legal-opinions/opinion-92-1Transferring or Terminating Your Membership
… less than five years of service credit and have not worked in covered public service for at least seven years; or You … or You transfer your membership to another public retirement system in New York State. If you previously were a …
https://www.osc.ny.gov/retirement/members/transferring-or-terminating-your-membershipParticipation in the Program – Contribution Stabilization Program
… Joining the Program Employers are eligible to participate in the CSP during a fiscal year in which their graded rate falls below their average rate. … will appear on their invoice. To elect to participate in the Contribution Stabilization Program (CSP), you must …
https://www.osc.ny.gov/retirement/employers/csp/participation-programAlternate Contribution Stabilization Program
… Overview Legislation enacted as part of the State budget (Chapter 57, Part BB, Laws of 2013) established an alternative to the original … program limits the increases or decreases in contribution rates from year to year. This means employers may be able to …
https://www.osc.ny.gov/retirement/employers/alternate-contribution-stabilization-programHow Contribution Rates Are Determined – What Every Employer Should Know
… for cost-of-living adjustments (COLA) Once future benefits have been projected, the Actuary must discount that cost to … required. Separate calculations are done for each plan since each plan allows for different benefits. Rev. 2/23 … What every employer should know about NYSLRS what it means to …
https://www.osc.ny.gov/retirement/employers/partnership/how-contribution-rates-are-determinedTips to Help You Keep Your Money
… or withdrawal every year. Cash all checks promptly for utility deposits, dividends, insurance premiums, wages and … all bank accounts, stock certificates, insurance policies, utility and rent deposits, and your safe deposit number. …
https://www.osc.ny.gov/unclaimed-funds/claimants/tips-help-you-keep-your-moneyRetirement System Membership – Special 20- and 25-Year Plans
… 9, 2010, through December 31, 2014: You are covered by the special plans in this booklet, if: Your employer has … between July 1, 2009, and January 8, 2010: You are covered by one of the special plans in this booklet, if: Your … January 1, 2015, or later: You are automatically covered by the special 20-year plan (Section 384-d), if your employer …
https://www.osc.ny.gov/retirement/publications/1517/retirement-system-membershipStart Saving for Retirement
… The day you retire may seem far into the future but the steps … of post-retirement income you’ll have available to you first before you set a savings goal. Think of retirement … to start saving as soon as you can because you need time to let your money grow. With the power of compounded …
https://www.osc.ny.gov/retirement/members/saving-for-retirementWest Ghent Volunteer Fire Company – Treasurer’s Activities (2016M-48)
… was to evaluate controls over the Treasurer’s activities for the period January 1, 2013 through August 12, 2014. … policy to describe proper credit card usage, dollar limits for purchases or documentation required to be maintained to … did not maintain complete and accurate records to account for all of the Company’s financial activities and did not …
https://www.osc.ny.gov/local-government/audits/fire-company-or-department/2017/11/03/west-ghent-volunteer-fire-company-treasurers-activities-2016mMandatory Membership – Membership and Enrollment
… Service For members who are in a contributory retirement plan, they will be required to purchase this service credit, … covered under Section 384-d if their employer offers the plan. If you are enrolling a new member of PFRS who is not … intends to elect coverage in either a 25-year retirement plan or a 20-year retirement plan, your employee only has one …
https://www.osc.ny.gov/retirement/employers/membership-enrollment/mandatory-membershipWithdrawing Your Contributions and/or Your Membership – State Police Plan
State Police Plan information for PFRS Tier 2 5 and 6 members under Sections 381b Withdrawing Your Contributions andor Your Membership
https://www.osc.ny.gov/retirement/publications/1518/withdrawing-your-contributions-andor-your-membershipState Agencies Bulletin No. 1527
… with the steps required to calculate breaks in service for TIAA members (Plan Type 7Z) that appear on the weekly … reports identify incomplete TIAA/CREF Suspense/NRI dates for TIAA members that have an Active payroll status and are … a new 366 Completion Date and/or 7 Year Completion Date for each TIAA member appearing on the NBEN742. The new dates …
https://www.osc.ny.gov/state-agencies/payroll-bulletins/state-agencies/1527-calculating-correct-projected-366-day-completion-date-andor-projected-7Refunds – Divorce and Your Benefits
… withdrawal of excess member contributions . If there is a DRO on file, NYSLRS’ Matrimonial Unit will determine whether … must be distributed to the ex-spouse. As a rule, if the DRO is silent on the issue of a refund of contributions, the …
https://www.osc.ny.gov/retirement/members/divorce/refundsState Agencies Bulletin No. 1665
… into a spreadsheet on the first page of the ORP-VDC Breaks Calculator workbook. Determine Which Employees Require the … make note of which dates are missing. Verify the ORP/VDC Retirement Election Date The retirement election date is required for the breaks in …
https://www.osc.ny.gov/state-agencies/payroll-bulletins/state-agencies/1665-calculating-breaks-service-orp-participants-apprear-control-d-nben742Property Tax Cap How to Calculate Retirement Exclusions
Learn How to Calculate Retirement Exclusions From Example
https://www.osc.ny.gov/files/local-government/property-tax-cap/pdf/exclusion_example.pdfRequest for Withdrawal from Section 384 (PF5094)
For NYSLRS PFRS members to withdraw their election to contribute under the provisions of Section 384 of the Retirement and Social Security Law, permitting retirement after 25 years of allowable police or fire service.
https://www.osc.ny.gov/files/retirement/forms/pdf/pf5094.pdfAbout Statement No. 67 – Governmental Accounting Standards Board
… Governmental Accounting Standards Board (GASB) Statement No. 67, Financial Reporting for Pension Plans : Establishes … and required supplementary information disclosures. Has no impact on NYSLRS’ Statement of Plan Net Position or …
https://www.osc.ny.gov/retirement/employers/gasb/about-statement-no-67Withdrawing Your Contributions and/or Your Membership – Special 20- and 25-Year Plans
Special 20 and 25Year Plan for PFRS Tiers 2 3 Article 11 5 and 6 under Sections 384 384d and 384e Withdrawing Your ContributionsMembership
https://www.osc.ny.gov/retirement/publications/1517/withdrawing-your-contributions-andor-your-membershipState Agencies Bulletin No. 1257
… the end of the breadcrumb trail displays a repositionable box containing the results of only the most recent search. … a blue underscored employee name will display a pop up box containing details about the employee, including the … represented by an eraser icon ( Delete Combination Codes ), now appears on the Job Data > Payroll tab. This …
https://www.osc.ny.gov/state-agencies/payroll-bulletins/state-agencies/1257-payroll-system-upgrade-changes-payserv-91SUNY Bulletin No. SU-355
… the payment, agencies are required to complete a roster identifying eligible employees who will receive an April 2024 Salary Increase. The roster must include the increased salary, the amount of the … SUNY System Administration will provide a copy of this roster in Excel format to OSC. To pay the April 2024 Salary …
https://www.osc.ny.gov/state-agencies/payroll-bulletins/state-university-new-york/su-355-2024-salary-increase-state-university-new-york-suny