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Opinion 92-1
… This opinion represents the views of the Office of the State Comptroller at the time … a designated bank or trust company, is required to collect all interest on the securities deposited and pay it to the … deposited securities to make sure that the market value at all times is substantially equal to the amount of retainage …
https://www.osc.ny.gov/legal-opinions/opinion-92-1Transferring or Terminating Your Membership
… worked in covered public service for at least seven years; or You have less than ten years of service credit, leave … voluntarily withdraw your membership and contributions; or You transfer your membership to another public retirement … an earlier tier of membership does not always result in a better benefit. Please review your options carefully before …
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 … are treated separately. Please read the information on the How the Program Works page carefully before you submit a form … – March 31, 2024), you will begin paying the normal rate (not the graded rate) in fiscal year 2025 (for your bill that …
https://www.osc.ny.gov/retirement/employers/csp/participation-programAlternate Contribution Stabilization Program
… Contribution Stabilization Program provides short-term cash relief for employers by allowing them to amortize a … submitted by: Email as an attachment to NYSLRS_Billing@osc.ny.gov ; or Mail to: NYSLRS Employer Billing Unit 110 State … funds will be applied toward your invoice up to the maximum amount you would have been able to amortize in a …
https://www.osc.ny.gov/retirement/employers/alternate-contribution-stabilization-programTips to Help You Keep Your Money
… savings accounts — accounts that have had no activity for three years. Make a small deposit or withdrawal every year. Cash all checks promptly for utility deposits, dividends, insurance premiums, wages … policies, utility and rent deposits, and your safe deposit number. Notify all your financial institutions when you move. …
https://www.osc.ny.gov/unclaimed-funds/claimants/tips-help-you-keep-your-moneyHow Contribution Rates Are Determined – What Every Employer Should Know
… each plan allows for different benefits. Rev. 2/23 … What every employer should know about NYSLRS what it means to participate as an employer …
https://www.osc.ny.gov/retirement/employers/partnership/how-contribution-rates-are-determinedRetirement System Membership – Special 20- and 25-Year Plans
… for New York State or any municipal employer in the State, membership in the New York State and Local Police and Fire … has adopted it. Withdrawing from a Special Plan You may withdraw your election to participate in a special plan after …
https://www.osc.ny.gov/retirement/publications/1517/retirement-system-membershipMandatory Membership – Membership and Enrollment
… permanent 12-month ERS positions. They must also earn at least the New York State’s minimum wage . The date of … 2 were required. Before April 1, 1967, the member had to earn at least $1,000. On or after April 1, 1967, the member had to earn at least $1,500. Employer Failure to Enroll Employee …
https://www.osc.ny.gov/retirement/employers/membership-enrollment/mandatory-membershipState Agencies Bulletin No. 1527
… Bulletin No. 1665 . Purpose To provide agencies with the steps required to calculate breaks in service for TIAA … Active Jobs and No Projected Dates. The NBEN742 reports list the employees by Department ID who have an Active job … Search. View TIAA Retirement Record(s). Select “View All” under the Coverage portion of panel. Print Retirement …
https://www.osc.ny.gov/state-agencies/payroll-bulletins/state-agencies/1527-calculating-correct-projected-366-day-completion-date-andor-projected-7Start Saving for Retirement
… may seem far into the future but the steps you take now to save for retirement can make a huge difference when that … An Important Part of Your Post-Retirement Income Not sure how much you’ll need to save for retirement? It’s helpful to … you get closer to retirement, you should develop a plan to withdraw money from your retirement savings. A withdrawal …
https://www.osc.ny.gov/retirement/members/saving-for-retirementState Agencies Bulletin No. 1665
… Purpose To provide agencies with the steps required to calculate breaks in service for ORP and … Active Jobs and No Projected Dates. The NBEN742 reports list the employees by Department ID who have an Active Job … Search. View ORP/VDC Retirement Record(s). Select “View All” under the Coverage portion of panel. Print Retirement …
https://www.osc.ny.gov/state-agencies/payroll-bulletins/state-agencies/1665-calculating-breaks-service-orp-participants-apprear-control-d-nben742Withdrawing 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-membershipWest Ghent Volunteer Fire Company – Treasurer’s Activities (2016M-48)
… Purpose of Audit The purpose of our audit was to evaluate controls over the Treasurer’s activities for the … accounts. The Board did not establish a credit card policy to describe proper credit card usage, dollar limits for purchases or documentation required to be maintained to support credit card purchases. The …
https://www.osc.ny.gov/local-government/audits/fire-company-or-department/2017/11/03/west-ghent-volunteer-fire-company-treasurers-activities-2016mSUNY Bulletin No. SU-355
… Purpose: The purpose of this bulletin is to provide agency instructions for processing the 2024 … Background: Chapter 190 of the Laws of 2023 provides for a salary increase of three percent (3.00%) for all eligible … the increased salary, the amount of the increase, must be signed by the campus president, and forwarded to SUNY System …
https://www.osc.ny.gov/state-agencies/payroll-bulletins/state-university-new-york/su-355-2024-salary-increase-state-university-new-york-sunyRefunds – Divorce and Your Benefits
… Occasionally, a member may be entitled to a refund of contributions due to tier reinstatement , withdrawal of membership , transfer of membership or withdrawal of excess member contributions . …
https://www.osc.ny.gov/retirement/members/divorce/refundsOpinion 88-58
… FUNDS -- Capital Reserve Funds (referendum requirements for fund established for type of improvement) STREETS AND … LAW, §6-c(8): An expenditure for the construction of a highway garage made from a capital reserve fund established for the construction of …
https://www.osc.ny.gov/legal-opinions/opinion-88-58Property 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.pdfWithdrawing 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-membershipAbout 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-67