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Loans: Applying and Repaying
NYSLRS members may be eligible to borrow against their retirement contributions if they meet eligibility requirements
https://www.osc.ny.gov/retirement/members/loans-applying-and-repayingRetiree Annual Statement
… State Department of Civil Service . If you retired from a county, city, town, village or school district, contact your …
https://www.osc.ny.gov/retirement/retirees/retiree-annual-statementTaxes and Your Pension
… Most NYSLRS pensions are subject to federal income tax. Your federal tax withholding is the amount of federal … information. Sign in to Retirement Online. Look under My Account Summary . Click Update My W-4P Tax Information …
https://www.osc.ny.gov/retirement/retirees/taxes-and-your-pensionNew York’s Balance of Payments in the Federal Budget: Federal Fiscal Year 2023
… Message from the Comptroller April 2025 The distribution of federal … received $1.06 in return, compared to the average for all states of $1.32. This is the fourth year in a row that … and decrease federal spending on payrolls. While all states benefitted from pandemic assistance, most states …
https://www.osc.ny.gov/reports/new-yorks-balance-payments-federal-budget-federal-fiscal-year-2023Deduction Codes – Payroll Manual
… Deduction Codes …
https://www.osc.ny.gov/state-agencies/payroll/payrollmanual/deduction-codesDiNapoli: New Yorkers Could Lose $72B in Reported State and Local Tax Deductions Under Trump Plan
… for income and property taxes if proposals to change the federal tax code are implemented, according to a report … lose valuable deductions under the proposed changes to the federal tax code. Changes to the standard deduction and … York. New Yorkers reported more than $72 billion in such federal deductions in 2015, including $51.7 billion for …
https://www.osc.ny.gov/press/releases/2017/10/dinapoli-new-yorkers-could-lose-72b-reported-state-and-local-tax-deductions-under-trump-planState Agencies Bulletin No. 1275
… Purpose To notify agencies of the new deduction codes 616 PAF Retirement Before Tax (PAF … Arrears Before Tax (PAF ARBTX) established for members of the New York State Police and Fireman Retirement System … Before Tax (PAF ARBTX). OSC will automatically convert all employees in the payroll system registered in Tiers 3, 5 …
https://www.osc.ny.gov/state-agencies/payroll-bulletins/state-agencies/1275-new-deduction-code-616-paf-retirement-tax-paf-btx-and-new-deductionDiNapoli: Loss of Federal Deductions in Trump Tax Plan Could Hurt New York's Middle Class Taxpayers
… Major changes to the federal tax code being considered by the President and … for property taxes in 2014, representing 13.5 percent of all state and local tax deductions nationwide. The average … report provides information on itemized deductions for all of New York's counties, noting that on a regional basis, …
https://www.osc.ny.gov/press/releases/2017/07/dinapoli-loss-federal-deductions-trump-tax-plan-could-hurt-new-yorks-middle-class-taxpayersBorrowing Against Your Contributions – State Police Plan
… you may take a loan from NYSLRS. Tier 2 Members The following rules apply when borrowing against your … after January 1, 2018, the total maximum loan (including all of your outstanding loan balances) is either 50 percent … so you must have an account balance of at least $2,000. All Tiers — Your Loan May Be Federally Taxable Before you …
https://www.osc.ny.gov/retirement/publications/1518/borrowing-against-your-contributions-0Mandatory Service Credit Purchase Payments – Enhanced Reporting
… Service credit purchase (SCP) payments for mandatory member … made. If the member is in a contributory plan, they must purchase this service credit to avoid a reduction in their …
https://www.osc.ny.gov/retirement/employers/enhanced-reporting/mandatory-service-credit-purchase-paymentsNew York State Comptroller Thomas P. DiNapoli Statement on Executive Budget Proposal
… but we know it will force tough decisions. The level of cuts in federal aid for health care and other programs … Budget, examine both the near-term and long-term impact of these proposals and provide a detailed analysis." … The …
https://www.osc.ny.gov/press/releases/2018/01/new-york-state-comptroller-thomas-p-dinapoli-statement-executive-budget-proposalBorrowing Against Your Contributions – Special 20- and 25-Year Plans
… payment goes down. With a refinanced loan , you add the new loan amount to your existing balance and refinance the entire amount as one new loan. The minimum repayment amount for a refinanced loan …
https://www.osc.ny.gov/retirement/publications/1517/borrowing-against-your-contributionsState Agencies Bulletin No. 1657
… Purpose To inform agencies of the change to federal tax withholding and the potential impact of the change as a result of the Tax … the Office of the State Comptroller (OSC) strongly urge all employees to complete a “paycheck checkup” to verify they …
https://www.osc.ny.gov/state-agencies/payroll-bulletins/state-agencies/1657-federal-withholding-change-tax-year-2018State Agencies Bulletin No. 1799.1
… This bulletin supersedes Payroll Bulletins 1676 and 1799 Purpose The purpose of this bulletin is to inform … who have a writ of garnishment or New York State tax levy are affected. Background The Federal Consumer Credit Protection Act (Title III) (CPPA) places limits to creditor garnishments and New York State tax levies …
https://www.osc.ny.gov/state-agencies/payroll-bulletins/state-agencies/17991-update-general-deduction-rules-writs-garnishments-and-new-york-stateMessage from the Comptroller – 2022 Financial Condition Report
… and accompanying volatility in the State’s finances, New York ended the State Fiscal Year (SFY) 2021-22 budget on … finances. Federal aid provided 39 percent of the State’s All Funds receipts in SFY 2021-22. Federal funding supports …
https://www.osc.ny.gov/reports/finance/2022-fcr/message-comptrollerState Agencies Bulletin No. 761
… who claim to be exempt from Federal and/or State tax withholding. Affected Employees Employees claiming to be exempt from Federal and/or State tax withholding Background Internal Revenue Service regulations … employee is identified as claiming tax-exempt from Federal withholding and does not provide a new Form W-4 by February …
https://www.osc.ny.gov/state-agencies/payroll-bulletins/state-agencies/761-claiming-exempt-federal-andor-state-tax-withholdingState Agencies Bulletin No. 1676
… has been superseded by Payroll Bulletins 1799 Purpose To inform agencies of changes in certain garnishment … garnishments no longer being taken for employees due to new general deduction rules for calculating new and …
https://www.osc.ny.gov/state-agencies/payroll-bulletins/state-agencies/1676-new-general-deduction-rules-writs-garnishments-and-new-york-state-taxState Comptroller Thomas P. DiNapoli Statement on New State Budget
… agreed on a new state budget as the state is struggling to recover from the economic devastation caused by COVID-19. … sectors indicate an improving economic outlook. We are not out of the woods, and we must remain cautious as there is … and small businesses who need it, including workers who have been excluded from federal stimulus aid. Helping …
https://www.osc.ny.gov/press/releases/2021/04/state-comptroller-thomas-p-dinapoli-statement-new-state-budgetState Agencies Bulletin No. 775
… 2008 will be calculated at 6.2% on the first $102,000 of taxable wages resulting in a maximum Social Security tax …
https://www.osc.ny.gov/state-agencies/payroll-bulletins/state-agencies/775-summary-tax-related-changes-2008DiNapoli Op-Ed in Crain's New York Business
… revenue growth and an unprecedented infusion of federal money. Federal aid stabilized state finances, enabling New … report from my office found that all states received more money than they sent to Washington, D.C., in taxes in federal … that the state has a well-thought-out plan for the money. Federal guidance for American Rescue Plan fiscal …
https://www.osc.ny.gov/press/releases/2022/04/dinapoli-op-ed-crains-new-york-business