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Loans: Applying and Repaying
… fastest and easiest way to apply for a loan with NYSLRS. You can see how much you are eligible to borrow, what the … (ERS) or the Police and Fire Retirement System (PFRS); Have the required minimum amount of contributions in your … loan until you repay the defaulted loan. Defaulted loans do not appear on your credit history. Loan Payment Deferment …
https://www.osc.ny.gov/retirement/members/loans-applying-and-repayingRetiree Annual Statement
… when your Statement is available. Use Retirement Online to Get Your Statement To view, save or print your Statement: … by State law. For information about COLA eligibility and how it’s calculated, visit our Cost-of-Living Adjustment … benefit. Alternate Payee Deductions The amount deducted to pay to your ex-spouse per the terms of your Domestic …
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
… federal government—is complex. The federal budget plays an integral role in state economies and budgets. New York … details the differences among the 50 states with respect to what is paid in federal taxes and how much is received in federal spending. The results for …
https://www.osc.ny.gov/reports/new-yorks-balance-payments-federal-budget-federal-fiscal-year-2023DiNapoli: New Yorkers Could Lose $72B in Reported State and Local Tax Deductions Under Trump Plan
… to lose more than $72 billion in reported deductions for income and property taxes if proposals to change the federal tax code are implemented, according to a report issued today … The framework proposes to consolidate the number of tax brackets, but doesn't specify the income levels at which such …
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
… automatically convert all employees in the payroll system registered in Tiers 3, 5 and 6 of the NYS Police and Fireman …
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 Congress would … state and local taxes, which has been part of the federal income tax since its inception in 1913, would be eliminated. … The administration seeks to reduce the number of tax brackets from seven to three, with rates of 10 percent, 25 …
https://www.osc.ny.gov/press/releases/2017/07/dinapoli-loss-federal-deductions-trump-tax-plan-could-hurt-new-yorks-middle-class-taxpayersDiNapoli: Recently Enacted Federal Tax Provisions Disproportionately Benefit Those With Higher Incomes
… State Comptroller Thomas P. DiNapoli analyzed the federal tax provisions enacted under Public Law No: 119-21 at the … of July and how they may impact New Yorkers. While the bill made permanent many tax changes included in the 2017 Tax … interest on new car loans are in effect only for tax years 2025 to 2028, and limited to taxpayers with Social Security …
https://www.osc.ny.gov/press/releases/2025/09/dinapoli-recently-enacted-federal-tax-provisions-disproportionately-benefit-those-higher-incomesBorrowing Against Your Contributions – State Police Plan
… If you meet eligibility requirements, you may take a loan from … your contributions: You must be in active service and have at least one year of member service credit. You must … could result in significant tax consequences for you. You do not make the required payments on your loan at least once …
https://www.osc.ny.gov/retirement/publications/1518/borrowing-against-your-contributions-0Deduction Codes – Payroll Manual
… Deduction Codes …
https://www.osc.ny.gov/state-agencies/payroll/payroll-manual/deduction-codesMandatory Service Credit Purchase Payments – Enhanced Reporting
… contribution deductions are taken before tax for federal income tax purposes because they are covered under Section … you report to the Internal Revenue Service for federal income tax by the amount of each deduction taken. For Social … credit purchase is covered under Section 414h and is a pretax deduction …
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
… year, including multiple threats to the state’s financial picture. There is no doubt that New York state faces many … year including multiple threats to the states financial picture …
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
… If you meet eligibility requirements and have member contributions in your account, you can take a … could result in significant tax consequences for you. You do not make the required payments on your loan at least once …
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 … withheld or over withheld. The Internal Revenue Service (IRS) and the Office of the State Comptroller (OSC) strongly … urge all employees to complete a “paycheck checkup” to verify they are having the right amount of tax withheld from …
https://www.osc.ny.gov/state-agencies/payroll-bulletins/state-agencies/1657-federal-withholding-change-tax-year-2018State Agencies Bulletin No. 1799.1
… 1676 and 1799 Purpose The purpose of this bulletin is to inform agencies of changes in certain garnishment … deduction amounts, or in some instances, garnishments no longer being taken for employees due to new minimum wage … Federal Consumer Credit Protection Act (Title III) (CPPA) places limits to creditor garnishments and New York State tax …
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
… As State policymakers responded to the challenges of the COVID-19 pandemic and accompanying … billion higher than the prior year. This report provides information and analysis on the full spectrum of New York … supply chain disruptions, and high rates of inflation. My hope is that this Financial Condition Report can serve as …
https://www.osc.ny.gov/reports/finance/2022-fcr/message-comptrollerState Agencies Bulletin No. 1676
… has been superseded by Payroll Bulletins 1799 Purpose To inform agencies of changes in certain garnishment … deduction amounts, or in some instances, garnishments no longer being taken for employees due to new general deduction … The federal Consumer Credit Protection Act (Title III) places limits to creditor garnishments and New York State Tax …
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
… sectors indicate an improving economic outlook. We are not out of the woods, and we must remain cautious as there is … collections, and will make combined state and local rates for New York City high-income earners the highest in the … New Yorkers is essential for an equitable recovery. “While much of the new resources may be temporary and necessary to …
https://www.osc.ny.gov/press/releases/2021/04/state-comptroller-thomas-p-dinapoli-statement-new-state-budgetState Agencies Bulletin No. 775
… gross income for qualified parking benefits will be $220 per month in 2008 (increased from $215 per month in 2007). Qualified Transit Pass The maximum amount …
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
… Crain’s New York Business published an op-ed from New York State Comptroller … allocation shows only one category: state operation and administration. No other large state disclosed less on its … , including the federal Paycheck Protection Program for small businesses and the Emergency Rental Assistance Program. …
https://www.osc.ny.gov/press/releases/2022/04/dinapoli-op-ed-crains-new-york-business