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Loans: Applying and Repaying
… date it was issued. Frequency of loan applications You can only take a loan once every 12 months. Paper applications … your loan payoff amount and pay off your loan. If you have only one outstanding NYSLRS loan and you overpay on that …
https://www.osc.ny.gov/retirement/members/loans-applying-and-repayingTaxes and Your Pension
… Most NYSLRS pensions are subject to federal income tax. Your federal tax withholding is the amount of federal … Tax information about federal withholdings and 1099R tax …
https://www.osc.ny.gov/retirement/retirees/taxes-and-your-pensionNew York’s Balance of Payments in the Federal Budget: Federal Fiscal Year 2023
… of payments was positive for 47 states and negative for only 3 states: Washington, Massachusetts and New Jersey. In … 9.3 percent, more than overall spending which declined by only 2.2 percent, reflecting continued federal … three positions lower than its 39 th ranking in 2022. 3 Only three states—Washington, Massachusetts, and New …
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/payroll-manual/deduction-codesAnnual Statement
… not receive a printed Statement in the mail.) Changes to Your Statement Beginning with Statements for 2025, you … by State law. For information about COLA eligibility and how it’s calculated, visit our Cost-of-Living Adjustment page . Escalation An annual change to your pension based on the cost-of-living index and …
https://www.osc.ny.gov/retirement/retirees/annual-statementState Agencies Bulletin No. 1275
… Revenue Service (IRS) ruling dated July 9, 2013 states mandatory contributions made by PFRS members in Tier 3, 5 and … of Federal taxes. Effective October 1, 2013, the mandatory contributions made by Tier 3, 5 and 6 PFRS members …
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
… taxpayers nationally and over 480,000 in New York, second only to California. While a repeal of the AMT alone could …
https://www.osc.ny.gov/press/releases/2017/07/dinapoli-loss-federal-deductions-trump-tax-plan-could-hurt-new-yorks-middle-class-taxpayersDiNapoli: New Yorkers Could Lose $72B in Reported State and Local Tax Deductions Under Trump Plan
… could result in higher tax bills for some New Yorkers and only modest savings for others," said DiNapoli. "Washington … and other changes have far reaching implications that not only hit the bottom line for taxpayers, but could affect …
https://www.osc.ny.gov/press/releases/2017/10/dinapoli-new-yorkers-could-lose-72b-reported-state-and-local-tax-deductions-under-trump-planDiNapoli: Recently Enacted Federal Tax Provisions Disproportionately Benefit Those With Higher Incomes
… overtime pay, and interest on new car loans are in effect only for tax years 2025 to 2028, and limited to taxpayers …
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 … insured in case you die before repaying them. How Much You Can Borrow The minimum loan is $25. The maximum loan is 75 …
https://www.osc.ny.gov/retirement/publications/1518/borrowing-against-your-contributions-0Mandatory Service Credit Purchase Payments – Enhanced Reporting
… are usually incurred for service after a member’s date of membership for which no (or insufficient) contributions … tax purposes because they are covered under Section 414(h) of the Internal Revenue Code. Mandatory purchases of ERS service on or after July 1, 1989, and PFRS service on …
https://www.osc.ny.gov/retirement/employers/enhanced-reporting/mandatory-service-credit-purchase-paymentsBorrowing Against Your Contributions – Special 20- and 25-Year Plans
… you can take a loan from NYSLRS. If you aren’t required to contribute (determined by your tier and retirement plan), … Tier 2 and 3 (Article 11) Members The following rules apply when borrowing against your contributions: You must be … are fully insured in case you die before repaying them. How Much You Can Borrow The minimum loan is $25. The maximum …
https://www.osc.ny.gov/retirement/publications/1517/borrowing-against-your-contributionsState Agencies Bulletin No. 1657
… personal tax returns for 2018, that employees file in 2019, may be affected. Employees with more complex tax … withheld or over withheld. The Internal Revenue Service (IRS) and the Office of the State Comptroller (OSC) strongly … the right amount of tax withheld from their paychecks. The IRS Withholding Calculator or other withholding calculators …
https://www.osc.ny.gov/state-agencies/payroll-bulletins/state-agencies/1657-federal-withholding-change-tax-year-2018State Agencies Bulletin No. 1799.1
… taken. If an employee’s garnishment is no longer taken, it does not necessarily mean the employee’s garnishment has been satisfied. Effective …
https://www.osc.ny.gov/state-agencies/payroll-bulletins/state-agencies/17991-update-general-deduction-rules-writs-garnishments-and-new-york-stateNew York State Comptroller Thomas P. DiNapoli Statement on Executive Budget Proposal
… put forth an Executive Budget proposal to tackle the serious, unprecedented issues facing New York state over the … put forth an Executive Budget proposal to tackle the serious unprecedented issues facing New York state over the …
https://www.osc.ny.gov/press/releases/2018/01/new-york-state-comptroller-thomas-p-dinapoli-statement-executive-budget-proposalState Agencies Bulletin No. 1676
… taken. If an employee’s garnishment is no longer taken, it does not necessarily mean the employee’s garnishment has been satisfied. Effective …
https://www.osc.ny.gov/state-agencies/payroll-bulletins/state-agencies/1676-new-general-deduction-rules-writs-garnishments-and-new-york-state-taxCUNY Bulletin No. CU-547
… CUNY (SS/Medicare Deficiency), will have a deduction rate of ten percent of gross pay applied. Existing FICA tax deficiency repayment … in a total FICA repayment that exceeds ten percent of gross pay. If an employee has existing active FICA …
https://www.osc.ny.gov/state-agencies/payroll-bulletins/city-university-new-york/cu-547-new-repayment-rate-deduction-code-582-cuny-ssmedicareState Agencies Bulletin No. 1493
… NYS (SS/Medicare Deficiency) will have a deduction rate of ten percent of gross pay applied. Existing FICA tax deficiency repayment … in a total FICA repayment that exceeds ten percent of gross pay. If an employee has existing active FICA …
https://www.osc.ny.gov/state-agencies/payroll-bulletins/state-agencies/1493-new-repayment-rate-deduction-code-502-nys-ssmedicare-deficiencyState Agencies Bulletin No. 1799
… taken. If an employee’s garnishment is no longer taken, it does not necessarily mean the employee’s garnishment has been satisfied. Effective …
https://www.osc.ny.gov/state-agencies/payroll-bulletins/state-agencies/1799-update-general-deduction-rules-writs-garnishments-and-new-york-stateState Agencies Bulletin No. 775
… Taxes Federal Earned Income Tax Credits Qualified Parking Benefits Qualified Transit Pass Mileage Rates Tax … Bulletin No. 767 for specific instructions. Qualified Parking Benefits The maximum amount allowed as exclusion from gross income for qualified parking benefits will be $220 per month in 2008 (increased …
https://www.osc.ny.gov/state-agencies/payroll-bulletins/state-agencies/775-summary-tax-related-changes-2008