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Available Options – Non-Contributory Plan with Guaranteed Benefits
… It provides the maximum benefit payment to you each month for the rest of your life. Under this selection, all payments … or sooner, after retiring), nothing will be paid to any beneficiary. Cash Refund — Contributions (Option ½) … value will be paid to your beneficiary or estate in a lump sum. “Initial value” is an actuarial term for the value …
https://www.osc.ny.gov/retirement/publications/1513/available-optionsAvailable Options – Basic Plan with Increased-Take-Home-Pay (ITHP)
… 0) This is the basic retirement benefit. It provides for the maximum benefit payment to you each month for the … or sooner, after retiring), nothing will be paid to any beneficiary. Cash Refund — Contributions (Option ½) … value will be paid to your beneficiary or estate in a lump sum. “Initial value” is an actuarial term for the value …
https://www.osc.ny.gov/retirement/publications/1511/available-optionsEstimated Invoice
… to pay a discounted prepayment amount by December 15, 2025. ( Note: Since the February 1, 2026 due date falls on a … click Access Billing Dashboard button. After choosing location code and retirement system (ERS or PFRS), click … during State Fiscal Year April 1, 2024–March 31, 2025 (SFY 2024–25). To view the Fiscal Year Earnings used to …
https://www.osc.ny.gov/retirement/employers/estimated-invoiceState Agencies Bulletin No. 315
… legal review also clarified that employees who are on a leave of absence (with or without pay) are considered to be … neither are calculated when an employee is on a leave without pay. Processing Information The first time plan … to assist agencies with identifying active (active, leave with pay, leave without pay) employees with blank …
https://www.osc.ny.gov/state-agencies/payroll-bulletins/state-agencies/315-changes-processing-suspense-period-and-7-year-period-tiaacref-membersShareholders Cheer Lowe's New Green Energy Initiatives
… The New York State Common Retirement Fund (the Fund) and Boston Common Asset Management had communicated with the … program," said Steven Heim, Managing Director of Boston Common Asset Management. "We encourage Lowe's to be an …
https://www.osc.ny.gov/press/releases/2018/03/shareholders-cheer-lowes-new-green-energy-initiativesNYS Comptroller DiNapoli Writes to President Biden in Support of His Planned Veto of Anti-ESG Resolution
… allows managers of retirement funds that are subject to the Employee Retirement Income Security Act to consider … of Labor’s rule are trying to impose partisan politics on what should be dollars and cents, nonpolitical investment … of the New York Common Retirement Fund (Fund), which is the one of the largest public pension funds in the United …
https://www.osc.ny.gov/press/releases/2023/03/nys-comptroller-dinapoli-writes-president-biden-support-his-planned-veto-anti-esg-resolutionBorrowing Against Your Contributions – State Police Plan
… to repay the loan and interest within five years. Loans are repaid through payroll deductions. You may borrow … period. Prior to retirement, and 30 days after issuance, loans are fully insured in case you die before repaying them. … loan balances must be at least 2 percent of your earnings. Loans are repaid through payroll deductions. You may borrow …
https://www.osc.ny.gov/retirement/publications/1518/borrowing-against-your-contributions-0Hiring Public Retirees – When Employees Retire
… Before you hire a public retiree, you should be aware of the laws governing how … earn in post-retirement employment without affecting their pension. Earnings Limits For all public retirees, earnings … school district, BOCES, etc. Public authorities For service (not disability) retirees, earnings are not limited …
https://www.osc.ny.gov/retirement/employers/when-employees-retire/hiring-public-retireesAutomated Phone Service
… Below is a list of the phone menu options available to NYSLRS members. You can hear … correspond to the numbers you will need to press on your phone for information. Did You Know? In many cases you can … and general retirement information quickly and easily by phone with the NYSLRS automated phone service …
https://www.osc.ny.gov/retirement/members/automated-phone-serviceOvertime Limits – Enhanced Reporting
… Security Law limits the amount of overtime pay included in the calculation of pension benefits. Overtime limits … will take effect at the start of calendar year 2027. How Automatic Capping Works Report overtime earnings using … … Tier 5 and 6 NYSLRS members have annual limits as to how much overtime pay is considered pensionable …
https://www.osc.ny.gov/retirement/employers/enhanced-reporting/overtime-limitsPlanning
… should have the best understanding of where you are and what you would like your life to be in the future. However, having goals is one thing — developing a plan to achieve them is quite … Risk Rule 2. The greater the return or the higher the interest rate, the greater the risk that you may lose some or …
https://www.osc.ny.gov/retirement/members/planningState Agencies Bulletin No. 794
… Purpose To explain procedures related to the Factor Change. Affected Employees All employees with a Pay Basis … CYF and CAL (except employees in SUNY Grade 980) Effective Date(s) 3/27/08 (Institution) – paychecks dated 4/10/08, Pay …
https://www.osc.ny.gov/state-agencies/payroll-bulletins/state-agencies/794-factor-change-fiscal-year-2008-09State Pension Fund Adds $30 Million for Investments in New York Companies
… Retirement Fund has committed an additional $30 million to Primary Venture Partners to invest in state-based … million in returns from 71 exited companies, I am proud of how well the In-State Program is performing. As trustee of … in the nation. Over the past 20 years, 80 percent of the cost of benefit payments has been funded by investment …
https://www.osc.ny.gov/press/releases/2015/03/state-pension-fund-adds-30-million-investments-new-york-companiesXII.6.C Paying Prompt Contract Interest – XII. Expenditures
… Contracting interest in the SFS is 58403. Liquidation - Leave blank. For information on processing vouchers for …
https://www.osc.ny.gov/state-agencies/gfo/chapter-xii/xii6c-paying-prompt-contract-interestJoin Our Team as a State Program Examiner!
… Executive Branch with an independent and objective view of how government can operate more efficiently and effectively. … after successfully completing their first and second years in our traineeship program. There are also many other benefits to working for New York State, including: …
https://www.osc.ny.gov/jobs/sgaNYS Comptroller DiNapoli: One of Largest U.S. Carbon Emitters Commits to Lower GHG Emissions
… new, long-term targets for lowering greenhouse gas (GHG) emissions consistent with the Paris Agreement's goals. As a … to decarbonize its operations," DiNapoli said. "Reducing emissions and mitigating climate risk are vital to the … report on targets for the long-term reduction of its GHG emissions, taking into consideration the global GHG reduction …
https://www.osc.ny.gov/press/releases/2018/02/nys-comptroller-dinapoli-one-largest-us-carbon-emitters-commits-lower-ghg-emissionsState Agencies Bulletin No. 330
… conditions: They must satisfy all the other conditions of the program consistent with the side letter to the … year will be considered in full pay status for the purpose of the Productivity Gain Program: Military leave pursuant to Section 242 of the New York State Military Law Supplemental Military …
https://www.osc.ny.gov/state-agencies/payroll-bulletins/state-agencies/330-additional-eligibility-criteria-and-information-regarding-2002XII.5.G Entering the Appropriate Obligation and Accounting Dates on Vouchers – XII. Expenditures
… SECTION OVERVIEW AND POLICIES Agencies must use the correct Obligation Date and Accounting Date. The Obligation Date is used in the accrual and modified accrual bases of … vendor provided the goods or services that resulted in a claim for collection from the State. The Accounting Date …
https://www.osc.ny.gov/state-agencies/gfo/chapter-xii/xii5g-entering-appropriate-obligation-and-accounting-dates-vouchersState Agencies Bulletin No. 1445
… Control-D report (Agency W-2c Report) and complete a Form AC3206 (Prior Year Social Security and Medicare Tax … to a previously reported wage or withholding amount (i.e., if a corrected W-2 is requested because the Retirement … SS/Med refund template SS-Med Refund Template ), a valid I-20 (F-1) or DS2019 (J-1) that hasn’t expired (for the I-20, …
https://www.osc.ny.gov/state-agencies/payroll-bulletins/state-agencies/1445-general-tax-tipsPre-Retirement Consultations
… you’re nearing retirement, you may want to speak with one of our representatives to review your benefits and ask any … different retirement dates or a beneficiary’s date of birth. When you’re done, you can print or save your … advantage of this service before filing your retirement application …
https://www.osc.ny.gov/retirement/members/pre-retirement-consultations