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Overtime Compensation – Legacy Reporting
… For Tier 5 and 6 members, overtime pay beyond the annual … Only report overtime until a member reaches the limit for the calendar year. You must still report the member’s … pay that exceeds the limit. Do not withhold contributions for any overtime amounts beyond the limit. At the beginning …
https://www.osc.ny.gov/retirement/employers/legacy-reporting/overtime-compensationComptroller Dinapoli and A.G. Schneiderman Announce Arrests in Public Corruption Case Involving Developer Who Allegedly Laundered Campaign Contributions to Former Halfmoon Supervisor
… violate that trust.” “Individuals who seek to circumvent election laws undermine the entire election process thus denying a level playing field for all candidates,” said Andrew W. Vale, Special Agent in Charge of …
https://www.osc.ny.gov/press/releases/2014/08/comptroller-dinapoli-and-ag-schneiderman-announce-arrests-public-corruption-case-involving-developerState Agencies Bulletin No. 2043
… Purpose The purpose of this bulletin is to notify agencies of a new prior year NYSTRS arrears deduction code, reporting for the new code and provide instructions to enter employee … reported to NYSTRS on a bi-weekly basis through the use of this new deduction code. Currently, NYSTRS bills agencies via …
https://www.osc.ny.gov/state-agencies/payroll-bulletins/state-agencies/2043-new-prior-year-arrears-deduction-code-members-new-york-state-teachersOpinion 88-6
… will constitute an indeterminate cost and benefits are not payable until retirement. You ask whether a "defined … characteristic of retirement systems is that benefits are payable only upon retirement after a designated minimum … benefits under the plan vest immediately and in full, they are not payable until the "normal retirement age" of …
https://www.osc.ny.gov/legal-opinions/opinion-88-6State Agencies Bulletin No. 315
… Affected Employees Employees with a TIAA/CREF record in PaySR, including employees whose TIAA record has been … until "completion of one year of service, and continuance in service thereafter". This had always been interpreted to … satisfies the "one year of service" and "continuance in service" provisions of section 392(4) of the Education …
https://www.osc.ny.gov/state-agencies/payroll-bulletins/state-agencies/315-changes-processing-suspense-period-and-7-year-period-tiaacref-membersState Agencies Bulletin No. 1243
… after March 31, 2012. Effective with the first checks in April 2013, the legislation requires the employee … appropriate contributions. OSC has identified employees in Retirement Plan 7Z with an enrollment date greater than … biweekly rate by 26. Part time percentages are excluded in the calculation of annual salary for the purpose of …
https://www.osc.ny.gov/state-agencies/payroll-bulletins/state-agencies/1243-tier-6-tiaa-retirement-contribution-rate-changesDiNapoli: Contribute to a NY 529 College Savings Account and Deduct Up to $10,000 From Your State Taxes
… New York State Comptroller Thomas P. DiNapoli today reminded New Yorkers that contributions to a New York State 529 College Savings Program account are tax … New York State Comptroller Thomas P DiNapoli today reminded New Yorkers that contributions to a New York State 529 …
https://www.osc.ny.gov/press/releases/2016/12/dinapoli-contribute-ny-529-college-savings-account-and-deduct-10000-your-state-taxesDiNapoli: As State Tax Check-Off Options Increase, Spending Lags for Most
… each year. “New York state offers many worthy causes for income tax filers to donate to on their income tax forms, … which received 24.9% of the total, followed by Breast Cancer Research and Education (8.9%) and Food Banks (7.9%). … totaled 218,400, a 63.4% decline. A potential reason for the decline in contributors may be the large increase in …
https://www.osc.ny.gov/press/releases/2024/01/dinapoli-state-tax-check-off-options-increase-spending-lags-mostDiNapoli: State Pension Fund Value $178.1 Billion
… markets during a volatile year. The Fund has an estimated value of $178.1 billion. “Despite weak equity markets, the … expected rate of return is 7 percent. The Fund’s value reflects $10.9 billion in benefits paid out during the … years 2014-2015 and 2015-2016. A graph showing the Fund’s value since 1993 is available here: …
https://www.osc.ny.gov/press/releases/2016/06/dinapoli-state-pension-fund-value-1781-billionDiNapoli: New York State Common Retirement Fund Reaches Agreements with Companies on Disclosing Political Spending
… announced today. DiNapoli’s political spending proposal at Twitter also received a majority of support from shareholders …
https://www.osc.ny.gov/press/releases/2022/06/dinapoli-new-york-state-common-retirement-fund-reaches-agreements-companies-disclosing-politicalPayments Not Requiring Pre-Audit – Improving the Effectiveness of Your Claims Auditing Process
… year. Retirement contributions by a participating employer in the New York State and Local Retirement System as billed by OSC. These types of …
https://www.osc.ny.gov/local-government/publications/claims-auditing-process/payments-not-requiring-pre-auditState Agencies Bulletin No. 1451
… salary limit for members of TIAA-CREF (Plan Type 7Z) in Tiers 1 through 5. Background In accordance with Section 415 of the Internal Revenue code, … Affected Employees Employee who are members of TIAA-CREF in Tiers 1-5 Effective Date January 1, 2016 Eligibility …
https://www.osc.ny.gov/state-agencies/payroll-bulletins/state-agencies/1451-maximum-salary-limit-tiaa-cref-retirement-tiers-1-through-5-plan-typeTown of Union Vale - Payroll (2018M-31)
… health insurance overpayments identified included $19,400 for ineligible individuals. Direct supervisors did not always … over payroll to ensure paycheck amounts are accurate and for documented hours. Review all individuals on health …
https://www.osc.ny.gov/local-government/audits/town/2019/11/22/town-union-vale-payroll-2018m-31DiNapoli: MTA Financial Outlook Improved
… increases occurred as the Great Recession took a heavy toll on family finances. The MTA plans to raise fares and … 2016, the highest level since 1949. The Long Island Rail Road, Metro-North and the MTA’s bridges and tunnels are also … down long-term liabilities, or moderate future fare and toll increases. The MTA assumes that revenues will grow at …
https://www.osc.ny.gov/press/releases/2016/09/dinapoli-mta-financial-outlook-improvedState Agencies Bulletin No. 290
… has worked for more than one State agency during the year, in most circumstances, will receive one W-2. Workers' … supplemental payments will continue to be included in the W-2 statements. As instructed in Bulletin No. 274 dated October 10, 2001, in order for …
https://www.osc.ny.gov/state-agencies/payroll-bulletins/state-agencies/290-2001-w-2-year-end-processingState Agencies Bulletin No. 2295
… maximum amount for employees over age 50, their deferral election must be adjusted accordingly. For SUNY Agencies: … Tax Investment reflecting employees’ new biweekly deferral election. To stop the deduction, agencies must insert a new … in employees’ Savings Plans panel and select Terminate on Coverage Election panel. For New York State Education …
https://www.osc.ny.gov/state-agencies/payroll-bulletins/state-agencies/2295-supplemental-retirement-annuity-sra-and-tax-deferred-annuity-tdaState Comptroller DiNapoli Releases School District Audits
… New York State Comptroller Thomas P. DiNapoli today announced … Track state and local government spending at Open Book New York . Under State Comptroller DiNapoli’s open data … New York State Comptroller Thomas P DiNapoli today announced …
https://www.osc.ny.gov/press/releases/2022/06/state-comptroller-dinapoli-releases-school-district-audits-0DiNapoli: NYC Budget Benefits From Stronger Economy
… York City close its 2016 fiscal year budget gap and narrow the out-year budget gaps, according to an analysis of the city’s financial plan released today by New York State … York City close its 2016 fiscal year budget gap and narrow the outyear budget gaps according to an analysis of the citys …
https://www.osc.ny.gov/press/releases/2015/03/dinapoli-nyc-budget-benefits-stronger-economyDiNapoli: NYSLRS Announces Employer Contribution Rates for 2025-26
… in ERS and PFRS, and more than 300 different retirement plan combinations. In the SFY that ended March 31, 2024, … have earned.” Employer rates for NYSLRS are determined based on investment performance and actuarial assumptions … NYSLRS. DiNapoli also announced that NYSLRS had a funded ratio of 93.2% as of March 31, 2024. NYSLRS is consistently …
https://www.osc.ny.gov/press/releases/2024/09/dinapoli-nyslrs-announces-employer-contribution-rates-2025-26State Agencies Bulletin No. 1533
… maximum salary limit for members of TIAA (Plan Type 7Z) in Tiers 1 through 5. Background In accordance with Section 415 of the Internal Revenue code, … year. Affected Employees Employee who are members of TIAA in Tiers 1-5 Effective Date January 1, 2017 Eligibility …
https://www.osc.ny.gov/state-agencies/payroll-bulletins/state-agencies/1533-maximum-salary-limit-teachers-insurance-and-annuity-tiaa-retirement