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Employer E-News Archive — 2024
… For the latest retirement news and information, subscribe to E-News for Members & Retirees . December 2024 Reminder: … The latest Retirement System news for NYSLRS employers …
https://www.osc.ny.gov/retirement/publications/employer-e-news-archive-2024File Your Vendor Responsibility Questionnaire
… questionnaire using the same online service. How to get started Log in or enroll in the VendRep System to file or …
https://www.osc.ny.gov/state-vendors/vendrep/file-your-vendor-responsibility-questionnairePayment for Service Credit – Article 14 Benefits
… covered by Article 14, you will usually be required to pay for service currently not credited to you. There are two … — mandatory and optional. Mandatory costs are required for service credit you earned as a member but for which you made no (or insufficient) contributions. …
https://www.osc.ny.gov/retirement/publications/1644/payment-service-creditCredit for Previous or Military Service – Non-Contributory Plan with Guaranteed Benefits
… previous service may be lost or destroyed with the passage of time. Prior Service Prior service is any period of time you received salary from a participating employer … in the Retirement System. Service Before Your Date of Membership You may receive credit for working for a …
https://www.osc.ny.gov/retirement/publications/1513/credit-previous-or-military-serviceAdditional Service Credit for Sick Leave (Section 341[j]) – Regional State Park Police Plan
… Under Section 341[j] of the Retirement and Social Security Law (RSSL), you may … For example, if you have four years and ten months of service credit and you need five years to be vested, your … benefit calculation. For example, if you have 19½ years of service credit but your pension will improve substantially …
https://www.osc.ny.gov/retirement/publications/1867/additional-service-credit-sick-leave-section-341jContributing Toward Your Retirement – Special 20- and 25-Year Plans
… however because you made post-tax contributions, a portion of your pension would be non-taxable. To begin making … you may be taxed on more than just the interest portion of your refund, and you may also be subject to a tax penalty. … questions. Tier 5 Members You must contribute 3 percent of your reportable earnings toward your retirement benefits …
https://www.osc.ny.gov/retirement/publications/1517/contributing-toward-your-retirementService Retirement Benefit – Regional State Park Police Plan
… You may retire at any age after completing 25 years of regional state park or New York State police officer … state park police officer. The Benefit With 25 years of creditable service, your retirement benefit will equal one-half (50 percent) of your FAS. For each year of service beyond 25 years, …
https://www.osc.ny.gov/retirement/publications/1867/service-retirement-benefitPartial Lump Sum Payment – En-Con Police Officers Plan
… a one-time lump sum payment. The lump sum payment is made when your retirement benefit is finalized. Eligibility To be … a disability retirement).* Choosing a Lump Sum Payment When you file for retirement, if you are eligible for PLS, we …
https://www.osc.ny.gov/retirement/publications/1822/partial-lump-sum-paymentWorld Trade Center Presumption – Police and Fire Plan
… efforts, and you were employed by a participating employer of NYSLRS or another New York public retirement system at that time, you should be aware of the benefits provided by the World Trade Center …
https://www.osc.ny.gov/retirement/publications/1512/world-trade-center-presumptionYour Record of Activities – Understanding Your Responsibilities: Elected & Appointed Officials
… employees). But, if you don’t, determining the number of days you’ve worked requires a different process. As of January 1, 2016, when you begin a new or subsequent term of office, you are required to complete a three-month record … Requirements of the record of activities ROA for elected and appointed …
https://www.osc.ny.gov/retirement/members/ea-officials/your-record-activitiesApplying for Previous or Military Service Credit – Regional State Park Police Plan
… Please include as much information as you can about the period of employment for which you are seeking credit. We will determine your eligibility to receive the credit and any cost involved. Requesting credit for your … benefit, you must request this credit while you are on the payroll of a participating employer. If you receive a …
https://www.osc.ny.gov/retirement/publications/1867/applying-previous-or-military-service-creditAnnual Employer Contributions – Employer Contributions and Rates
… for the invoice due approximately 18 months later. The 2026 invoice (current year’s invoice for the payment due February 1, 2026) uses: The employees’ earnings reported to NYSLRS by … in November, we provide your final annual invoice . The 2027 invoice (next year’s invoice for the payment due …
https://www.osc.ny.gov/retirement/employers/contributions/annual-employer-contributionsOvertime Limits for Tier 5
… calculation of your final average earnings (FAE) , which is used to determine your NYSLRS pension. If you earn more … (Return to Top) PFRS Tier 5 Members Your overtime limit is 15 percent of your pensionable, non-overtime earnings … in the calculation of your final average earnings which is used to determine your pension is subject to an annual …
https://www.osc.ny.gov/retirement/members/overtime-limits-tier-5Understanding Your GASB Report – Governmental Accounting Standards Board
… more information, refer to the 2024 Actuarial Assumptions report. Employer’s Contribution The amount reflects an … used in the Governmental Accounting Standards Board GASB report issued by NYSLRS for employers to comply with …
https://www.osc.ny.gov/retirement/employers/gasb/understanding-your-gasb-reportPlanning
… You need to begin planning your financial future now. The more time you have to do this, the easier it will be for you to reach your goals. … (Return to Top) Step 3: Calculate Your Expenses Determine if your retirement income will be enough to meet your …
https://www.osc.ny.gov/retirement/members/planningCost-of-Living Adjustment – En-Con Police Officers Plan
… (COLAs) when you are: Age 62 or older and retired for five or more years; Age 55 or older and retired for ten or more years; or Receiving a disability pension for five or more years. When you die, if you selected an … EnCon Police Officers Plan information for PFRS Tier 1 2 3 5 and 6 members covered by Section 383b …
https://www.osc.ny.gov/retirement/publications/1822/cost-living-adjustmentHow to Report Days Worked – Legacy Reporting
… impact on their retirement benefits. We use days worked to determine service credit, which is the basis for benefit …
https://www.osc.ny.gov/retirement/employers/legacy-reporting/how-report-days-workedAbout Offering a Retirement Plan – What Every Employer Should Know
… What every employer should know about NYSLRS what it means to participate as an employer …
https://www.osc.ny.gov/retirement/employers/partnership/about-offering-retirement-planOverview – When Employees Retire
… plan, they are eligible for a service retirement benefit . Disability Retirement Benefits If an employee becomes … a physical or mental condition, they may be eligible for a disability retirement benefit . As an employer, you can file … Employer’s Role After the employee retires and you make final payment for any accrued unused, unpaid sick leave, …
https://www.osc.ny.gov/retirement/employers/when-employees-retire/overviewMinority- and Women-Owned Business Enterprises (MWBEs)
… Thomas P. DiNapoli is committed to advancing minority- and women-owned businesses by: promoting State contracting, subcontracting and purchasing opportunities to MWBEs; providing the … MWBEs need to pursue State business opportunities; and requiring that our office contract with qualified MWBEs …
https://www.osc.ny.gov/state-vendors/resources/minority-and-women-owned-business-enterprises-mwbes