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Administrative Hearings
… administrative hearing. If you are denied a benefit, you will receive a letter notifying you that your application or … request has been denied. If you wish to request a hearing, the NYSLRS Hearing Administration Bureau must receive your … hearing process is explained below. Requesting a Hearing When requesting a hearing, include your name, NYSLRS ID …
https://www.osc.ny.gov/retirement/members/administrative-hearingsInflation in the New York City Metropolitan Area
… week, the U.S. Bureau of Labor Statistics (BLS) released new data indicating consumer prices grew by 8.5 percent nationally and 6.1 percent in the New York City Metropolitan Area (NYC metro area) in March 2022 … most steeply for energy, transportation, recreation and food. While some price increases may moderate in months to …
https://www.osc.ny.gov/reports/inflation-new-york-city-metropolitan-areaState Agencies Bulletin No. 862
… such as prevention of a salary overpayment for a paycheck in the process of being confirmed, reconciliation of NYSTEP …
https://www.osc.ny.gov/state-agencies/payroll-bulletins/state-agencies/862-new-telephone-hotline-earnings-payroll-related-emergenciesDiNapoli: Independent Review Finds State Pension Fund Strong, but Warns of Risks Posed by Limited Staffing
… are market challenges and risks that require the Fund to increase its sophistication, bring more investment expertise …
https://www.osc.ny.gov/press/releases/2016/07/dinapoli-independent-review-finds-state-pension-fund-strong-warns-risks-posed-limited-staffingDeath Benefits
… the death certificate, we’ll mail information about death benefits, and any needed forms, to your beneficiaries. For … System (ERS) Tiers 2, 3, 4, 5 and 6 Your last year’s earnings multiplied by your years of service credit, not to … in special 20- or 25-year plans Three times your last year’s earnings raised to the next highest multiple of $1,000. …
https://www.osc.ny.gov/retirement/members/death-benefitsDirect Deposit Program
… Funds Transfer Direct Deposit Enrollment Application (RS6370) and have your joint account holder sign the form. … Funds Transfer Direct Deposit Enrollment Application (RS6370) and submitting it using our secure contact form or by … Funds Transfer Direct Deposit Enrollment Application (RS6370) and have your joint account holder sign the form. …
https://www.osc.ny.gov/retirement/retirees/direct-deposit-programCost-of-Living Adjustment – Police and Fire Plan
… including age and number of years retired, your retirement benefit will permanently increase each year. This adjustment, subject to pension caps and limitations, is 50 percent of the previous … never less than 1 percent or more than 3 percent of your benefit. The adjustment percentage is applied only to the …
https://www.osc.ny.gov/retirement/publications/1512/cost-living-adjustmentAdditional Service Credit for Sick Leave (Section 341[j]) – En-Con Police Officers Plan
… Section 341(j) of the Retirement and Social Security Law, you may receive service credit for your unused, unpaid sick leave days at retirement. To be eligible for this benefit, …
https://www.osc.ny.gov/retirement/publications/1822/additional-service-credit-sick-leave-section-341jCost-of-Living Adjustment – Basic Plan with Increased-Take-Home-Pay (ITHP)
… including age and number of years retired, your retirement benefit will permanently increase each year. This adjustment, subject to pension caps and limitations, is 50 percent of the previous … never less than 1 percent or more than 3 percent of your benefit. The adjustment percentage is applied only to the …
https://www.osc.ny.gov/retirement/publications/1511/cost-living-adjustmentRetiring with an Outstanding Loan – State Police Plan
… retire with an outstanding loan, the annuity portion of your retirement benefit will be permanently reduced . You … will be based on your age, your loan balance at retirement and the type of retirement (service or disability). The loan …
https://www.osc.ny.gov/retirement/publications/1518/retiring-outstanding-loanCost-of-Living Adjustment – Career Plan
… including age and number of years retired, your retirement benefit will permanently increase each year. This adjustment, subject to pension caps and limitations, is 50 percent of the previous … never less than 1 percent or more than 3 percent of your benefit. The adjustment percentage is applied only to the …
https://www.osc.ny.gov/retirement/publications/1642/cost-living-adjustmentAdditional Service Credit for Sick Leave (Section 341[j]) – Regional State Park Police Plan
Regional State Park Police Plan information for PFRS Tier 1 2 3 5 and 6 members covered by Section383a Covers pension disability and death benefits
https://www.osc.ny.gov/retirement/publications/1867/additional-service-credit-sick-leave-section-341jCost-of-Living Adjustment – New Career Plan
… including age and number of years retired, your retirement benefit will permanently increase each year. This adjustment, subject to pension caps and limitations, is 50 percent of the previous … never less than 1 percent or more than 3 percent of your benefit. The adjustment percentage is applied only to the …
https://www.osc.ny.gov/retirement/publications/1515/cost-living-adjustmentCost-of-Living Adjustment – Non-Contributory Plan with Guaranteed Benefits
… including age and number of years retired, your retirement benefit will permanently increase each year. This adjustment, subject to pension caps and limitations, is 50 percent of the previous … never less than 1 percent or more than 3 percent of your benefit. The adjustment percentage is applied only to the …
https://www.osc.ny.gov/retirement/publications/1513/cost-living-adjustmentAbout the Common Retirement Fund – What Every Employer Should Know
… stakeholder, it is important for you to be familiar with the Common Retirement Fund (Fund), which holds and invests the money … the Fund, which was established to hold all the assets and income of NYSLRS in a single unified investment program. For …
https://www.osc.ny.gov/retirement/employers/partnership/about-common-retirement-fundLegislative and Executive Retirement Plan For Tier 1 and 2 Members (Section 80-a)
… include an annuity purchased by required contributions, plus interest. If you made any voluntary contributions to the … one-half (50%)of your FAS for 25 years of service credit, plus 1/60th (1.66%) for each additional year of service … each year of creditable legislative or executive service, plus 1/50th (2%) of your FAS for the remaining years of …
https://www.osc.ny.gov/retirement/publications/legislative-and-executive-retirement-plan-tier-1-and-2-members-section-80NYS Common Retirement Fund Announces First Quarter Results
The New York State Common Retirement Funds Fund overall estimated value in the first quarter of the State Fiscal Year 20182019 was $2092 billion based on a 153 percent investment return over the threemonth period ending June 30 2018
https://www.osc.ny.gov/press/releases/2018/08/nys-common-retirement-fund-announces-first-quarter-resultsDiNapoli: Tennessee Woman Sentenced for Stealing Deceased Mother's NYS Pension Checks
… sentencing of Leslie Schwinzer, of Knoxville, Tennessee, for stealing pension checks that had been issued to her deceased mother. Schwinzer, 46, was sentenced on July 14, 2022 to pay over $56,000 in restitution and serve … at Knoxville. “Leslie Schwinzer lied about her mother’s death in order to collect her pension checks and steal from …
https://www.osc.ny.gov/press/releases/2022/07/dinapoli-tennessee-woman-sentenced-stealing-deceased-mothers-nys-pension-checksPension Contribution Rates to Decrease for Fiscal Year 2015-16
… percent of payroll to 24.7 percent of payroll. “The state pension fund’s solid investment performance has delivered another … are still being felt around the country, but New York’s pension fund is well-funded, is steadily recovering and will …
https://www.osc.ny.gov/press/releases/2014/09/pension-contribution-rates-decrease-fiscal-year-2015-16NYS Common Retirement Fund Reports Second Quarter Results
… percent for the three-month period ending Sept. 30, 2020, and ended the quarter with an estimated value of $226.4 … need safety nets.” The Fund's estimated value reflects benefits of $3.39 billion paid out during the quarter. Its … nation. The Fund's fiscal year ends March 31. Find out how your government money is spent at Open Book New York . Track …
https://www.osc.ny.gov/press/releases/2020/11/nys-common-retirement-fund-reports-second-quarter-results