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What is a Defined Benefit Plan?
… several advantages over the 401(k)-style plans offered by many private employers. Perhaps the greatest benefit is that, once you meet the minimum age and service … a monthly pension payment for the rest of your life. How Defined Benefit Plans Work Defined benefit pension plans, …
https://www.osc.ny.gov/retirement/members/defined-benefit-planCapital Asset Management (Follow-Up)
… as of March 31, 2025, with OGS’ reporting obligation at $20 billion. According to OGS officials, 55 State agencies …
https://www.osc.ny.gov/state-agencies/audits/2025/10/02/capital-asset-management-followState Agencies Bulletin No. 2398
… amount will increase to $24,500.00 for calendar year 2026. An additional deferment is available to employees age … in accordance with the current year Agency Submission Schedule . The effective date, labeled as the Deduction Begin … in accordance with the current year Agency Submission Schedule . The effective date, labeled as the Deduction Begin …
https://www.osc.ny.gov/state-agencies/payroll-bulletins/state-agencies/2398-supplemental-retirement-annuity-sra-and-tax-deferred-annuity-tdaCUNY Bulletin No. CU-750
… the CUNY rate increases for Plumbers, Supervisor Plumbers, Plumber’s Helper Thermostat Repairers and Supervisor … Affected Employees: CUNY employees in the titles of Plumber, Supervisor Plumber, Plumber’s Helper, Thermostat Repairer and Supervisor …
https://www.osc.ny.gov/state-agencies/payroll-bulletins/city-university-new-york/cu-750-cuny-retroactive-salary-rate-increases-plumbers-supervisorSeaford Union Free School District – Capital Assets (2024M-112)
… to establish accountability and provide district officials with the information needed to develop controls and … the District’s inventory list. We located the 20 computers with District officials, and determined that 15 graphics … as active assets. Additionally, one asset (a tablet) with an estimated cost of $642 2 was not recorded on the …
https://www.osc.ny.gov/local-government/audits/school-district/2025/11/21/seaford-union-free-school-district-capital-assets-2024m-112Division of Housing and Community Renewal Bulletin No. DH-11
… Performance Advance based on available information at the close of Pay Period 25. This will give Agencies time …
https://www.osc.ny.gov/state-agencies/payroll-bulletins/housing-and-community-renewal/dh-11-april-1-2004-performance-advances-rent-regulationDiNapoli: 23 School Districts Designated in Fiscal Stress
… non-public schools in a district. Although this had little impact on many districts, for a few, this meant they …
https://www.osc.ny.gov/press/releases/2022/01/dinapoli-23-school-districts-designated-fiscal-stressState Comptroller DiNapoli Releases Municipal Audits
… adequate assurance that goods and services are purchased at the best price. Village of Pelham – Information Technology …
https://www.osc.ny.gov/press/releases/2017/04/state-comptroller-dinapoli-releases-municipal-audits-0Borrowing Against Your Contributions – Special 20- and 25-Year Plans
… against your contributions: You must be in active service and have at least one year of member service credit. … and interest within five years. Loans are repaid through payroll deductions. You may borrow only once in any 90-day … before applying for a taxable loan from NYSLRS. To Apply Online: Retirement Online is the fastest, most convenient way …
https://www.osc.ny.gov/retirement/publications/1517/borrowing-against-your-contributionsState Agencies Bulletin No. 2419.1
… the Retiree Indicator checkbox in PayServ to a dropdown menu which will provide options to more accurately identify … in special retirement populations. The new dropdown menu will include the following: Dropdown Menu Option Automated Interface Code Description None N/A …
https://www.osc.ny.gov/state-agencies/payroll-bulletins/state-agencies/24191-enhanced-payroll-reporting-new-york-state-and-local-retirement-systemDirect Deposit Program
… deposit is fast, convenient and secure. Sign up for direct deposit now and get your money sooner. Keep Your … by mail. Please note, using a paper form will take longer for the information to reach us, and it may take up to 60 … representative’s signature (Return to Top) Sign Up for Direct Deposit With direct deposit, your pension payment …
https://www.osc.ny.gov/retirement/retirees/direct-deposit-programThe Increasing Threat of Identity Theft
… scammers attempt to victimize Erie County DA,” The Buffalo News , March 11, 2021, available at …
https://www.osc.ny.gov/reports/increasing-threat-identity-theftXII.5.F Payment Dates and Terms Overview – XII. Expenditures
… default Basis Date must contact the VMU at [email protected] with such request and reasons in support of that request. For … covered by the proper invoice, whichever is later, or (c) with regard to final payments on highway construction contracts, the date determined in accordance with the Highway Law §38 (7) (g). Agencies document the …
https://www.osc.ny.gov/state-agencies/gfo/chapter-xii/xii5f-payment-dates-and-terms-overviewState Agencies Bulletin No. 2052
… positions during the vesting period must be less than $62,500. Payments using an overtime rate, such as overtime and … Description Overtime Rate Per Hour HO1 HealthCareBonus$500 OT .00075 $0.38 HO2 HealthCareBonus$1000 OT .00075 $0.75 … HealthCareBonus$1500 OT .00075 $1.13 H1O HealthCareBonus$500 OT .00072 $0.36 H2O HealthCareBonus$1000 OT .00072 $0.72 …
https://www.osc.ny.gov/state-agencies/payroll-bulletins/state-agencies/2052-health-care-and-mental-hygiene-worker-bonuses-state-employeesOpinion 89-22
… conditions at an intersection of a town highway and a county road located outside a village, the town has a … no similar duty with respect to the intersection of two county roads located outside a village, unless the town … wholly within a town, between (1) a town highway and a county road and (2) two county roads. You also ask whether a …
https://www.osc.ny.gov/legal-opinions/opinion-89-22Opinion 2000-4
… SERVICE LAW, §201(4); RETIREMENT AND SOCIAL SECURITY LAW, §113, 470: A school district is not prohibited from … of section 201(4) of the Civil Service Law and sections 113 and 470 of the Retirement and Social Security Law, … law or restrictive public policy ( Board of Education v Assoc. Teachers of Huntington , 30 NY2d 122, 331 NYS2d 17; …
https://www.osc.ny.gov/legal-opinions/opinion-2000-4Unified Court System Bulletin No. UCS-359
… 2025 Employees who transferred into a judicial position with a Comp Rate Code of LEG on 12/19/2024 or later Judges or … page using Earnings Code JYA (Judges Year End Adjustment) with the following information: Earnings Begin Date: … Entry page using Earnings Code RGO (Regular Pay Override) with the following information: Earnings Begin Date: …
https://www.osc.ny.gov/state-agencies/payroll-bulletins/unified-court-system/ucs-359-2025-year-end-adjustment-judges-and-justices-unified-courtState Agencies Bulletin No. 817
… procedures for the payment of Location Pay, Location Pay Mid-Hudson, Inconvenience Pay and Overtime Adjustments for … the Laws of 2008 provides for Location Pay, Location Pay Mid Hudson and Inconvenience Pay retroactive to April 1, 2007 … Pay Effective 4/1/07, seasonal employees in New York City, Nassau, Rockland, Suffolk and Westchester counties are …
https://www.osc.ny.gov/state-agencies/payroll-bulletins/state-agencies/817-location-pay-location-pay-mid-hudson-and-inconvenience-pay-seasonalState Agencies Bulletin No. 829
… who work 8 hour days and are paid 1,520 straight time hours during a fiscal year are entitled to a lump sum payment … following the period in which the employee reached 1,520 hours. In addition, employees who have qualified for the lump … lump sum payment equal to the number of straight time hours paid over 1,520 at an hourly rate of $1.45 per hour. …
https://www.osc.ny.gov/state-agencies/payroll-bulletins/state-agencies/829-location-pay-location-pay-mid-hudson-and-inconvenience-pay-seasonalComptroller DiNapoli Releases School Audits
… the Albion Central School District , Blind Brook-Rye Union Free School District , Copenhagen Central School District , Eastchester Union Free School District , Middle Country Central School District … in the debt service fund and improperly encumbered $100,000. These practices allowed the district to appear that …
https://www.osc.ny.gov/press/releases/2016/06/comptroller-dinapoli-releases-school-audits