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Borrowing Against Your Contributions – Police and Fire Plan
… You may borrow only once in any 90-day period. Prior to retirement, and 30 days after issuance, loans are fully … with an outstanding loan, the annuity portion of your retirement benefit will be permanently reduced . You cannot … reduction will be based on your age, the loan balance at retirement and type of retirement (service or disability). …
https://www.osc.ny.gov/retirement/publications/1512/borrowing-against-your-contributionsRetiring Before Age 62 – Police and Fire Plan
… Tier 2, 3, 5 and 6 members who retire before age 62 will have their benefit … Percentage of Reduction 55 27 56 24 57 21 58 18 59 15 60 12 61 6 62 0 It is important to know that once you retire with a reduced benefit, the …
https://www.osc.ny.gov/retirement/publications/1512/retiring-age-62Contributing Toward Your Retirement – Police and Fire Plan
… an annuity when you retire. There will be some exceptions. For example, PFRS members covered by a collective bargaining … 5.75% More than $100,000 6% There will be some exceptions. For example, PFRS members covered by a collective bargaining … may not contribute. … Police and Fire Plan information for PFRS Tier 1 2 3 Article 11 5 and 6 members under Sections …
https://www.osc.ny.gov/retirement/publications/1512/contributing-toward-your-retirementOrdinary Disability (Section 362) – Police and Fire Plan
… If you are unable to perform your duties because of permanent physical or mental incapacity, and have ten or more years of service credit, you may be eligible for an ordinary … If approved, this is a benefit equal to the greater of: 1/60th (1.66 percent) of your FAS for each year of …
https://www.osc.ny.gov/retirement/publications/1512/ordinary-disability-section-362Contributing Toward Your Retirement – Basic Plan with Increased-Take-Home-Pay (ITHP)
… your employer provides). Since you are contributing less of your own money to the Retirement System, the annuity portion of your retirement benefit will be smaller. However, when you …
https://www.osc.ny.gov/retirement/publications/1511/contributing-toward-your-retirementAbout the Record of Activities – Reporting Elected and Appointed Officials
… Can they claim all of that time because they cannot do other things? What do I do if an elected or appointed official refuses to submit … the busy season and two months of the less-busy season to get an accurate average. Rev. 5/22 Return to Top … Elected …
https://www.osc.ny.gov/retirement/employers/reporting-ea-officials/about-record-activitiesAbout Statement No. 68 – Governmental Accounting Standards Board
… The Governmental Accounting Standards Board (GASB) Statement … pension plans to report their proportionate share of the collective Net Pension Liability in their financial … on Statement No. 68, visit the GASB website or read the Office of the State Comptroller’s Division of Local …
https://www.osc.ny.gov/retirement/employers/gasb/about-statement-no-68About Statement No. 67 – Governmental Accounting Standards Board
… disclosures. Has no impact on NYSLRS’ Statement of Plan Net Position or Statement of Changes in Plan Net Position. For more information on …
https://www.osc.ny.gov/retirement/employers/gasb/about-statement-no-67Get Credit for All Your Public Service
Previous public employment or military service might qualify NYSLRS members for additional service credit
https://www.osc.ny.gov/retirement/members/get-credit-all-your-public-serviceDiNapoli: County Jail Inmates Received Improper Welfare and Unemployment Insurance Benefits
… Thomas P. DiNapoli’s office found that hundreds of county jail inmates received inappropriate payments totaling … auditors examined welfare payments made by Chemung, Onondaga, Orange, Schenectady and Warren counties from Jan. … 2013. Auditors found 313 inmates at the jails in Chemung, Onondaga, Orange and Schenectady counties received …
https://www.osc.ny.gov/press/releases/2013/10/dinapoli-county-jail-inmates-received-improper-welfare-and-unemployment-insurance-benefitsState Agencies Bulletin No. 748
… Affected Employees Merit Step payment eligible employees in Bargaining Unit 05 Effective Date(s) Merit Step payments … process the Merit Step payment. OSC will insert a row in the employee’s Job Data record using the Action/Reason … and 10/4/07 (Administration) for employees who are Active, on Paid Leave (except Sick Leave) or on Workers’ Compensation …
https://www.osc.ny.gov/state-agencies/payroll-bulletins/state-agencies/748-october-2007-merit-step-payments-employees-represented-public-employeesMonitoring of Not-for-Profit Cemeteries for Fiscal Stability and Adequate Facility Maintenance
… maintenance, and preservation of burial grounds for all not-for-profit cemetery corporations (cemeteries) in New York … of all 1,745 cemeteries under its jurisdiction. As a result, it cannot use the information to best focus its …
https://www.osc.ny.gov/state-agencies/audits/2017/07/11/monitoring-not-profit-cemeteries-fiscal-stability-and-adequate-facility-maintenanceSelected Aspects of Incident Intake and Investigation
… Special Needs (Center) met its responsibility to operate a hotline, establish a database of reported allegations and a … fully and timely and are referred to law enforcement when appropriate. The audit covered the period July 1, 2013 … Findings Although we were able to conclude that the Center does operate the required hotline and maintain the VPCR …
https://www.osc.ny.gov/state-agencies/audits/2017/03/06/selected-aspects-incident-intake-and-investigationOpinion 97-10
… would make annual payments to the contractor during the term of the agreement, with title to the structure passing to … fire district for nominal consideration at the end of the term. You ask whether a fire district, pursuant to General … be subject to competitive bidding requirements. During the term of the agreement, the fire district would make annual …
https://www.osc.ny.gov/legal-opinions/opinion-97-10Opinion 91-11
… the opinion. REFERENDUM -- Mandatory (local law increasing term of office of city engineer) LOCAL LAWS -- Referendum … mayor. Presently, a successor mayor may appoint a new city engineer after the expiration of the engineer's …
https://www.osc.ny.gov/legal-opinions/opinion-91-11What is a Defined Benefit Plan?
… by many private employers. Perhaps the greatest benefit is that, once you meet the minimum age and service … However, the biggest contributor to your pension plan is the New York State Common Retirement Fund . Over the past … may pay a set amount; or they may “match” all or part of what an employee contributes. Investments Contributions from …
https://www.osc.ny.gov/retirement/members/defined-benefit-planBorrowing Against Your Contributions – Special 20- and 25-Year Plans
… are fully insured in case you die before repaying them. How Much You Can Borrow The minimum loan is $25. The maximum loan … you are under age 59½ at the time, you may be required to pay a 10 percent penalty tax in addition to any ordinary …
https://www.osc.ny.gov/retirement/publications/1517/borrowing-against-your-contributionsDiNapoli: Medicaid Billing Errors Cost State More Than $1.5 Billion
… report found that from Jan. 1, 2015 through Dec. 31, 2019, claims totaling $28.5 million were paid for Medicaid … is included in the report. An audit released in July 2019 identified more than $102.1 million in improper managed … $51.3 million still needs to be recovered. Since the 2019 audit, auditors identified another $14.3 million in …
https://www.osc.ny.gov/press/releases/2021/08/dinapoli-medicaid-billing-errors-cost-state-more-15-billionNon-Revenue Service Vehicles and On-Rail Equipment
… retires/disposes of its non-revenue service Highway Fleet Vehicles, and whether LIRR performs preventive … This audit covered the period from January 2018 to April 2022. Background The MTA is responsible for developing … track on 11 different branches and extends from four major NYC terminals – Penn Station, Grand Central Madison, Atlantic …
https://www.osc.ny.gov/state-agencies/audits/2023/05/03/non-revenue-service-vehicles-and-rail-equipmentState Comptroller DiNapoli Releases Municipal Audits
… because the director has the ability to procure and pay for goods or services that may not be for valid authority …
https://www.osc.ny.gov/press/releases/2017/11/state-comptroller-dinapoli-releases-municipal-audits