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Overview – Non-Contributory Plan with Guaranteed Benefits

…   Your pension is based on your years of credited service and your final average salary (FAS). For Tier 1, 2, 3 and 5 members, FAS is the average of the wages you earned during any 36 consecutive months of service when your earnings were highest. For Tier 6 …

One-Year FAS – Basic Plan with Increased-Take-Home-Pay (ITHP)

… calculation provides a higher FAS. (Note: This benefit is generally not available to Tier 6 members.) The one-year … The calculation of a one-year FAS can include, but is not limited to, the following types of payments: Regular … the total amount of overtime and noncompensatory overtime is limited to 15 percent of your salary. …

Overview – Basic Plan with Increased-Take-Home-Pay (ITHP)

…   Your pension is based on your years of credited service and your final average salary (FAS). For Tier 1, 2, 3 and 5 members, FAS is the average of the wages you earned during any 36 consecutive months of service when your earnings were highest. For Tier 6 …

One-Year FAS – Police and Fire Plan

Overview – Police and Fire Plan

…   Your pension is based on your years of credited service and your final average salary (FAS). For Tier 1, 2, 3 and 5 members, FAS is the average of the wages you earned during any 36 consecutive months of service when your earnings were highest. For Tier 6 …

See if any of NY's $12.5 Billion in Unclaimed Funds is Yours at Upcoming Statewide Events

… New Yorkers can find out if they are owed some of the state’s … State Comptroller Thomas P. DiNapoli announced today. “New York has $12.5 billion in unclaimed fund accounts. We … its rightful owners,” DiNapoli said. “The money belongs to New Yorkers. We want to give it back.” Representatives from …

Applying for Previous or Military Service Credit – State University Police Plan

… To receive credit for previous or military service, send a written request … much information as you can about the period of employment for which you are seeking credit. We will determine your … the credit and any cost involved. Requesting credit for your previous public employment as early in your career …

DiNapoli: State Pension Fund Valued at $267.7 Billion at End of First Quarter

… DiNapoli said. “Fortunately, our diverse portfolio is built on long-term sustainable investments that can weather such ups and downs and is one of the reasons we are one of the nation’s strongest … (7.76%). The Fund’s long-term expected rate of return is 5.9%. DiNapoli initiated quarterly performance reporting …

DiNapoli: State Pension Fund Valued at $274.6 Billion at End of Second Quarter

… the second quarter,” DiNapoli said. “Our diverse portfolio is built on long-term sustainable investments that can weather the market’s ups and downs, and is one of the reasons we remain one of the nation’s strongest … (8%). The Fund’s long-term expected rate of return is 5.9%. DiNapoli initiated quarterly performance reporting …

Debt Approvals for Public Authorities, Municipalities, School Districts and District Corporations

… [email protected] ) Various State statutes require certain public authorities seeking to sell their notes and bonds at … of the terms and conditions of certain municipal and public authority debt issuances. Finally, municipalities, … and conditions of all notes and bonds sold by certain public authorities at p …

About this Report – 2023 Financial Condition Report

… fills an information need not met by the traditional, more detailed financial reports issued by the Office of the … was honored for the 26th year when it received the Award for Outstanding Achievement in Popular Annual Financial … from the Government Finance Officers Association for the 2022 Financial Condition Report . …

X.10 Record Retention for Vendor Records – X. Guide to Vendor/Customer Management

… Comptroller’s (OSC) record retention requirements related to vendor registration in the Statewide Financial System (SFS). OSC’s auditors will require access to documentation from the Business Unit to support information that is entered into the Statewide … Comptrollers OSC record retention requirements related to vendor registration in the Statewide Financial System SFS …

About this Report – 2022 Financial Condition Report

… This report provides citizens with an overview of the financial … information in an easy-to-understand format. The report also presents basic information on trends in State … economic and demographic trends affecting the State. This report fills an information need not met by the traditional, …

DiNapoli: MTA's Future Unthinkable Without Aid From Washington

… solve them.   “The MTA is the economic lifeblood of the NYC region. I am calling on our civic and business leaders to …

Overview – When Employees Retire

… directly to NYSLRS. Service Retirement Benefits Once an employee meets the minimum service credit and age … retirement benefit . Disability Retirement Benefits If an employee becomes permanently disabled and cannot perform … An overview for employers of initial steps when an employee …

State Agencies Bulletin No. 2142

… (k) (6) (D) (ii) will increase to $330,000 for the 2023 calendar year for TRS Tier 5 plan participants. In accordance … effective January 1, 2010. This amount increases each calendar year thereafter by three percent. Effective Dates: … Questions regarding this bulletin may be directed to the Payroll Retirement mailbox. …

State Agencies Bulletin No. 2251

… Purpose: The purpose of this bulletin is to notify agencies of the 2024-25 school year maximum salary … 408 (k) (3) (C), and 408 (k) (6) (D) (ii) will increase to $345,000 for the 2024-25 school year for TRS Tier 5 plan … July 11, 2024. OSC Actions: OSC will update PayServ to reflect the Maximum Salary Limit for school year 2024-25. …

State Agencies Bulletin No. 2351

… 5 TRS members. Affected Employees: Tier 5 members of TRS Plan Type 86 are affected. Background: In accordance with … to $350,000 for the 2025-26 school year for TRS Tier 5 plan participants. In accordance with Chapter 504 of the Laws …

XIV.14.E Recording General Capital Assets – XIV. Special Procedures

… 10-12 years no depreciation 20-75 years A renovation is a project performed on an already existing component while an improvement is the addition of a new component where one did not … will be retired if the actual cost of the renovation is 75% or more of the current replacement cost of the …

Accounts Payable Advisory No. 52

… Subject: The purpose of this section is to provide guidance to ensure that agencies receive the goods and services they ordered in the proper condition … The purpose of this section is to provide guidance to ensure that …