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What is a Defined Benefit Plan?
… As a NYSLRS member, you are part of a defined benefit plan , also known as a traditional … you will receive a monthly pension payment for the rest of your life. How Defined Benefit Plans Work Defined … the Fund’s investment returns have covered 75 percent of the cost of pensions. With defined benefit plans, …
https://www.osc.ny.gov/retirement/members/defined-benefit-planState Comptroller DiNapoli Releases Audits
… following audits and examinations have been issued: Office of General Services (OGS) and the State Education Department … SED is responsible for the monitoring and oversight of NYSID and for ensuring NYSID is in compliance with all … June 2016 found that SED provided only minimal oversight of NYSID offering little assurance NYSID was awarding …
https://www.osc.ny.gov/press/releases/2017/11/state-comptroller-dinapoli-releases-auditsDiNapoli Announces State Contract and Payment Actions for May 2015
… to provide current information about the number and types of contracts and payments by the state. This builds on his … Book New York website. Major Contracts Approved Department of Agriculture and Markets NY State Fair - 28 concession … estimated to bring in $692,000 in revenue. Office of Children and Family Services - Healthy Families New York …
https://www.osc.ny.gov/press/releases/2015/06/dinapoli-announces-state-contract-and-payment-actions-may-2015DiNapoli: Funds Dedicated for Highway & Bridge Capital Projects Continue to be Diverted for Operating and Debt Costs
… and bridges in good repair. Now, more than three-quarters of this money is siphoned off to pay for borrowing and operating costs of state agencies, leaving fewer dollars for improving our … transportation infrastructure and should restore the use of this fund for capital purposes.” Created in 1991, the fund …
https://www.osc.ny.gov/press/releases/2014/02/dinapoli-funds-dedicated-highway-bridge-capital-projects-continue-be-diverted-operating-and-debtState Comptroller DiNapoli Releases Municipal & School Audits
… and resume essential operations in a timely manner. Town of Marion – Misappropriation of Justice Court Cash Collections (Wayne County) The justices and board did not provide adequate oversight of court financial activities. As a result, the former court …
https://www.osc.ny.gov/press/releases/2024/02/state-comptroller-dinapoli-releases-municipal-school-auditsState Agencies Bulletin No. 961
… constitutional requirements, only applies to new members of TRS who first join on or after January 1, 2010. Some of the significant changes impacting Tier 5 members include, but are not limited to: Employee contributions of 3.5% of pay for all years of service Ten year credited …
https://www.osc.ny.gov/state-agencies/payroll-bulletins/state-agencies/961-new-tier-5-benefit-structure-new-york-state-teachers-retirement-systemAndover Central School District – Internal Controls Over Reserve Funds (2013M-162)
… Purpose of Audit The purpose of our audit was to review internal controls over reserve … Steuben Counties. The District is governed by the Board of Education composed of five elected members. The District's …
https://www.osc.ny.gov/local-government/audits/school-district/2013/09/13/andover-central-school-district-internal-controls-over-reserve-fundsDiNapoli: One-in-Four Homeless Shelter Clients with Serious Mental Health Issues Were Not Placed in a Mental Health Shelter
… The NYC Department of Homeless Services (DHS) is falling short in meeting the needs of homeless New Yorkers, particularly those with mental … DiNapoli. The audit examined DHS’ assessment and placement of clients and found that far too often the assessments were …
https://www.osc.ny.gov/press/releases/2022/12/dinapoli-one-four-homeless-shelter-clients-serious-mental-health-issues-were-not-placed-mental-healthDiNapoli Announces State Contract and Payment Actions for September 2015
… and payments were accelerated in order to allow an upgrade of the Statewide Financial System. Cumulatively through … to provide current information about the number and types of contracts and payments by the state. This builds on his … is updated quarterly. Major Contracts Approved Department of Corrections and Community Supervision $11.9 million with …
https://www.osc.ny.gov/press/releases/2015/10/dinapoli-announces-state-contract-and-payment-actions-september-2015State Comptroller DiNapoli Releases Municipal Audits
… the following local government audits were issued. City of Buffalo – Budget Review (Erie County) Auditors completed a review of the city’s proposed 2026-27 budget and determined the general fund will have a projected budget deficit of approximately $103 million. City officials have …
https://www.osc.ny.gov/press/releases/2026/05/state-comptroller-dinapoli-releases-municipal-audits-1DiNapoli: Farms Generated $5.7 Billion for New York Economy
… Thomas P. DiNapoli. “Agriculture is an essential part of New York’s economy,” DiNapoli said. “Farms generate billions of dollars in sales, provide jobs and enhance our quality of life. But farmers face challenges including fluctuating …
https://www.osc.ny.gov/press/releases/2019/08/dinapoli-farms-generated-57-billion-new-york-economyOverview – Membership and Enrollment
… New York State and Local Retirement System (NYSLRS) is one of the largest retirement systems in the United States with … and beneficiaries. NYSLRS has long been recognized as one of the best-managed and best-funded public retirement systems … The Police and Fire Retirement System (PFRS). Benefits of NYSLRS Membership NYSLRS membership provides many benefits …
https://www.osc.ny.gov/retirement/employers/membership-enrollment/overviewCayuga County Probation Department – Internal Controls Over Financial Operations (2013M-171)
… Purpose of Audit The purpose of our audit was to examine the Department’s internal controls over the collection and disbursement of all moneys for which the Department is responsible for the …
https://www.osc.ny.gov/local-government/audits/county/2013/09/27/cayuga-county-probation-department-internal-controls-over-financial-operationsBrighter Choice Charter Middle School for Boys – Financial Operations (2013M-348)
… Purpose of Audit The purpose of our audit was to evaluate the effectiveness of the School’s compact contract with the Foundation for the …
https://www.osc.ny.gov/local-government/audits/school-district/2014/02/07/brighter-choice-charter-middle-school-boys-financial-operations-2013m-348Business Partners
… please see the descriptions below. Hearings One of the responsibilities of the Comptroller, as administrator of NYSLRS and trustee of the Common Retirement Fund, is to …
https://www.osc.ny.gov/retirement/business-partnersOpinion 90-34
… This opinion represents the views of the Office of the State Comptroller at the time it was rendered. The … fire insurance tax moneys. The distribution and use of foreign fire insurance tax moneys are governed generally …
https://www.osc.ny.gov/legal-opinions/opinion-90-34State Comptroller DiNapoli Releases Audits
… following audits and examinations have been issued: Office of Children and Family Services (OCFS): Oversight of Residential Domestic Violence Programs (2017-S-16) Based on the amount and quality of information provided by OCFS, auditors determined OCFS …
https://www.osc.ny.gov/press/releases/2018/05/state-comptroller-dinapoli-releases-auditsDiNapoli Urges NYC to Shore Up Rainy-Day Fund
… recent changes in state and local law enabling the use of these funds, called on the city to define how these … pandemic and changes to state and local laws on the use of reserves necessitates the need for clear policies for how … year (FY) 2020. Officials subsequently approved a deposit of $500 million in FY 2022, which will bring the total …
https://www.osc.ny.gov/press/releases/2021/11/dinapoli-urges-nyc-shore-rainy-day-fundOpinion 88-64
… This opinion represents the views of the Office of the State Comptroller at the time it was rendered. The … in which the city is located. The question arises because of the potential savings to the housing authority by virtue …
https://www.osc.ny.gov/legal-opinions/opinion-88-64DiNapoli Announces State Contract and Payment Actions for September 2016
… to provide current information about the number and types of contracts and payments by the state. This builds on his … expenses for calendar years 2013 through the third quarter of 2016, are posted in the Comptroller's reading room. This … $90,000 with International Roll Call Corp. for maintenance of the Assembly electronic voting system. Office of Children …
https://www.osc.ny.gov/press/releases/2016/10/dinapoli-announces-state-contract-and-payment-actions-september-2016