The State of New York, its officers, employees, and/or agents are not liable to you, or to third parties, for damages or losses of any kind arising out of, or in connection with, the use or performance of such information. Moving? There may be a three-to-four-week lag from the time deductions are sent to State Payroll and are applied to an employees paycheck. Filling out the secure form allows our representatives to safely contact you about your personal account information. Go to SUNY Retirement@Work and set up your account. Tell us more about you to receive content related to your area or interests. Copyright 2023 Tier 3 & 4 Members: When Is The Right Time To Retire? During the enrollment process, you must enter a job code for the employee. You can manage your direct deposit information, update your federal tax withholding, view your account details and pension payments, update your contact information, view or update death benefit beneficiaries and create an income verification letter. 25 Years of Credit If you are a Tier 5 member, the pension factor used in your benefit calculation will increase from 1.67% per year to 2% per year. These are messages from NYSLRS that provide information youll need about your employees, such as a start or stop notice for an employees loan or service credit purchase (SCP) deduction. Thats great and ok. Any idea when I can get a response about a service credit purchase? Final Average Salary. Most Tier 2 6 members can use this calculator. The Member Contribution Rates page provides you with the employees correct date of membership, benefit plan, contribution rate, and the date the contribution rate became effective. The New York State Office of the State Comptroller's website is provided in English. From April 1, 2012, through March 31, 2015, almost 96,000 members joined the New York State and Local Employees' Retirement System (NYSLRS) under Tier 6. If you have the payroll security role, you will receive notifications about employee deficiencies so you can correct them. 2023 The New York State & Local Retirement SystemNew York State Office of the State Comptroller. If you are an ERS member with a question of general interest, email united@nysutmail.org. The rates range from 3 to 6 percent. However, the "Google Translate" option may help you to read it in other languages. However, the "Google Translate" option may help you to read it in other languages. Use this rate for all of State fiscal year 2022 2023. After three years, the rate is based on what you actually earned two years earlier. The NYSLRS social media team does not have access to your account information, but wed like to help. If you rely on information obtained from Google Translate, you do so at your own risk. Your contribution rate is calculated by NYSLRS. These include, but are not limited to: Because Google Translate is intellectual property owned by Google Inc., you must use Google Translate in accord with the Google license agreement, which includes potential liability for misuse: Google Terms of Service. Use Retirement Online to Create Custom Pension Estimates Most Tier 2, 3, 4, 5 and 6 members can use Retirement Online to create NYSLRS pension estimates based on the salary and service information we have on file for you. How can I receive help! Reporting contacts: Recent legislation excludes overtime pay from the calculation of Tier 6 contribution rates for a period of two years. PFRS Tier 1, 2, 3 (Article 11), 5 and 6 Members New Career Plan: 375IP: Email us using our secure contact form. Why do I still have to contribute 6% when my pensionable OT is capped? Your message is important to us, and we have sent you a private message in response. SHARE. Sometimes a retiree or beneficiary does business that requires them to verify their pension income. The New York State Office of the State Comptroller's website is provided in English. This Google translation feature is provided for informational purposes only. Share by Facebook. The minimum rate is 3 percent of your earnings, and the maximum is 6 percent. 6010. communit@nystrs.org. The State of New York, its officers, employees, and/or agents are not liable to you, or to third parties, for damages or losses of any kind arising out of, or in connection with, the use or performance of such information. Contact any one of our consultants for assistance. Most Tier 3 PFRS members covered by Article 11 (RSSL) were not required to contribute. Your membership in a particular Tier or Program is determined by various factors. If we find you in our database, The term tier refers to the particular membership status established by legislation, and is determined by the date the member joined NYSLRS (learn more about Membership Tiers). Pensionable earnings (the earnings that can be included in the calculation of a NYSLRS pension) for ERS and PFRS Tier 6 members are limited to the Governor's salary. To change the percentage of the voluntary contribution, a member must: The payroll office should change the deduction percentage to the new rate beginning with the payroll following receipt of the new election form. If you do not report this data timely, your unreported employees may owe additional interest on their membership contributions, loans, and service credit purchases, and may experience delays in receiving service credit. Its a good idea to keep your death benefit beneficiaries up to date. This generally makes them eligible for a retirement benefit as early as age 55. From your Account Homepage, click the Access Reporting Dashboard button. If you retire with fewer than 20 years of service, your pension will equal 1.66 percent of your final average earnings (FAE) for each year of service. Disability Retirement Benefits. This Google translation feature is provided for informational purposes only. We use Mailchimp as our marketing platform. Please review our Terms of Participation and Privacy Policy. After three years, we look at earnings from the last completed State fiscal year to determine the contribution rate for the upcoming fiscal year. This means that contribution rates are determined using earnings from up to two years ago. Although ERS members can generally retire as early as age 55 with reduced benefits, the full retirement age for Tier 6 members is age 63. Over time, hours of availability will be expanded. File the new election form with their payroll office. The State of New York, its officers, employees, and/or agents are not liable to you, or to third parties, for damages or losses of any kind arising out of, or in connection with, the use or performance of such information. If you retire before the age of 63, your benefit will be permanently reduced, regardless of the amount of service credit you have. During the first three years of membership, your contribution rate is based on your annual wage, as provided by your employer on your Membership Application. These deductions should be included on your monthly report. Fax it to us at 518-486-4382 or mail it to the address on the form. Now, its easier than ever to do business with NYSLRS. ERS Tier 3 and 4 Members Coordinated Plan, ERS Tier 3, 5 and 6 Members State Correction Officers and Security Hospital Treatment Assistants Plan, PFRS Tier 1, 2, 3 (Article 11), 5 and 6 Members Basic Plan with Increased-Take-Home-Pay, ERS Tier 2, 3, 4, 5 and 6 Members Special Plan for Uniformed Court and Peace Officers in the Unified Court System, ERS Tier 1 Members Non-Contributory Plan, ERS Tier 2 Members Non-Contributory Plan, ERS Tier 1 Members Non-Contributory Plan with Guaranteed Benefits, ERS Tier 2 Members Non-Contributory Plan with Guaranteed Benefits, ERS Tier 1 and 2 Members Legislative and Executive Retirement Plan, ERS Tier 1 and 2 Members State Correction Officers and Security Hospital Treatment Assistants Plan, ERS Special 20-Year Plan for Investigators in the Office of a District Attorney, ERS Special Plan for Westchester County Correction Officers, ERS Special Plan for Suffolk County Correction Officers, ERS Special Plan for Nassau County Sheriffs, Undersheriffs, Deputy Sheriffs and Correction Officers, ERS Special Plan for Albany County Sheriffs, Undersheriffs, Deputy Sheriffs, Correction Officers, and Identification Officers, ERS Special Plan for St. Lawrence County Sheriffs, Undersheriffs, Deputy Sheriffs and Correction Officers, ERS Special Plan for Jefferson County Sheriffs, Undersheriffs, Deputy Sheriffs and Correction Officers, ERS Special Plan for Onondaga County Deputy Sheriffs (jail division, competitively appointed) and Correction Officers, ERS Special Plan for Orleans County Sheriffs, Undersheriffs, Deputy Sheriffs and Correction Officers, ERS Special Plan for Broome County Sheriffs, Undersheriffs, Deputy Sheriffs and Correction Officers, ERS Special Plan for Monroe County Deputy Sheriffs (Jailors) and Deputy Sheriffs (Court Security), ERS Special Plan for Greene County Sheriffs, Undersheriffs, Deputy Sheriffs and Correction Officers, ERS Optional Retirement Plan for County Sheriffs, Undersheriffs, Deputy Sheriffs and Correction Officers, ERS Special Plan for Town of Elmira District #1 Traffic Officers, ERS Special Plan for Suffolk County Park Police Officers, ERS Special Plan for Suffolk County Probation Department Peace Officers, ERS Special 25-Year Plan for Nassau County Police Department Ambulance Medical Technicians, ERS Special 25-Year Plan for Nassau County Probation Department Peace Officers, ERS Special 25-Year Plan for County Probation Department Peace Officers, ERS Special Plan for Nassau County Fire Marshals, PFRS Tier 1, 2, 3 (Article 11), 5 and 6 Members Police and Fire Plan, PFRS Tier 1, 2, 3 (Article 11), 5 and 6 Members Non-Contributory Plan with Guaranteed Benefits, PFRS Tier 1, 2, 3 (Article 11), 5 and 6 Members Career Plan, PFRS Tier 1, 2, 3 (Article 11), 5 and 6 Members New Career Plan, PFRS Tier 2, 5 and 6 Members State Police Plan, PFRS Tier 1, 2, 3, 5 and 6 Members Regional State Park Police Plan, PFRS Tier 1, 2, 3, 5 and 6 Members En-Con Police Officers Plan, PFRS Tier 1, 2, 3, 5 and 6 Members Forest Rangers Plan, PFRS Tier 1, 2, 3, 5 and 6 Members State University Police Plan, PFRS Tier 2, 3 (Article 11), 5 and 6 Members Special 20- and 25-Year Plans, ERS Tier 1 and 2 Members Special Plan for Sheriffs, Undersheriffs and Deputy Sheriffs, ERS Tier 3, 4, 5 and 6 Members Special Plan for Sheriffs, Undersheriffs and Deputy Sheriffs. These are the rates you will apply to your Tier 6 employees earnings during the upcoming State fiscal year (April 1, 2022 March 31, 2023). Direct deposit is the fast and secure way to receive your pension payment. An employee may receive a one-time SCP deduction if they have a deficiency from under-contributing.