Retiree Annual Statement Available Online

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Your Retiree Annual Statement provides a year-end summary of your pension payments for the last calendar year, including the total amount you received and a breakdown of credits, deductions and taxes. It also gives you an explanation of the pension payment option you chose at retirement.

We mail printed Retiree Annual Statements by the end of February. However, we make Statements available in Retirement Online sooner than printed copies are mailed—and you can sign in to your account now to access yours.

Reminder for members: Make sure you receive your Member Annual Statement, which is distributed beginning in May.

Get Your Statement Online Now

 To view, save or print your Statement:

  • Sign in to Retirement Online.
  • Look under My Account Summary.
  • Click View My Retiree Annual Statement button.
  • If Retirement System is blank, click Look Up icon and select ERS or PFRS from dialog box.
  • Click Look Up icon next to Calendar Year field and select an option from dialog box.
  • Click Generate Statement.

The document will download on to your computer.

If you don’t have an account, check out our Retirement Online Tools and Tips blog post where you’ll find a link to step-by-step instructions to help you register for Retirement Online.

Retiree Annual Statements are Available Online

Understanding Your Retiree Annual Statement

Your annual Statement provides year-end benefit and payment information for the previous calendar year, including:

  • Your total pension benefit amount before credits, deductions and taxes.
  • Credits for adjustments or reimbursements, such as a cost-of-living adjustment (COLA) or Medicare reimbursements. (Only applicable credits appear in your Statement.)
  • Deductions for recoveries, payments to an alternate payee, health insurance, or other dues or fees you’ve authorized to have deducted from your pension benefit. (Only applicable deductions appear in your Statement.)
  • The amount withheld for federal taxes.
  • Your total net benefit after credits, deductions and taxes.

If you have questions about the information and terms used in your Statement, check out our Guide to Your Statement for a short explanation of each.

Do Not Use Your Statement for Tax Purposes

While your Retiree Annual Statement includes pension payment and tax information, it is not a tax document. If your pension is taxable, we provide a 1099-R tax form (either through Retirement Online or by mail, depending on your delivery preference) for filing your taxes.

View Your Pension Pay Stub for Year-to-Date Information

Your pay stub gives you valuable insight into your monthly pension payment, including a breakdown of credits, deductions and taxes. Throughout the year, you can access your pay stubs online to see year-to-date totals.  

Get an Email Notification for Your Statement

Next year, you can get access to your Statement sooner by updating your delivery preference to email. When your Statement is available, we’ll send an email notifying you to sign in to Retirement Online.

  • Sign in to Retirement Online.
  • Look under My Profile Information.
  • Click update next to ‘Retiree Annual Statement by.’
  • Choose Email from dropdown.

Be sure the email address listed in your Retirement Online profile is current.

Note: If you choose email as your delivery preference, you will not receive a printed copy in the mail.

Retirees: Your 1099-R is Available Online

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Retirees: Your 1099-R is Available OnlineTax season is here. While your NYSLRS pension is not subject to New York State or local income tax, most NYSLRS pensions are subject to federal income tax. Each year, we provide a 1099-R tax form with the information you need to file your taxes.

We mail printed 1099-Rs by January 31. However, we make 1099-Rs available in Retirement Online sooner than printed copies are mailed—and you can sign in to your account now to access yours.

Get Your 1099-R Online Now

To view, save or print your tax form:

  • Sign in to Retirement Online.
  • Look under My Account Summary.
  • Click Manage My 1099-R Tax Forms button.
  • Select 2024 from Year dropdown. (Note: 2024 and 2023 are currently available online.)
  • Click Generate button.

If you have one tax form, the document will open in a new browser tab. If you have more than one tax form, the documents will download to your computer.  

Please check your browser settings and disable pop-up blockers to ensure your tax form is generated. By default, your browser may block pop-ups, which could prevent a new tab from opening or the file from downloading.

If you don’t have a Retirement Online account, check out our Retirement Online Tools and Tips blog post, where you’ll find a link to step-by-step instructions to help you register.

Understanding Your 1099-R

Your tax form includes:

  • The total benefit paid to you in a calendar year.
  • The taxable amount of your benefit.
  • The amount of taxes withheld from your benefit.

If you have questions about the information on your tax form, check our interactive 1099-R tutorial. It walks you through a sample and offers a short explanation of each box on the form.

Get an Email Notification for Your 1099-R

Next year, you can get access to your tax form sooner by updating your delivery preference to email. When your 1099-R is available, we’ll send an email notifying you to sign in to Retirement Online.

  • Sign in to Retirement Online.
  • Look under My Profile Information.
  • Click update next to ‘1099-R Tax Form Delivery by.’
  • Choose Email from dropdown.

Be sure the email address listed in your Retirement Online profile is current.

Note: If you choose email as your delivery preference, you will not receive a printed copy in the mail.

Working After Retirement: Earnings Limit

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As a NYSLRS retiree, you can work and still receive your pension. However, there may be a limit on how much you can earn each year without affecting your NYSLRS pension.

Working After Retirement: Earnings Limit

Working While Receiving a Service Retirement Benefit

Generally, an earnings limit of $35,000 applies to NYSLRS retirees who:

  • Are under age 65;
  • Receive a service retirement benefit (see disability benefit rules below); and
  • Return to work for a public employer (including contract or consultant work, if you joined NYSLRS on or after May 31, 1973).

There is no earnings limit if you are self-employed or if you work for:

  • The federal government;
  • A state or local government in another state; or
  • A private employer.

Also, beginning in the calendar year you turn 65, the earnings limit no longer applies.

Update Regarding the Earnings Limit

The earnings limit for retirees employed by school districts or Boards of Cooperative Educational Services (BOCES) is suspended through June 30, 2025. (April 2024 legislation extended the date from 2024 to 2025.) This earnings limit suspension does not apply to retirees who work for a college, university or charter school.

For most other retirees under the age of 65, the $35,000 limit is in effect and applies to the entire calendar year in 2025.

NYSLRS retirees can return to work part-time for a public employer. However, a retiree must have had a “bona fide” termination of employment. This means the retiree was removed from their employer’s payroll before the effective date of their retirement, and the member and their employer had no expectation of further work after the retirement date. If these conditions are not met, the retiree’s service retirement can be voided and pension payments received will be recovered by NYSLRS.

Note: Special rules apply to elected officials.

Working While Receiving a Disability Retirement Benefit

Almost all earnings for retirees who are working while receiving a disability retirement benefit are limited whether they work for a public or private employer. The limit is specific to each retiree. To find out your earnings limit, please contact us.

How the Earnings Limit Applies

The limit applies to all earnings for the calendar year, including money earned in the calendar year, but paid in a different calendar year (for example earned in December but paid in January).

The limit does not apply to:

  • Payments received after you retire from your employer, such as for vacation or sick time you earned when you were still working; and/or
  • A retroactive payment for a new union contract, if the earnings are for employment before you retired.

Reporting Your Earnings

It is your responsibility to notify NYSLRS if you earn more than the limit. If you know you are going to exceed the limit, contact us at least a month before you do.

You can message us using the secure contact form, or you can fax a letter to 518-402-2498. Be sure to include the name of your employer, the approximate date you expect to exceed the limit and a daytime phone number in case we have questions.

If You Exceed the Earnings Limit

If you earn more than the limit, you must:

  • Pay back NYSLRS for the pension payments you received after the date you reached the limit. If you continue to work, your pension will be suspended for the remainder of the calendar year and resume the following January.

    OR

  • Rejoin NYSLRS, in which case your pension will be suspended until you retire again at some future date. (You’d need to reapply.)

Earnings Limit Waiver

Under Section 211 of the Retirement and Social Security Law, the earnings limit can be waived if your prospective employer gets approval before hiring you. Approval is not automatic; it is based on the employer’s needs and your qualifications. In most cases, the New York State Department of Civil Service would be the approving agency. A Section 211 waiver covers a fixed period, normally up to two years.

For More Information

Before you decide to return to work, please read our publication What If I Work After Retirement? It includes information such as how earnings limits are calculated for retirees receiving a disability retirement benefit, consequences to consider before returning to NYSLRS membership and more. If you have questions, please contact us.

Deferred Compensation: Another Source of Retirement Income

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Many financial experts cite a common rule of thumb when discussing income in retirement. They say you need 70 to 80 percent of your pre-retirement income to maintain your standard of living once you retire. This is meant to account for the range of expenses you’ll no longer have in retirement, such as payroll taxes, commuting costs or saving for retirement. As a NYSLRS member, your plan for income in retirement likely includes your NYSLRS pension and Social Security benefits. However, for greater financial stability and flexibility, you may want to supplement with retirement savings. For example, you might start investing in a savings plan like the New York State Deferred Compensation Plan (NYSDCP).

Deferred Compensation: Another Source of Retirement Income

What is Deferred Compensation?

Deferred compensation plans are voluntary retirement savings plans like 401(k) or 403(b) plans—but designed and managed with public employees in mind. NYSDCP is the 457(b) plan created for New York State employees and employees of other participating public employers in New York.

Once you sign up for NYSDCP, you can build your own investment portfolio or invest in established investment funds. Your contributions can be automatically deducted from your paycheck, and you can contribute as little as 1 percent of your earnings.

Just like with other retirement savings plans, you have options for how you make your NYSDCP contributions. You might choose a tax-deferred account where you make contributions with pre-tax money. With this option, you won’t pay State or federal taxes on the earnings you contribute until you start making withdrawals. Your employer may also offer the option for a Roth account where you make contributions with after-tax money. With this option, you do pay taxes now, but you won’t pay taxes on the withdrawals you make in retirement. Learn more about how traditional retirement savings and Roth accounts compare.

If your employer is not an NYSDCP participating employer, check with your human resources or personnel office about other retirement savings options.

What Does Deferred Compensation Mean for Me?

Deferring income from your take-home pay may mean less money to spend in the short-term, but you’re planning ahead for your financial future.

You can enroll in a deferred compensation plan anytime—whether you’re close to retirement or you just started working. Usually, the sooner you start saving, the better prepared you’ll be for retirement.

Supplement Your NYSLRS Pension with Retirement Savings

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As a NYSLRS member, you are enrolled in something increasingly rare these days: a defined benefit plan. If you are vested and retire from NYSLRS, you will receive monthly pension payments for the rest of your life based on your years of service and earnings. Your NYSLRS pension can provide a significant part of your retirement income, but it’s a good idea to supplement your pension and Social Security with a retirement savings account.

Additional retirement savings can give you flexibility to travel, continue your education, pursue a hobby or start a business. It can be a resource in case of an emergency or act as a hedge against inflation.

Your Retirement Savings Goal

How much you save is a personal decision. You can  estimate your pension in Retirement Online to get an idea of the income it will provide in retirement. Use a retirement savings calculator to see how much a retirement savings plan could yield over time. Test the results with different savings amounts.

Below you can see the potential savings of someone who invests 50 dollars every two weeks for 30 years. While the stock market can be turbulent in the short term, in the long term, it returns on average about 10 percent a year as measured by the S&P 500 index.

saving for retirement

As you get closer to retirement, you should develop a plan to withdraw money from your savings. That will give you a better idea of the income you might expect from your nest egg and a sense of how long it will last.

Here is one possible withdrawal strategy, which provides retirement income for 20 years. Please note, if your retirement is far in the future, the money you withdraw may not have the same value that it would have today.

withdrawing income

If you find you’ll need to save more to meet your goal, you can make adjustments to help ensure you’ll have enough savings in retirement.

Note: Generally, whatever your withdrawal strategy, federal law will eventually require you withdraw a certain amount each year from any tax-deferred retirement plan account. These are called required minimum distributions.

New York State Deferred Compensation Plan

One way State employees and many municipal employees can save for retirement is through the New York State Deferred Compensation Plan (NYSDCP). Once you’ve signed up, your retirement savings—which may be tax-deferred depending on the plan you choose—will be automatically deducted from your paycheck.

Check with your employer’s human resources or personnel office to see whether they participate in NYSDCP or if they offer other savings options. (NYSDCP is not affiliated with NYSLRS.)

Read More About Retirement Savings

When it comes to saving for retirement, there’s a lot to consider. You can find more information in these posts:

NYSLRS Retirees Contribute to New York State’s Economy

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NYSLRS benefits provide a lifetime monthly pension retirees can count on. And, in turn, NYSLRS retirees contribute to our local economies in both good times and bad.

Nearly 79 percent of NYSLRS retirees live right here in New York State, and they can be found in every region and county. That means, in every corner of the Empire State, NYSLRS retirees are there—patronizing local businesses and helping to create jobs. Retirees also pay a significant share of State, local and property taxes.

As of the State fiscal year ending, March 31, 2024, Suffolk County on Long Island is home to 39,837 retirees and beneficiaries—the most benefit recipients of the counties outside of New York City. They make up about 2.6 percent of the county’s residents, and they bring some $1.5 billion in pension payments to their region’s economy.

On the other hand, Hamilton County has the fewest NYSLRS benefit recipients—just 545. But, for this sparsely populated county in the heart of the Adirondacks, those retirees represent about 10 percent of the county’s population, and they inject more than $12.9 million of pension payments into their communities.

As the number of NYSLRS retirees in our State grows, you can count on their help in building a stronger New York for years to come. Visit our website to see more about how retirees contribute to every region in the State.

Retirees Contribute to New York State’s Economy

How Retirees Contribute to Economic Stability

A NYSLRS pension is a defined benefit plan, which provides guaranteed monthly pension payments to retirees for life. With a defined benefit plan, your pension will be calculated based on a preset formula. That means—unlike with 401(k)-style defined contribution plans, which are essentially retirement savings accounts—your contributions won’t affect the amount you receive in retirement. NYSLRS retirees don’t have to worry about their pension running out during retirement, and there’s no danger of a drop in monthly income based on the whims of the stock market.

A study by the National Institute on Retirement Security (NIRS) suggests retirees with steady sources of income such as Social Security and monthly pensions are better able to maintain their spending during economic downturns, which may play a stabilizing role in local economies. That stability is particularly important in rural parts of the State. These areas often lack the economic diversity of more densely populated regions, which can make them more susceptible to downturns.

Defined benefit pension plans don’t just help New York State. Across the nation, pension benefits support millions of retirees who in turn contribute to their communities. In 2020, defined benefit pension plans paid $612.6 billion to 24.6 million retired Americans. According to the same NIRS study, their spending supported 6.8 million jobs and generated $1.3 trillion in economic activity.

Where Do NYSLRS Retirees Live?

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NYSLRS provides pension benefits to more than 520,000 retirees and beneficiaries. You can find our retirees in every state in the US and in countries all around the world. However, most live right here in New York State.

Nearly 79% of NYSLRS Retirees Stay in New York

The vast majority of NYSLRS retirees—nearly 79 percent—stay in New York State, and their pension dollars flow right back into our communities. Retirees in New York pay local property and sales taxes. Their spending supports local businesses, generates thousands of jobs and stimulates the economy.

NYSLRS retirees in New York

Where in New York do these retirees call home?

Long Island is home to more than 66,000 retirees and beneficiaries. Suffolk County has the most and Nassau County has the third most benefit recipients of the counties outside of New York City. (The City, which has its own separate retirement systems for municipal employees, police and firefighters, has more than 24,000 retirees and beneficiaries.)

Erie County, which includes Buffalo, has the second most retirees—nearly 34,000. Albany County, home to the State capitol, is ranked fourth, with more than 20,000. Monroe, Westchester, Onondaga, Saratoga, Dutchess and Oneida Counties round out the top ten.

All told, retirees and beneficiaries in the top ten counties received $7 billion in retirement benefits in the fiscal year ending March 31, 2024.

Hamilton County has the fewest retirees. But, in this sparsely populated county in the heart of the Adirondacks, those 545 retirees represent about 10 percent of the county’s population and received $12.9 million in retirement benefits in the fiscal year ending March 31, 2024.

NYSLRS Retirees in the United States

NYSLRS retirees are found in every state. Florida, not surprisingly, is the second choice for retirees after New York. Roughly 41,000 call the Sunshine State home. North Carolina is third, followed by New Jersey and South Carolina. North Dakota has the fewest retirees and beneficiaries—only 23.

NYSLRS retirees in the United States

NYSLRS Retirees Around the World

There are 649 NYSLRS retirees and beneficiaries living around the world but the most common countries are:

  • Canada: 176
  • Israel: 48
  • England: 32
  • Philippines: 32
  • US Virgin Islands: 29

Learn More

Check out our 2024 Annual Comprehensive Financial Report for more information about NYSLRS, the Common Retirement Fund and our nearly 1.2 million members, retirees and beneficiaries.

Note: All data is as of the State fiscal year end, March 31, 2024.

Fighting Fraud and Protecting Pension Benefits

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Fighting Fraud and Protecting Pension Benefits

Since taking office, New York State Comptroller Thomas P. DiNapoli has fought the abuse of public funds. One of his top priorities is protecting NYSLRS and its retirees from pension fraud.

The Comptroller’s Division of Investigations regularly partners with federal, state and local law enforcement in New York and across the country to bring corrupt individuals to justice and recoup stolen NYSLRS money. Over the past several years, pension fraud investigations have led to 57 arrests and the recovery of over $5.8 million.

Here are some cases from earlier this year:

Joint Investigation Uncovers Caretaking Scheme

In May 2024, a joint investigation between the Comptroller’s office, the Rensselaer County District Attorney and the New York State Police led to the arrest of an Albany woman and man for allegedly stealing more than $200,000 in pension and Social Security payments from an 86-year-old retiree.

The defendants engaged in a caretaking scheme that left the elderly victim in deplorable living conditions and resulted in home foreclosure. They persuaded the victim to let them pay his bills, however, they did not pay the victim’s mortgage, property taxes or other bills for several years. This caused the foreclosure of the victim’s home, the repossession of his vehicle, and his electricity to be turned off.

As a result of the investigation, the victim was removed from the home and received necessary treatment.

In November 2024, one of the defendants pleaded guilty to grand larceny in the second degree and is awaiting sentencing. The second defendant was indicted by a Rensselaer County Grand Jury on charges of grand larceny in the second degree and the matter is currently pending in court.

Son Impersonates Father to Continue Receiving Pension

In 2017, a NYSLRS pensioner who had retired from the Nassau County Clerk’s Office in 1992, moved to Wyoming with his son. The retiree was never heard from again, and it is believed he died in Wyoming. His pension payments should have stopped when he died, but his son never reported his death.

In fact, the son went to great lengths to conceal his father’s death and continue receiving his pension and social security payments. He even whitened his hair and eyebrows to impersonate his deceased father.

But a call to the Comptroller’s Fraud Hotline prompted an investigation, which included the U.S. Attorney’s Office, the Social Security Administration, the U.S. Postal Inspection Service and the FBI.

The son was arrested on federal fraud charges in 2023. In February 2024, the son was sentenced to five years in prison and ordered to repay the $194,000 he stole in NYSLRS pension and Social Security benefits.

Man Steals Deceased Sister-in-Law’s Pension Payments

In October 1986, a stenographer from the Supreme Court, Appellate Division, retired with a disability retirement and the Single Life Allowance pension payment option. That means, when she died in January 2019, her monthly pension payments should have ended. Once NYSLRS discovered her death in July 2022, payments were stopped, and an investigation was launched.

A forensic analysis was completed on the bank account where the pension payments were being deposited, which was a joint account in the name of the retiree and her brother-in-law. The investigation found that the brother-in-law diverted over $50,000 in pension payments made after his sister-in-law’s death and used the money to pay credit card bills, travel and make online purchases.

The brother-in-law was arraigned on a charge of grand larceny in Albany County Court. The matter is pending in court.

You Can Help Fight Fraud

If you are aware of potential pension fraud, visit the Comptroller’s Fighting Public Corruption page to file a complaint online, or call the Fraud Hotline at 888-672-4555.

Protecting Yourself from Scams

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Your retirement account can be an attractive target for scammers, and imposters continue to find new ways to try to impersonate government agencies, such as NYSLRS or the Social Security Administration. Learn to distinguish fake messages from official NYSLRS communications and protect yourself from scams.

protecting yourself from scams

How Scams Work

Imposters pretend to be an agency or organization you already know to gain your trust. They use similar logos or imagery in correspondence. They may contact you from an email address that mimics—but isn’t identical to—those used by employees of the actual organization. Some can even make a real agency’s phone number appear on caller ID (known as spoofing).

Usually, once they contact you, they claim there is a problem (or a prize or a new benefit available) requiring your immediate attention. But here’s the catch: to fix the problem or receive the reward, the imposter needs you to pay them a fee or provide personal data, such as your Social Security number or bank account information. They may even threaten you with legal action, a suspension of your benefits or arrest if you fail to act in time.

If someone contacts you and you notice these signs of a scam, remain calm. Hang up the phone or delete the message if you feel like something is off. It’s the easiest way to avoid accidentally giving away personal information.

AI: A New Tool for Scams

You should also be aware of an emerging threat—artificial intelligence (AI), which allows computers to mimic certain human behaviors, such as speech and writing. Using AI, scammers can personalize phishing emails, making it harder to recognize a fraudulent communication. AI may even be able to impersonate the voice of a family member or friend, making you think they are in trouble or need money.

Here are some things you can do to protect yourself from AI-enhanced scams:

  • Don’t share sensitive information through text or social media;
  • Don’t send or transfer money to unknown locations;
  • Consider designating a “safe word” for your family to use to identify themselves and share that word with family members and close contacts; and
  • When in doubt, hang up and call your loved one back.

Doing Business With NYSLRS

Generally, NYSLRS will only call you if we are following up on a previous communication from you, such as a phone call, secure email message, Retirement Online request, form or letter. For security, you can use your NYSLRS ID to identify yourself instead of providing your Social Security number. To find your NYSLRS ID, sign in to Retirement Online, or check your annual statement or other correspondence from NYSLRS.

It’s important to review the communications you receive from NYSLRS. We send you letters or emails (depending on your delivery preference in Retirement Online) whenever you update your Retirement Online account or benefit information.

Keep Your Retirement Online Account Secure

Retirement Online is the fastest and most convenient way to review your retirement account details and conduct business with NYSLRS. And it’s safe to use—it has the same security safeguards used for online banking and by other financial institutions. Please note, it is currently only available from the NYSLRS website; there is no mobile app.

Here are steps you can take to help make sure your Retirement Online account stays secure:

  • Once you have an account, keep your username and password in a safe place, and don’t share them with anyone. NYSLRS will never ask for your password.
  • Sign in to Retirement Online at least once a year and update your password so it doesn’t expire. If you haven’t signed in recently and forgot your user ID or password, don’t worry—from the customer login page, you can:
    • Click the Forgot ID link to look up your user ID.
    • Click the Forgot Password link to reset your password.

You’ll need to identify yourself and answer security questions you set when you signed in for the first time. Read our Forgot User ID and Forgot Password guides for step-by-step instructions.

  • Update your delivery preference to receive an email notifying you when you have correspondence to view in Retirement Online. That way, when there are changes to your account, you’ll receive an email notifying you instead of waiting for printed notices through the mail.

If you receive a notification of an account change you did not make, contact us immediately.