Monthly Archives: February 2020

Retiree Annual Statements Coming

If you’re a NYSLRS retiree and received benefits in 2019, your Retiree Annual Statement should be coming in the mail soon, if you haven’t received it already.

The Retiree Annual Statement provides important information about your retirement account. You should keep your copy in a safe place.

couple reviewing their Retiree Annual Statement

What’s Inside Your Retiree Annual Statement

Your annual statement includes:

  • Your retirement number. To protect your privacy, use this number instead of your Social Security number when conducting business with NYSLRS.
  • Your monthly benefit before taxes, deductions and credits.
  • Your total net benefit for the year. (This is your benefit after taxes, deductions and credits.)
  • The total amount of any cost-of-living adjustment (COLA).
  • Your total Medicare credits (if eligible).
  • Federal tax withholding and other deductions taken from your pension, such as union dues.
  • Health insurance premiums. (NYSLRS doesn’t administer health insurance benefits, but we deduct retiree premiums at the request of your former employer.)

Not a Tax Document

While your Retiree Annual Statement includes information about your benefit payments and tax withholding, it is not a tax document and should not be used for filing your federal income tax return. NYSLRS mailed 1099-R tax forms to retirees and beneficiaries in January.

If you need a reprint of your 2019 1099-R to file your taxes, you can order one online. Reprints will be mailed to the address we have on file for you, so if you’ve moved recently, you should check to make sure your contact information is up to date before requesting a reprint. The fastest way to check and update your address is with Retirement Online. From your account homepage, you can also let us know how you would like to receive information from NYSLRS by choosing your correspondence preference.

Staying Informed

News & Notes, our semiannual newsletter, will be included with your Retiree Annual Statement. The newsletter will help you keep up with the latest news about NYSLRS and other topics of interest.

Your Statement provides a snapshot of your NYSLRS account as of December 31, 2019, but you can get up-to-date information by signing in to Retirement Online. If you don’t already have an account, you can learn more or register today.

NOTE: when there is a change in your net benefit amount, NYSLRS will notify you by mail or email.

DiNapoli Continues to Fight Against Pension Fraud

Comptroller Thomas P. DiNapoli’s efforts to prevent and stop pension fraud help protect the integrity of NYSLRS and the retirement security of its members and beneficiaries.

The Comptroller’s Office works with law enforcement and local prosecutors to help root out pension fraud. Over the last several years, these investigations have led to dozens of arrests and the recovery of millions of dollars.

DiNapoli Continues to Fight Against Pension Fraud

Recent Pension Fraud Cases

  • A Dutchess County woman failed to notify NYSLRS about her mother’s death and continued to collect her mother’s pension checks. She collected nearly $42,000 before she was caught, and pleaded guilty to petit larceny in July 2019. She was sentenced to three years’ probation and has agreed to pay full restitution.
  • A Westchester County woman kept her deceased mother’s deposited pension checks and spent the money on personal expenses, including cellphone and utility bills. The amount she stole from the retirement system totaled $60,288. She pleaded guilty to a felony grand larceny charge and was sentenced to five years’ probation. She also paid back $22,000, part of her requirement to make full restitution.
  • Two Westchester County sisters are accused of concealing their mother’s death to collect nearly $22,000 of her retirement benefits from 2013 to 2015. They’re charged with third-degree grand larceny, a felony.

Comptroller DiNapoli is also committed to fighting public corruption in state and local government. He partners with law enforcement to bring corrupt officials to justice and recoup stolen taxpayer money.

Since he took office in 2007, DiNapoli’s anti-corruption initiatives have resulted in more than 200 arrests and the recovery of $60 million in taxpayer money.

How You Can Help

The Comptroller encourages the public to report allegations of wrongdoing by:

  • Calling the toll-free Fraud Hotline at 1-888-672-4555;
  • Filing a complaint online; or
  • Mailing a complaint form to:
    Office of the State Comptroller
    Division of Investigations, 8th Floor
    110 State Street
    Albany, NY 12236.