A Look Inside NYSLRS

NYSLRS provided pension benefits to 496,628 retirees and beneficiaries during the State fiscal year that ended on March 31. These benefits are paid out through the New York State Common Retirement Fund (the Fund).

State Comptroller Thomas P. DiNapoli is administrative head of NYSLRS and trustee of the Fund. Over the past century, the Fund has provided retirement security for generations of public employees in New York, and today it is widely recognized as one of the best-managed and best-funded public retirement funds in the nation.

A look inside NYSLRS

NYSLRS Membership                                                          

But NYSLRS is more than just the pension fund. The system had 675,519 members as of March 31. Here are some facts about our membership:

  • 501,890 active members (that is, members still on a public payroll) work for 2,967 public employers statewide.
  • About one-third of those active members work for New York State. The rest work for counties, cities, towns, villages, school districts and public authorities.
  • Nearly 94 percent of total active members are in the Employees’ Retirement System (ERS). The Police and Fire Retirement System (PFRS) accounts for 6 percent of total active membership.
  • More than 48 percent of all Retirement System members are in Tier 6.
  • Nearly 54 percent of PFRS members are in Tier 2, while about 40 percent are in Tier 6.
  • In ERS, 48.6 percent of members are in Tier 6, while 45.2 percent are in Tiers 3 and 4.

NYSLRS Retirees and Beneficiaries

The average pension for an ERS retiree was $25,783 as of March 31, 2021; the average for a PFRS retiree was $56,695. But these pension payments don’t just benefit the System’s retirees and beneficiaries. Because 79 percent of our retirees and beneficiaries live in New York, most of the pension benefits stayed in the State. And that money supported local businesses, paid local taxes and generated economic development statewide.

Learn More About NYSLRS

Extensive information about our members and retirees, the Fund and Fund investments can be found in the 2021 Comprehensive Annual Financial Report. This report includes detailed information about the Fund’s investments, strategies and financial position. It also provides details about NYSLRS’ 1.1 million members, retirees and beneficiaries. For example, the report shows where retirees live across the State, across the nation and around the world.

2 thoughts on “A Look Inside NYSLRS

  1. joellfrank

    The other seven retirement systems of this state offer the Direct Rollover option of loans taken at or near retirement. Why doesn’t the NYSLRS do the same?

    Reply
  2. james Hennessey

    With over 368 Billion Dollars in our pension fund why not raise the COLA’s to 100% as does the federal government’s defined benefit plan? Inflation can destroy the hard working people who retired from New York State and it’s other participating entities.

    Reply

Leave a Reply