With direct deposit, your pension payment is deposited directly into your bank account on the last business day of each month. It’s fast, convenient and secure. And if you change banks or open a new account, you can avoid delays or any interruption in receiving your pension payments by using Retirement Online to update your direct deposit information.

Keep Your Direct Deposit Information Updated

It’s important to notify NYSLRS as soon as possible if you change financial institutions or accounts. After you submit changes, we’ll send you a confirmation letter with the effective date of the change.

Important: You should keep your current bank account open until you receive our letter confirming the date we will begin depositing your pension payment into your new account.

Use Retirement Online to Update Your Direct Deposit Information

Retirement Online is the fastest and most convenient way to update your direct deposit information. Your changes will generally be applied to your next month’s pension payment.

• Sign in to Retirement Online. 
• Look under I want to… (located at the top right).
• Click Update Direct Deposit link.
• Follow steps to update your bank account number and routing number.

If you have a joint account holder on your account, you’ll need to print and complete the Electronic Funds Transfer Direct Deposit Enrollment Application (RS6370) and have your joint account holder sign the form. It’s best to do this in advance, so you can upload the completed form while updating your information in Retirement Online. However, you can upload the completed form later. 

Other Ways to Update Your Direct Deposit Information

You can update your direct deposit information by completing an Electronic Funds Transfer Direct Deposit Enrollment Application (RS6370) and submitting it using our secure contact form or by mail. Please note, using a paper form will take longer for the information to reach us, and it may take up to 60 days to apply your changes. Be sure to attach a voided check or have a bank representative complete section three of the form.

If you are updating account numbers but not changing banks, your bank can fax your direct deposit changes to 518-473-5323. A bank representative must include the following information on their letterhead:  

• Your name;
• Your NYSLRS ID or retirement number;
• Old and new account numbers and bank routing number; and
• A bank representative’s signature.

Note: If your bank faxes your request, you don’t have to update your direct deposit information in Retirement Online or submit a paper application.

Sign Up for Direct Deposit

With direct deposit, your pension payment is deposited directly into your bank account—it’s fast, convenient and secure. You’ll avoid mailing delays, trips to the bank in bad weather and standing in line to cash a check. And you won’t need to worry about your check being lost or stolen.

• Sign in to Retirement Online. 
• Look under I want to… (located at the top right).
• Click Update Direct Deposit link.
• Follow steps to add your bank account number and routing number.

For More Information

For more information, visit our Direct Deposit page, and check our Pension Payment Calendar for a list of dates pension payments are direct deposited.