Over the last year, NYSLRS has seen an increase in check fraud and the delayed receipt of pension checks sent by mail. That is why we are urging all retirees and beneficiaries who still receive pension checks by mail to enroll in our Direct Deposit program, just as the Social Security Administration requires you to receive that benefit.
Direct deposit is fast, convenient and secure. Your pension payment will be deposited directly into your bank account on the last business day of each month and available to you immediately. No more waiting for a check in the mail or having to travel to the bank to cash it. And you won’t need to worry about your check being lost or stolen.
Use Retirement Online to Sign Up for Direct Deposit
Retirement Online is the fastest and most secure way to sign up for direct deposit.
- Sign in to Retirement Online.
- From Account Homepage, 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.
If you have a joint account holder on your bank 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 signing up in Retirement Online. (However, you can upload the completed form later.)
Other Ways to Sign Up for Direct Deposit
If you don’t have a Retirement Online account, you can download and complete an Electronic Funds Transfer Direct Deposit Enrollment Application (RS6370). However, please be aware, you must attach a voided check or have a bank representative complete Section 3 of the form. Paper forms also take longer to process.
You can submit your completed form online:
- Fill out all required fields on our secure contact form.
- From the Topic dropdown, select Direct Deposit.
- Attach your completed form using the Browse… button.
Or by mail:
NYSLRS
110 State St.
Albany, NY 12244-0001
Keep Your Direct Deposit Information Updated
It’s important to notify NYSLRS as soon as possible if you change financial institutions or accounts. Retirement Online is the fastest and most convenient way to update your bank account information. Your changes will generally be applied to your next month’s pension payment. Our Pension Payment Calendar lists the dates your pension payment will be deposited into your bank account each month.
Very tired of being nagged to set up online account and direct deposit when it’s NYSR who WONT let me do those things because I choose to live in UK . When queried, the response has repeatedly been that paper checks to me are for my safety! Social Security easily accommodated both an online account and direct deposit for US expats . New York State is supposed to be the financial capital of the world and the can’t arrange direct deposit for a friendly foreign country ???And there is ZERO reason to not at least an online account for expats . The hypocrisy in this bulletin is ridiculous in and of itself .