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.
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.
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.
When you’re ready, Retirement Online makes applying for retirement fast and convenient. There are no forms to mail in and nothing to have notarized. When you apply online, you’ll be able to:
See estimates of your pension for the payment options available to you.
Upload documents while applying or after submitting your application.
Submit changes to your application quickly and easily if needed.
Your date of retirement is up to you! Keep in mind:
You must apply at least 15 days but no more than 90 days before your chosen retirement date.
You must stop working and be off your employer’s payroll on your retirement date (your last day on payroll must be no later than the day before your retirement date).
Your date of retirement can be a weekend or holiday (for example, if your last day of work is a Friday your retirement date can be Saturday).
Select Your Pension Payment Option
You can choose from several pension payment options, all of which provide you with monthly pension payments for the rest of your life. The Single Life Allowance provides the maximum amount, but upon your death, payments will stop—there will be no continuing payments to a beneficiary, even if you die soon after retiring. Or, you can choose to receive a reduced monthly pension payment to provide for:
Most NYSLRS pensions are subject to federal income tax, and NYSLRS is required to withhold federal income tax from your pension benefit at the default withholding status of “single with no adjustments” unless you inform us otherwise. Enter federal tax withholding information to adjust the amount withheld.
Note: NYSLRS pensions are not subject to New York State or local income tax. However, if you permanently move to another state, that state may tax your pension.
Sign Up for Direct Deposit
With direct deposit, your pension payment will be deposited directly into your bank account on the last business day of each month. It’s fast, convenient and secure. Save time and set up direct deposit pension payments when you apply for retirement by entering 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 adding your direct deposit information in Retirement Online. However, you can upload the completed form later.
Upload Proof of Date of Birth
You must submit proof of your date of birth before any pension benefits can be paid. If you select a pension payment option that provides a lifetime pension benefit to a beneficiary upon your death, you must submit proof of your beneficiary’s date of birth as well.
Upload one of the following acceptable documents:
Birth certificate
New York State driver’s license
Passport or passport card
Marriage certificate, if it shows your age on a given date or the date of birth
If you don’t have one of these documents available when you apply online, you can submit them later. However, if your submission is not timely, your first payment may be delayed.
Pay Off Outstanding Loans and Service Credit Purchases
You’ll see which employers reported service credit for you. Review your employment history and add any missing public employment.
You can request additional service credit for previous employment or military service, or you can request a transfer or tier reinstatement when you apply to retire. However, remember it’s best to make these requests well before you apply.
One Exception—Disability Retirement
You may be eligible for a disability retirement benefit if you are permanently disabled and cannot perform your duties because of a physical or mental condition. Applications for disability retirement can’t be submitted in Retirement Online. If you are applying for a disability retirement, you must submit a paper application. Visit our Disability Benefits page for more information.
For Benefit Information, Read Your Retirement Plan Publication
Your service and disability retirement benefits and death benefits are based on your tier, retirement plan, service credit, and other factors. For comprehensive information about your retirement benefits and how your pension will be calculated, find your NYSLRS retirement plan publication.
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.
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.
NYSLRS is one of the largest retirement systems in the world, administering benefits for more than 1.2 million members, retirees and beneficiaries. Take a look inside NYSLRS and brush up on your NYSLRS knowledge—here are 10 things retirees should know.
1. Retirement Online is the Fastest, Most Convenient Way to Do Business With NYSLRS
Retirement Online is the fastest way to manage your NYSLRS account. Skip printing forms, having them notarized and sending them through the mail. When you submit your requests through Retirement Online, NYSLRS has them immediately, and your changes will be completed more quickly. It’s convenient and secure. Check out what retirees can do in Retirement Online.
If you don’t have an account or for help signing in to an existing account, check out our Retirement Online tools and tips for step-by-step instructions to register, reset your password, unlock your account and more.
2. Your Pension Benefits Are Secure
The New York State Common Retirement Fund holds and invests the assets of NYSLRS on behalf of members, retirees and their beneficiaries and continues to be one of the best-funded and best-managed public pension funds in the nation. Comptroller Thomas P. DiNapoli is the administrator of NYSLRS and trustee of the Common Retirement Fund.
3. It’s Important to Keep Your Contact Information Up to Date
Wherever retirement takes you, it’s important to keep NYSLRS informed of any changes to your contact information. That way, you’ll be sure to receive the tax information, news, correspondence and statements we send you. If you receive correspondence and statements by mail, it’s vital you review the address we have on file for you. Changing your address with the United States Postal Service (USPS) does not mean your records will automatically be updated with NYSLRS. To ensure you continue receiving mail from NYSLRS, you must submit a change of address directly to us. This is especially important if you receive your pension payment as a paper check.
4. ‘Go Green’ and Get Your Important Documents Sooner
You can help us ‘go green’ and reduce paper waste by choosing email as your delivery preference for correspondence and other important documents, such as your 1099-R tax form and Retiree Annual Statement. When you have something to view, we’ll send an email notifying you to sign in to Retirement Online. And it will save time—you’ll get access to your important documents sooner than printed copies are mailed. Learn how to get email notifications for important documents.
5. There May Be an Earnings Limit for Working After Retirement
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. An earnings limit of $35,000 generally applies to NYSLRS retirees who are under age 65 and returning to work for a public employer while receiving a service retirement benefit. However, the earnings limit for retirees employed by school districts or Boards of Cooperative Educational Services (BOCES) is suspended through June 30, 2027.
6. You Should Review Your Beneficiaries Periodically
Most NYSLRS retirement plans provide a post-retirement death benefit for beneficiaries of eligible retirees who die after retiring directly from service or within one year of leaving public employment. It’s a good idea to review your beneficiaries from time to time to make sure they reflect your current wishes. The beneficiary you named before might not be the one you would choose today. You should also review the contact information for your named beneficiaries so we can find them when needed and share this information about reporting a retiree’s death to NYSLRS with your survivors.
7. Adjust Your Tax Withholding Online
Most NYSLRS pensions are subject to federal income tax. If your last federal tax bill or return was not what you expected, Retirement Online is the fastest way to update your federal tax withholding. Changes submitted by the middle of the month will generally be applied to that month’s payment.
8. View Your Pay Stubs for Insight Into Your Monthly Pension Payments
Your pension pay stub gives you valuable insight into your monthly pension payment, including a breakdown of credits and deductions for health insurance, union dues, tax withholding or disbursements under a domestic relations order. Throughout the year, you can access your pay stubs online and see year-to-date totals.
9. Update Your Direct Deposit Information Online if Changing Banks or Accounts
Changing financial institutions or accounts will affect whether you receive your monthly pension payment. It’s important to update your direct deposit information with NYSLRS as soon as possible—and you can update your information quickly and conveniently with Retirement Online. Changes submitted online will generally be applied to your next month’s pension payment. Not using direct deposit yet? Don’t wait to receive a check in the mail—direct deposit is fast, convenient and secure. Sign up for direct deposit now and get your money sooner.
10. Generate a Pension Income Verification Letter Quickly and Easily Online
You may need proof of your retirement income for housing or as part of an application for the Home Energy Assistance Program (HEAP). With Retirement Online, you can quickly and easily generate a pension income verification letter any time you need one.
Retirement Online is the fastest way to manage your NYSLRS account. Skip printing forms, having them notarized and sending them through the mail. When you submit your requests online, NYSLRS has them immediately, and your changes will be completed more quickly. It’s convenient and secure. Also, your important documents will be available online, sooner than printed copies are mailed.
If you don’t have an account or for help signing in to an existing account, check out our Retirement Online tools and tips for step-by-step instructions to register, reset your password, unlock your account and more.
Monthly benefit amount after credits and deductions;
Payment method; and
The date of the last payment you received.
Update Your Contact Information
It’s important we have your current contact information so you receive the tax information, news, correspondence and statements we send you.
To update your contact information:
Look under My Profile Information.
Click update next to email address, mailing address or phone number.
You can even schedule an address change, so you’ll get NYSLRS mail at your seasonal home without interruption. Select or enter the effective date in the Change As Of field.
Get Email Notifications for Important Documents
You can help us ‘go green’ and reduce paper waste by choosing email as your delivery preference for correspondence and other important documents. When you have something to view, we’ll send an email notifying you to sign in to Retirement Online. And it will save time—you’ll get access to your important documents sooner than printed copies are mailed.
To update your delivery preferences:
Look under My Profile Information.
Click update next to ‘Contact by,’ ‘1099-R Tax Form Delivery by’ or ‘Retiree Annual Statement by.’
Choose Email from dropdown.
Be sure the email address listed in your profile is current.
If you choose email as your delivery preference, you will not receive a printed copy in the mail.
View Your Pension Pay Stubs
Your pension pay stub gives you valuable insight into your monthly pension payment, including a breakdown of credits and deductions. Throughout the year, you can access your pay stubs online to see year-to-date totals.
To view your pension pay stubs:
Look under I want to… (located at the top right).
Click View Pension Check link.
Select date of the pension payment to view.
Change Your Direct Deposit Information
Whether you’ve switched banks or need to move your deposits to a different account, you can make those changes quickly with Retirement Online. Your changes will generally be applied to your next month’s pension payments.
To update your direct deposit information:
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.
Not using direct deposit yet? Don’t wait to receive a check in the mail—direct deposit is fast, convenient and secure. Sign up for direct deposit now and get your money sooner.
Adjust Your Federal Tax Withholding
Retirement Online is the fastest and most convenient way to complete the W-4P Form and update your federal tax withholding for your NYSLRS pension.
Look under My Account Summary.
Click Update My W-4P Tax Information button.
Follow steps to update your withholding.
If you update your federal tax withholding online by the middle of the month, your changes will generally be applied to that month’s pension payment.
For more information, including instructions for updating your withholding, visit our Taxes and Your Pension page.
Get Your 1099-R Tax Form
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.
To view, save or print your 1099-R tax form:
Look under My Account Summary.
Click Manage My 1099-R Tax Forms button.
Select an option from Year dropdown.
Click Generate button.
Generate a Pension Income Verification Letter
Some organizations may ask for a letter verifying your pension income—maybe for housing or as part of an application for the Home Energy Assistance Program (HEAP). Retirement Online is the fastest way to get a pension income verification letter.
Look under I want to… (located at the top right).
Click Generate an Income Verification Letter link.
Manage Your Beneficiaries
Most NYSLRS retirement plans provide a post-retirement death benefit for beneficiaries of eligible retirees who die after retiring directly from service or within one year of leaving public employment.
It’s a good idea to review your beneficiaries from time to time to make sure they reflect your current wishes. The beneficiary you named before might not be the one you would choose today. You should also review the contact information for your named beneficiaries so we can find them when needed.
To add or remove beneficiaries or update their contact information:
Look under My Account Summary.
Click View and Update My Beneficiaries button.
Get Your Retiree Annual Statement
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. 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.
To view, save or print your Statement:
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.
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.
Retirement Online is the fastest way to manage your NYSLRS account. Skip printing forms, having them notarized and sending them through the mail. When you submit your requests through Retirement Online, NYSLRS has them immediately, and your changes will be completed more quickly. It’s convenient and secure. Check out what 
