So how do we determine service credit for school employees?
Service Credit for School Employees
As a member, you receive service credit for paid public employment beginning with your date of membership. That credit is based on the number of days you work, which your employer reports to us.
If you’re working full-time, you receive one year of service per school year, even if you only work 10 months of the year.
For part-time work, your employer calculates days worked by dividing the number of hours worked by the hours in a full-time day. The number of hours in a full-time day is set by your employer (between six and eight hours). So, for example, if a 40-hour work week is considered full-time for your employer, and you work 20 hours a week for a given school year, you will receive half a year of service credit.
Calculating Service Credit
Usually, a full-time, 10-month school year is at least 180 days. However, depending on your employer, a full academic year can range from 170 days to 200 days. Whether you work full- or part-time, your service is based on the length of your school year:
For all BOCES and school district employees, as well as teachers working at New York State schools for the deaf and blind: Number of days worked ÷ 180 days
For college employees: Number of days worked ÷ 170 days
For institutional teachers: Number of days worked ÷ 200 days
Note: NYSLRS members can only earn one year of service credit per calendar year. For example, if you work full-time during the school year, you will not earn additional service credit if you also work during the summer.
Check Your Service Credit
You can sign in to Retirement Online to find your current estimated service credit. Look for Total Estimated Service under My Account Summary.
If you’re not sure whether you’re earning full-time or part-time service, you can check your most recent Member Annual Statement to see how much service you earned over the past fiscal year. In your Retirement Online account, click the View My Member Annual Statement button.
If you are receiving full-time service, it will say “1.00 Years” for “Service Credited from 4/1/2023 – 3/31/2024.” Remember, the total credited service you will see listed on your Statement was as of March 31, 2024. For more information about service credit, read our publication Service Credit for Tiers 2 through 6 (VO1854) or find your retirement plan publication.
Sometimes a small misunderstanding can have a big impact on your retirement benefits. We debunked some common retirement myths in an earlier blog post. Here are five more myths you should be aware of.
Retirement Myths vs Facts
I updated my contact information with my employer, so I don’t need to update it with NYSLRS.
You need to update your contact information with both your employer and NYSLRS. Your employer does not provide updated member contact information to us. Make sure we have your current mailing address, phone number and email address on file so you receive the news, correspondence and statements we send you. Retirement Online is the fastest way to view and update your contact information with NYSLRS.
I can’t estimate my pension benefit until I’m close to retirement.
Even if you are years away from retiring, you can estimate your pension benefit in minutes using Retirement Online. Enter different retirement dates and beneficiaries to see how your choices affect your potential benefit and customize your estimate by adjusting your earnings if you anticipate a pay increase before you retire. (Note: Some members may not be able to use the Retirement Online pension calculator because of their circumstances—the system will notify you if your estimate cannot be completed, and you can send us a message using our secure contact form to request one.)
If I retire with an outstanding loan, my pension payment will be reduced temporarily until the loan is paid off.
If you retire with an outstanding loan, your pension will be permanently reduced.* We do not withhold loan deductions after retirement and apply it toward the outstanding balance until it’s paid in full.
Also, all or part of your outstanding loan balance may be subject to federal income taxes. If you retire before age 59½, the IRS may charge an additional 10 percent penalty.
*Employees’ Retirement System (ERS) members can repay their NYSLRS loan after they retire. However, you would need to pay the full balance of the loan in a one-time lump sum payment. Your pension would then be recalculated to remove the reduction and your monthly payment would increase going forward, but it would not be retroactive to your date of retirement.
The only way to file for retirement and begin receiving my pension is by completing a bunch of paper forms.
You can apply for retirement in Retirement Online, which is faster and more convenient than printing and mailing forms, and there’s nothing to have notarized. And when you apply online, you can also make changes online before your date of retirement—for example, if you need to change your banking or tax information. Watch our video for more information.
I can change my pension beneficiary after I retire.
Most retirees have 30 days from the start of the month following their retirement date to change their option election. After those 30 days, only certain pension payment options let you change your beneficiary.
The Single Life Allowance option provides the maximum monthly benefit payment to you for the rest of your life, but all payments stop upon your death, so nothing will be paid to a beneficiary.
The Five Year Certain or Ten Year Certain options provide benefit payments to a beneficiary for a finite period if you die within five or ten years of your retirement—if you choose one of these options, you can change your beneficiary at any time. If you live beyond the five- or ten-year period, your beneficiary will not receive a pension benefit upon your death.
Note, most retirement plans also provide a post-retirement death benefit, which is a one-time lump sum payment to your beneficiaries—you can change your beneficiaries for this at any time.
You can find more facts about your NYSLRS benefits in your retirement plan publication. If you have account-specific questions, please message our customer service representatives using our secure contact form.
Your 2024 Member Annual Statement is a snapshot of your NYSLRS account as of March 31, the end of the State Fiscal Year. Statements are now available in Retirement Online.
Members who opted to go paperless already received an email notifying them their Statement is available in their Retirement Online account. If you did not change your delivery preference to email, your Statement will be mailed to you by the end of June.
Click the “View My Member Annual Statement” button.
Follow the prompts.
Review your Statement carefully to make sure it’s correct.
You can use Retirement Online to:
Update your contact information.
Change your last name.
Manage your beneficiaries and update their contact information.
Visit our Member Annual Statement page if you have questions or need to correct other information in your Statement, such as the earnings reported to us by your employer or your date of birth.
Next Year Don’t Wait for the Mail
Your Statement becomes available online in early May each year. Get yours faster and help us ‘go green’ — update your delivery preference now to receive an email as soon as next year’s Member Annual Statement is available online, instead of waiting to receive it in the mail.
Estimate Your Pension Benefit. Your Statement may include one or more projections of your monthly retirement benefit. In Retirement Online, most members can create customized benefit estimates and calculate their pension payment options and enter different retirement dates and beneficiaries to see how your choices affect your potential benefit.
Review Employment History and Service Credit. You can view your recent employment history, reported earnings for the past five years and current total estimated service credit in Retirement Online. If you think you may be eligible for past service that’s not included in your employment history, you can request to purchase that service credit. Make sure to buy past service credit as soon as possible.
Manage Loan Balances or Apply for a Loan. Check Retirement Online for your current loan balance on any existing loans and manage your loan payments. It’s also the fastest and easiest way to apply for a loan with NYSLRS. You can see how much you are eligible to borrow, what the repayment amount would be and if your loan will be taxable.
Most NYSLRS pensions are subject to federal income tax. If your last federal tax bill or return was larger than you expected and you want to change the amount withheld from your NYSLRS pension, Retirement Online makes it fast and convenient to update your federal tax withholding. If you haven’t signed up yet, learn more about Retirement Online and click “Register Now” to open your account.
Understanding Your Federal Tax Withholding
NYSLRS calculates the amount withheld from your monthly benefit payment based on the information you provide us on a W-4P form (Withholding Certificate for Pension or Annuity Payments).
The Internal Revenue Service (IRS) released a revised version of their W-4P form, which no longer allows tax filers to adjust their withholding by electing a specific number of allowances. To comply with the IRS’ requirements, NYSLRS updated our tax withholding form. You do not need to submit a new W-4P to NYSLRS unless you want to change the amount of your tax withholding.
Updating Your Withholding
Retirement Online provides an online form that collects the same information as the paper W-4P form, and your updates will be made more quickly if you submit them online.
From your Account Homepage, click the green “Update My W-4P Tax Information” button.
Follow the steps to update your withholding.
Basic Withholding
Step 1. Select your filing status. If you want your federal withholding to be based only on the benefit amount you receive from NYSLRS, with no adjustments, you can skip steps 2 – 4.
Adjustments to Withholding (Dependents, Tax Credits)
Complete Steps 2 – 4 ONLY if they apply to you.
Step 2. If you have income from a job or more than one pension/annuity, in addition to your NYSLRS pension, or if you’re married filing jointly and your spouse receives income from a job or pension/annuity, you can enter that in Step 2.
If you update your federal withholding online by the middle of the month, your changes will generally be applied that month. We’ll notify you by mail or email (depending on your contact preference) when the update has been completed.
If You Need Help
Our Taxes and Your Pension page has additional information about federal withholding, including what to do if you receive more than one benefit payment from NYSLRS, 1099-R tax form information and more.
If you need assistance completing the form, visit the IRS’ website and read the current revision of the IRS Form W-4P (detailed instructions start on page 2). You can also find phone numbers and online resources on the IRS’ Let Us Help You page.
If you’re not sure whether you need to adjust your federal withholding or if you have other tax questions, you may want to check with a tax preparer.
Here is an important retirement planning tip — most members can create their own pension estimate in minutes using Retirement Online. Your estimate will be based on the most up-to-date account information we have on file for you. You can enter different retirement dates to see how those choices would affect your benefit. When you’re done, you can print your pension estimate or save it for future reference.
Remember, the pension amounts you’ll see are just an estimate; it is not a guarantee of what you’ll receive when you retire.
Most Tier 2 through 6 members (more than 90 percent of all NYSLRS members) can use the Retirement Online pension calculator. However, some members may not be able to because of their circumstances — for example, members who recently transferred to NYSLRS, some PFRS members, or Tier 6 members with between five and ten years of service. The system will notify you if your estimate cannot be completed using the Retirement Online pension calculator. Please contact us to request a pension estimate if you receive this notification.
Planning on taking out a NYSLRS loan? Applying through Retirement Online is fast and convenient.
Eligibility for a NYSLRS loan is based on your tier. Generally, you’ll need to be on the payroll of a participating employer, have at least one year of service and have sufficient contributions in your account. (Note: Retirees are not eligible for NYSLRS loans.)
Retirement Online is the Fastest Way to Apply
When you use Retirement Online, NYSLRS receives your application immediately and can process your loan more quickly. It’s also an easy way to check the amount you are eligible to borrow, your balance on any outstanding loans, and more.
In the ‘I want to…’ section, click the “Apply for a Loan” button.
Follow the prompts.
As you work your way through the online application, you’ll see:
How much you are eligible to borrow;
The minimum repayment amount;
The expected payoff date; and
How much you can borrow without tax implications.
If you apply for a loan and you already have an existing loan (or loans), you’ll choose one of two options:
Multiple loans: With multiple loans, you are taking a new loan, and each of your outstanding loans has a separate five-year due date and minimum payment. The minimum payments for each of your loans are added together for one total minimum payment. This combined minimum payment amount is higher than the minimum would be if you choose a refinanced loan, but with multiple loans, as each loan is paid off, your total minimum payment goes down.
Refinance your existing loan: Refinancing your loan adds your new loan amount to your existing balance and consolidates the entire amount as one loan instead of taking separate loans. Minimum payment amounts for refinanced loans are lower than the minimum for multiple loans because when you refinance, we combine your existing loan balance with your new loan and spread out the repayment over a new five-year term. However, this increases the portion of your loan that may be considered a taxable distribution, and federal withholding can significantly reduce the loan amount that you receive.
There is a service charge of $45 that will be deducted from your loan check when it is issued. The current interest rate is 5 percent. The interest rate will remain fixed for the term of your loan.
If your case status says “Closed” before close of business on Wednesday, your check will be in the mail that Friday.
You will also receive a confirmation letter when your loan case has been completed. You can find it in your Retirement Online account under “View Documents.”
Repaying Your NYSLRS Loan
Loan payments are deducted from your paycheck. If you choose to repay the minimum amount, your payroll deduction may be increased periodically to ensure your loan will be repaid within the required five-year repayment term. You can increase your payroll deduction amount, make additional payments or pay your loan in full at any time with no prepayment penalties. Retirement Online is the easiest way to manage your loan payments. Sign in to your account and select “Manage my Loans.”
Retiring With an Outstanding NYSLRS Loan
If you retire with an outstanding loan, your pension will be reduced. You will also need to report at least a portion of the loan balance as ordinary income (subject to federal income tax) to the IRS. If you retire before age 59½, the IRS may charge an additional 10 percent penalty. If you are nearing retirement, be sure to check your loan balance. If you are not on track to repay your loan before you retire, you can increase your loan payments, make additional lump sum payments or both in Retirement Online.
Note: Employees’ Retirement System (ERS) members may repay their loan after retiring, but they must pay the full amount (that is, the amount that was due on their retirement date) in a single lump-sum payment. Once you do, your pension benefit will increase from that point on, but it will not be adjusted retroactively back to your date of retirement.
Visit Our Website for More Information
For more information about NYSLRS loans, including what happens if you go off payroll or default on your loan, visit our Loans page. Need help with Retirement Online? See our Tools and Tips blog post.
NYSLRS retirement plans provide death benefits for beneficiaries of eligible members who die before retiring. If you are retired, your beneficiaries may be entitled to a post-retirement death benefit.
It’s important to name beneficiaries and review them periodically. Life circumstances sometimes change, and the beneficiary you named before might not be the one you would choose today. For example, if you just married, you may want to update your NYSLRS account information to name your new spouse as your beneficiary.
2 Types of Beneficiaries
Your primary beneficiary will receive your death benefit. You can list more than one primary beneficiary. If you do, they will share the benefit equally. Or you can choose different percentages for each beneficiary to total 100 percent. (Example: John Doe, 50 percent; Jane Doe, 25 percent; and Mary Doe, 25 percent.)
A contingent beneficiary will only receive a benefit if all your primary beneficiaries die before you do. If you list multiple contingent beneficiaries, they will share the benefit equally unless you choose different percentages.
Special Beneficiary Designations
Your beneficiary doesn’t have to be a person. You can name a charity, a trust or your estate as your beneficiary.
Estate. When you die, your estate is the money and property you owned. Your death benefit will be given to the executor of your estate to be distributed according to the terms of your will. You can name your estate as the primary or contingent beneficiary of your death benefit. If you name your estate as the primary beneficiary, do not name a contingent beneficiary.
Trust. You can name a trust as a primary or contingent beneficiary if you have a trust agreement or provided for a trust in your will. The trust itself would be your beneficiary, not the individuals for whom you established the trust. (Speak with your attorney if you’re thinking about making your trust a beneficiary.)
Entity. You can also name any charitable, civic, religious, educational or health-related organization as a beneficiary.
Minor children. If your beneficiary is under the age of 18 at the time of your death, your benefit will be paid to the child’s court-appointed guardian. You may instead choose a custodian to receive the benefit on the child’s behalf under the Uniform Transfers to Minors Act (UTMA). Custodians can be designated in Retirement Online or you can contact us for more information and the appropriate form before making this type of designation.
Keep Your Beneficiaries Up to Date
You can change your beneficiaries at any time. In addition to adding or removing them to reflect your current wishes, you should review the contact information for your named beneficiaries so we can find them when needed.
The fastest way to view or update your beneficiaries is in Retirement Online.
Member Annual Statements are distributed to NYSLRS members each spring. Don’t wait for a mailed copy — get your Statement online instead! You can update your delivery preference in Retirement Online to receive an email when your Statement is available.
From your Account Homepage, click “update” next to ‘Member Annual Statement by.’
Choose “Email” from the dropdown.
Check and Update Your Contact Information
Retirement Online is the fastest way to check your contact information and update it if needed. If you don’t already have an email address on file, please provide it so that we can contact you quickly if we need to notify you about important information such as a change to your benefits. Use a personal email address you will have access to before and after you retire, rather than a work email address. You should also make sure your mailing address and phone number are current.
To update your contact information, click “update” next to your email address, mailing address or phone number to make corrections.
Use Retirement Online to Stay Informed
Your annual Statement is a snapshot of your NYSLRS account as of March 31. For the most up-to-date information year-round, sign in to your Retirement Online account.
In Retirement Online, you can view your date of membership, tier, retirement plan, estimated total service credit and more. Check out what else members can do in Retirement Online.
When it comes to managing your NYSLRS account, Retirement Online is the fastest way to do it. 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 it’s secure.
Here’s a look at some of the things NYSLRS members (not yet retired) can do online.
View Your Account Information
Sign in to Retirement Online for easy access to key information to help you plan for retirement. On your Account Homepage, you can find your date of membership, tier, retirement plan (which you can use to find your retirement plan publication), estimated total service credit and more.
Change Your Delivery Preference to Email and Help Us ‘Go Green’
Save time and reduce paper waste — help us ‘go green’ by choosing the paperless option. When you choose to receive information from NYSLRS electronically, we will send you an email when important documents and letters are ready to view in Retirement Online.
From your Account Homepage, click the “update” link next to ‘Contact by’ or ‘Member Annual Statement by.’
Choose “Email” from the dropdown menu.
If you choose “Email” as your delivery preference, you will not receive a printed copy in the mail.
Update Your Contact Information
It’s important that we have your current contact information so you receive the news, letters and statements that we send you. You can update your email address, mailing address and phone number in the ‘My Profile Information’ section of your Account Homepage. Just click “update” next to the item you’d like to change. Use a personal email address that you will have access to before and after you retire, rather than a work email address.
View and Update Your Beneficiary
NYSLRS retirement plans provide death benefits for beneficiaries of eligible members who die before retiring. It’s a good idea to review your beneficiaries from time to time to make sure your choices reflect your current wishes. Retirement Online is the fastest way to add or remove beneficiaries or update their contact information. Click the “View and Update My Beneficiaries” button to get started.
Estimate Your Pension
How much will your pension be? It’s an important question as you’re planning for retirement. In just a few steps, most members can estimate their retirement benefit based on up-to-date account information, then save or print the estimate. Entering different dates and comparing the results can help you choose the retirement date that’s right for you. From your Account Homepage, click the “Estimate my Pension Benefit” button.
Apply for a Loan and Manage Loan Payments
It’s easy to apply for a loan in Retirement Online. If you are eligible to take a loan against your retirement contributions, you can see how much you can borrow, your repayment options and whether your loan will be taxable — all before you apply. Click the “Apply for a Loan” button to start an application.
If you have an existing loan, you can click the “Manage My Loans” button to adjust your payment amount or to make an additional one-time payment.
Request Credit for Previous Service
If you worked for a participating public employer before joining NYSLRS, or if you served in the U.S. Armed Forces, you may be able to purchase service credit for that time. Click the “Manage My Service Credit Purchases” button to request credit and upload any supporting documentation.
Purchase previous service credit as soon as possible. It’s cheaper and will make it easier to calculate your final monthly pension payment.
Get Your Member Annual Statement Faster
Your Member Annual Statement can help you understand your benefits. It’s a snapshot of your NYSLRS account based on the information we have on file for you as of March 31 each year, the close of our fiscal year. Statements are available online each spring, sooner than printed copies are mailed — update your delivery preference to “Email” to get notified when it’s available online.
Generate a Mortgage Verification Letter
If you need to provide proof of your NYSLRS account information for a mortgage, you can get your own income verification letter online. From your Account Homepage, in the ‘I want to…’ section at the top right, click the “Generate Income Verification Letter” link. You can print a document that shows your contribution balance, and — if you have an outstanding loan — the date of your last loan, the current balance and the interest rate.
Apply for Retirement
When you are ready to retire, Retirement Online allows you to skip the hassle of mailing paper forms or visiting our office. You can apply for a service retirement benefit, choose your pension payment option, sign up for direct deposit and submit retirement-related paperwork online. A big advantage of applying online is that you don’t have to get anything notarized. Read our blog post about applying for retirement for more information and links to resources.
Other Online Transactions
If you previously were a member of another New York State public retirement system before joining NYSLRS, your service could be recredited and your date of membership and tier restored. You can click the “Reinstate a Previous Membership” button to get started.
If you leave public employment with less than ten years of service credit, you can use Retirement Online to withdraw your membership. However, this will terminate your membership with NYSLRS. If you have any questions, speak with a customer service representative before you submit your withdrawal application. You can message them using our secure contact form.
If you need help accessing Retirement Online, here’s some handy information to help you register, sign in, reset your password and more.
Registering for Retirement Online
For security reasons, when you sign up for an account, you will be asked to identify yourself, confirm your Social Security number and verify your identity. Then you’ll be asked to create your user ID and password. Read our Registering for Retirement Online guide for help with the registration process.
After you sign in for the first time, you’ll be asked to choose security questions and submit answers. Make sure you remember your responses — you’ll need to answer these questions again if you are ever locked out of your account or need to reset your password.
Keep Your Password Current
Be sure to sign in at least once a year and update your password so it doesn’t expire.
Forgotten User IDs or Passwords
You can retrieve your user ID or reset your password on your own.
To look up your user ID, go to the Retirement Online sign-in page. Click the “Forgot ID” link above the User ID field. From there, you can identify yourself and answer security questions to receive your user ID. Read our Forgot User ID guide for step-by-step information.
If you’ve forgotten your password, click the “Forgot Password” link above the Password field. You’ll identify yourself with your user ID and answer security questions to reset your password. Read our Forgot Password guide for step-by-step information.
Account Lock Out
When signing in to Retirement Online, you have a limited number of attempts to enter your user ID and password correctly. After that, the system will lock your account for security purposes. If this happens to you, don’t worry. Most users can unlock their own account and set a new password in just five steps.
Click “OK” on the pop-up message saying your account is locked.
Select how you want to receive your security code and click “Next.”
Enter the security code you received and click “Submit.”
Correctly answer secret questions that you created when you first registered.
Enter a new password and click “Reset Password.”
What Web Browser to Use
Retirement Online works best in Microsoft Edge and Google Chrome. If you’re having trouble signing in, clearing your browsing data may help. Read our Clear Your Cache guide for step-by-step information.
Retirement Online is generally available:
Monday, Wednesday and Friday from 7:00 am to 10:00 pm
Tuesday and Thursday from 7:00 am to 6:00 pm
Weekends from 6:00 am to 11:00 pm
Over time, we will expand our hours to better serve you. For more information and the latest hours of availability, please visit our Retirement Online Sign In page.
You can find more information and tips on our Retirement Online page. If you need help, contact our customer service representatives for assistance. You can call them at 866-805-0990. Press 2 and follow the prompts. The Call Center is open Monday through Friday, from 7:30 am to 5:00 pm.
While most New York teachers and administrators are in the New York State Teachers’ Retirement System, other school employees are members of the New York State and Local Retirement System (NYSLRS). In fact, 1 out of 5 NYSLRS members works for a school district. Usually, their employment is tied to the school year, which is often 10 or 11 months long.
