Tag Archives: secure

Your NYSLRS Pension is Secure

You probably have a lot on your mind right now, but one thing you don’t need to worry about is your NYSLRS pension. Despite the turmoil in the financial markets, your retirement benefits are secure.

“I want to assure the more than one million men and women who rely on the State pension fund for retirement security that we are well-positioned to weather the ongoing volatility,” said New York State Comptroller Thomas P. DiNapoli. “To our retirees, your pensions are safe and we will continue to pay your benefits as promised.”

The New York State Common Retirement Fund, which holds and invests NYSLRS assets, has long been recognized as one of best managed and best funded public pension plans in the nation. The strength of the Fund puts NYSLRS in a good position as we navigate through the current economic turmoil.

The Fund’s professional managers take a conservative approach to investing and focus on sustained, long-term results. This approach allows the Fund to capitalize on investment opportunities in good times and cushions it against market ups and downs. In recent months, as they recognized increased volatility in the market, Fund managers began making adjustments to the Fund’s investment portfolio to prepare for an expected downturn in the economy. They are actively managing the Fund through these difficult times and are confident the markets will ultimately recover.

A Message from NYSLRS About the Coronavirus (COVID-19)

The coronavirus (COVID-19) has disrupted our daily lives in ways large and small. As New York and the rest of the nation work on treatment and containment of this virus, many New Yorkers are concerned about what the future will bring.

The New York State and Local Retirement System (NYSLRS) wants to assure retirees and members who rely on the state pension fund for fiscal security that it is well positioned to weather the volatility in the financial markets.  Your retirement benefits are secure and you will continue to receive your pension payments.

Retirees: Please Sign Up for Direct Deposit

As NYSLRS closely monitors the public health measures being taken to prevent the community transmission of the coronavirus, there are circumstances that could arise that impact the delivery of pension checks, particularly the ability of retirees to go to the bank to deposit them.

sign up for direct deposit to avoid interruptions as a result of the coronavirus

NYSLRS strongly urges retirees to consider signing up for direct deposit, instead of receiving a monthly pension by check via mail delivery. The vast majority of our retirees have their retirement and Social Security benefits deposited directly into their checking or savings account. Direct deposit is quick and safe. To enroll in direct deposit, complete the Electronic Funds Transfer Direct Deposit Enrollment Application (RS6370).