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.
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
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.
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.
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.
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).
You can use Retirement Online with
complete confidence knowing that your personal account information is safe and
secure. For one thing, Retirement
Online uses the same security safeguards used by banks and other
financial institutions for online transactions. But we also use other important
safeguards, some of which are described below.
security begins the moment you register for your Retirement Online account.
process will take you through a series of steps, where you’ll be asked to
provide personal information, including your date of birth and the last four
digits of your Social Security number. Then you’ll be asked a series of security questions
to verify your identity. These questions are provided by a trusted third-party source.
NYSLRS doesn’t store the questions or your answers.
Next, you’ll need to select a user ID and password. Be sure to create a password that is both strong and easy to remember. You may want to read our Tips for Secure Passwords blog for guidance. Remember to keep your password to yourself. (A NYSLRS representative will never ask for the password to your account.)
When you register,
you’ll also be asked to select how you would like to receive security codes. Security codes help you sign into your
account (see more about signing in below).
Retirement Online uses a
two-step sign-in process to securely sign you in to your account.
First, you’ll enter your user ID
and password, and check the Google reCAPTCHA box. After you click the Sign In
button, you’ll need to receive a security code to complete the sign-in process.
The security code provides an extra layer of protection for your account. The code goes to the device of your choosing, based on the contact preferences you selected when you created your account. Security codes can be received by text message or phone call.
Once you receive and enter the
security code, you can finish signing in to your Retirement Online
You’ll have the
option of registering a device, such as a laptop or desktop computer, so you
can skip the security code when signing on with that device. If you choose to
do this, make sure it’s a private, secure device that only you will use. Don’t
register a public device, such as a computer at the library.
Retirement Online provides a safe and convenient way to review your retirement account details and conduct transactions in real time. In many cases, you can use Retirement Online instead of sending forms through the mail or calling NYSLRS. Need help accessing Retirement Online? Here’s some handy information to help you sign in, reset your password, and more.
Registering for Retirement Online
When you sign up for a Retirement
Online account, for security reasons, you will be asked to identify
yourself, confirm your Social Security number, verify your identity and create
credentials. Read our Registering
for Retirement Online guide for help with the registration and sign
Retirement Online uses a
two-step sign-in process to securely sign you in to your account. First, you’ll
enter your user ID and password, and check the Google reCAPTCHA box. After you
click the Sign In button, you’ll receive a security code to complete the
Your security code can be sent to
you through an automated phone call or as a text message to your cell phone. Request
the security code once and wait to receive the code.
If you receive the security code by text message, you must enter the six-digit code provided in the body of the text message.
Once you enter the security code, you can access your account.
Forgotten User IDs or Passwords
Did you know that you can retrieve your user ID or reset your password on your own? This is a helpful tip to remember, because if you enter an incorrect password three times, your account will be locked.
If you’ve forgotten 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. From
there, you can identify yourself with your user ID and answer security
questions to reset your password. Read our Forgot
Password guide for step-by-step information.
In the event you become locked out
of your account, you can call our customer service representatives at
1-866-805-0990 (518-474-7736 in the Albany, NY area). Press 2 to access the
member, retiree and beneficiary menu, follow the prompts, and then press 1 for Retirement
Retirement Online is available Monday thru Friday 7:00 am – 6:00 pm and weekends 6:00 am – 11:00 pm. Over time, we will expand our hours to better serve you. For more information, please visit our Retirement Online Learn More page.