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Office of the New York State Comptroller

Pension Fund Overview

  • Third largest pension fund in the United States
  • $176.8 billion in audited net assets held in trust for pension benefits
  • Over 3,000 State and local government participating employers
  • More than one million members, retirees and beneficiaries
  • $9.7 billion paid out in benefits in fiscal year 2013-14
  • Two different systems: Employees' Retirement System (ERS) and Police and Fire Retirement System (PFRS)

Investments

 

Benefits Paid and Contributions

  • Employer contributions totaled $5.9 billion
  • State government contributions totaled $2.4 billion
  • Local government contributions totaled $3.5 billion
  • Employee contributions totaled $271 million

Member Information

  • Overall membership in the New York State & Local Retirement System (NYSLRS): 1,066,066
    • 643,661 employees (active and vested)
    • 387,278 retirees; 35,127 beneficiaries

Average Pensions

  • Average pension for all ERS retirees in FY 2014: $21,285
  • Average pension for all PFRS retirees in FY 2014: $45,075

Economic Contributions of Retirees

  • $9.7 billion in benefits paid
  • $7.4 billion in spending
  • $10.4 billion in economic activity
  • $1.4 billion in property taxes

(March 31, 2014)