Skip to Content

New York State and Local Retirement SystemOffice of the State Comptroller - Home

Member E-News Archives — 2014

Share This Page:
Sign up to make sure you receive the latest Retirement System news.

March 2014

Hot Topics

What It Means to Be Vested You are “vested” when you’ve earned enough service credit to qualify for a pension. Members in Tiers 1 through 4 need five years of service credit to be vested; Tier 5 and 6 members must have ten years. If you leave public employment, you could be eligible for a vested benefit when you reach retirement age. You can learn more about the requirements for vested retirement benefits.

Close to Retirement?

Ways to Verify Date of Birth We cannot pay any pension benefits without proof of your birth date, and if you choose a payment option that provides a lifetime benefit to a beneficiary, we’ll also need proof of your beneficiary’s birth date. You can read the full list of documents we accept as proof on our Pre-Retirement Checklist.

You Should Know: Retirement Online allows you to view your benefit information — such as your contribution balance and beneficiary designations — securely on our website. If you haven’t already enrolled, please take a few minutes to sign up for Retirement Online now.

Sign up to receive emails on other topics of interest from the Comptroller’s Office.

(Return to Top)

February 2014

Hot Topics

News from the Comptroller The Common Retirement Fund’s value grew to about $173.2 billion for the third quarter ending December 31, 2013, the Fund's highest quarterly value ever. New York State Comptroller Thomas P. DiNapoli said that the Fund’s investment strategy contributed to the robust third quarter results. Read the full press release about the Fund.

Keep Your Address Current Have you moved recently? We need your current mailing address so we can provide you with information about your retirement benefits. Read our Change of Address page to see how you can update your address.

Close to Retirement?

Check Your Health Insurance Before You Retire The Retirement System does not manage post-retirement health benefits for its members. If you work for a non-State employer, such as a local government or public authority, contact your health benefit administrator to determine eligibility for post-retirement benefits for you and your family. If you work for the State, visit the Civil Service website for more information.

You Should Know: Retirement Online allows you to view your benefit information — such as your contribution balance and beneficiary designations — securely on our website. If you haven’t already enrolled, please take a few minutes to sign up for Retirement Online now.

Sign up to receive emails on other topics of interest from the Comptroller’s Office.

(Return to Top)

January 2014

Hot Topics

New Changes to Partial Lump Sum Payments Police and Fire Retirement System members who are covered by a special 20- or 25-year plan and are eligible to receive a partial lump sum (PLS) payment of their benefit now have two more choices. In addition to the 5, 10 or 15 percent PLS payment options, eligible members can also choose a 20 or 25 percent option. Read our publication, Partial Lump Sum Payment at Retirement (VO1750), for more information.

Read Your Member Newsletter Online The current editions of The Update PDF icon, our newsletter for active Employees’ Retirement System members, and The Sentinel PDF icon, a newsletter for Police and Fire Retirement System members, are available on our website. Read about the latest retirement information you need to know and learn about your benefits.

Close to Retirement?

Divorce and Your Retirement Your retirement benefits could be affected if you divorce. Retirement benefits are considered marital property, which means your ex-spouse could be entitled to a portion of your benefit when you retire. Any division of benefits with your ex-spouse must be defined in a Domestic Relations Order (DRO). Learn more about divorce and DROs.

You Should Know: Retirement Online allows you to view your benefit information — such as your contribution balance and beneficiary designations — securely on our website. If you haven’t already enrolled, please take a few minutes to sign up for Retirement Online now.

Sign up to receive emails on other topics of interest from the Comptroller’s Office.

(Return to Top)