Pension Fund Overview

  • Third largest pension fund in the United States
  • Value of $194.3 billion in assets held in trust for pension benefits as of March 31, 2020
  • Over 3,000 State and local government participating employers
  • More than one million members, retirees and beneficiaries
  • Two different systems: Employees' Retirement System (ERS) and Police and Fire Retirement System (PFRS)

Investments

Pie chart representing the percentage breakdown of asset classes

As of March 31, 2020

Benefits Paid and Contributions

  • $13.25 billion paid out in benefits in fiscal year 2019-2020
  • Employer contributions totaled $4.78 billion
  • State government contributions totaled $1.75 billion
  • Local government contributions totaled $3.0 billion
  • Employee contributions totaled $453.7 million

Member Information

  • Overall participants in the New York State & Local Retirement System (NYSLRS): 1,160,743
    • 673,336 employees (active and vested)
    • 487,407 retirees and beneficiaries

Average Pensions

  • Average pension for all ERS retirees in FY 2020: $25,105
  • Average pension for all PFRS retirees in FY 2020: $54,684

Economic Contributions of Retirees (except where noted is in calendar year 2019)

  • $10.8 billion in benefits paid (in fiscal year 2019-20)
  • $15.2 billion in economic activity
  • $2 billion in property taxes