Becoming a participating employer begins a partnership with NYSLRS that we take pride in. Without your cooperation and assistance, we would not be able to provide members with the benefits they have earned. We rely on you to provide us with key information about your employees throughout their employment. And you rely on NYSLRS to administer benefits accurately and timely to your employees.
One of the most important responsibilities you have as a participating employer is ensuring every employee is aware of the opportunity to join NYSLRS. By law, employers must notify new employees in writing of their right to join NYSLRS when they begin employment.
Employers send us data on the salaries paid and days worked for NYSLRS members. The accurate and timely reporting of employees’ salary is extremely important because the reported salary determines their final average earnings, one of the factors used to calculate retirement benefits. It also helps us determine your annual contribution to NYSLRS. Days worked are used to determine service credit, which is another one of the important factors used to calculate retirement benefits.
Employers also help us deliver benefit information to our members. NYSLRS provides a wealth of information to members on our website and through Retirement Online. We'll send you emails and e-newsletters with links that you can send to your employees to help answer the questions your employees ask about such topics as loans, transfers, service credit, disability and death benefits, retirement and final average earnings.
You are critical to our ability to provide members with the pension benefits they have earned. We understand the responsibility this can sometimes place on you. That’s why we’re continually working on ways to strengthen our partnership and make the flow of information between us as useful, accurate, timely and efficient as possible.