Being part of NYSLRS allows municipal employers to offer workers retirement benefits related to years of service and final average earnings, as well as death and disability retirement benefits.
The process of becoming a participating employer in NYSLRS begins with you providing us with a roster of employee names, current salaries, dates of employment, and dates of birth. We will then prepare an estimate of the cost of participation (as required by Section 430 of the Retirement and Social Security Law [RSSL]), for consideration by your governing body. If you decide to become a participant, your governing body must pass a resolution and submit it to us, along with an affidavit from your fiscal officer stating that you will pay the cost of participation.
Note: Any municipality that employs a police officer or paid firefighter must participate in the Police and Fire Retirement System (PFRS).
NYSLRS staff will help you get started with what you need to know to work with NYSLRS, including enrolling members and reporting their salary and service to us.
Once an employer becomes a participant in NYSLRS, by law, that employer can never terminate its participation.
After an employer has participated in NYSLRS for one full State fiscal year (April 1 – March 31), an initial valuation is performed. This valuation determines any deficiency in the cost of providing benefits to your employees that would not be covered by your regular annual contribution to the system. The deficiency cost covers service credit that an employee may purchase, which would increase their pension benefits. The amount of the deficiency depends on your employees’ years of service, salary and age at the time you become a participating employer. The deficiency is paid in annual installments over 25 years and is included with the annual employer contribution, due February 1 each year.
If you are considering becoming a participating employer, or if you are mandated to be a participating employer, request the cost for participating using our help desk form (select “How to Become a NYSLRS Employer” from the dropdown), or fax your request to our Employer Education and Participation Unit at 518-474-8357.