Monthly Archives: August 2017

After You Retire

We’ve written a lot about preparing for retirement — how you should purchase any credit for past service, get a pension estimate, prepare a retirement budget, and more. But, what about after you retire? “So long, NYSLRS! Just keep the monthly payments coming.” Is that it?

Not exactly.

Sign Up for Retirement Online

We recently launched the new Retirement Online, a secure site that allows you to check important NYSLRS information, like the deductions from your latest payment and a summary of your benefits. You can also view or update beneficiaries and generate income verification letters right from your computer.

To access Retirement Online, visit the NYSLRS home page, then click “Register” or “Sign In.”

If You Move, Let Us Know

The United States Postal Service usually won’t forward pension checks to another address. (You may want to sign up for our direct deposit program.) But, pension payments aside, there are other things you’ll want from us once you retire. If we have your correct address on file, you’ll be sure to receive:

  • Your 1099-R form. Your pension isn’t taxed by New York State, but it is subject to federal income tax.
  • Your Retiree Annual Statement. It’s a helpful reference that spells out the benefits, credits and deductions you receive each year.
  • Any official notifications.
  • Your Retiree Notes

The fastest way to update your address is through Retirement Online. You can also mail a signed letter (with your name, old address, new address, date of change and retirement registration number) to:

NYSLRS
Attn: Pension Services
110 State Street
Albany, NY 12244-0001

Keep Your Beneficiaries Current

Reviewing your beneficiary designations periodically is important. By keeping them up to date, you ensure that any post-retirement death benefit will be distributed to your loved ones according to your wishes. You can use Retirement Online to change your death benefit beneficiaries at any time. Or, contact our Call Center, and we will send you the necessary form. If you aren’t retired yet, submit a Designation of Beneficiary form (RS5127).

Keep Your Loved Ones Informed

Your family or friends have to know to notify us when you die, so we can pay out any benefits to your designated beneficiaries. They can phone our Call Center or notify us by mail. Either way, we will also need a certified copy of your death certificate. You and your loved ones can find more information in our Getting Your Affairs in Order and a Guide for Survivors (VO1874) publication.

Life Changes: A Guide for Retirees (VO1705)

Check out this publication for information about other benefits you may be entitled to and the services we offer retirees.

See You at the Fair

The Great New York State FairThe 177th Great New York State Fair opens next week and NYSLRS will be there.

The 13-day celebration of everything New York kicks off on Wednesday, August 23 and runs through Monday, September 4 (Labor Day). Our information representatives will be at the fairgrounds, as they have been for the past 20 years, to help members and retirees with their retirement planning and benefit questions. In the past, many NYSLRS members have stopped by the booth to get a benefit projection. You’ll also be also be able to pick up retirement plan brochures and forms or have a consultation with one of our information representatives.

The NYSLRS booth will be in the Center of Progress Building, building 6 on the State Fair map, near the Main Gate. Once inside, you can find us against the wall on the east side.

Find Unclaimed Funds at the State Fair

OSC’s Office of Unclaimed Funds booth will be in the same building, just across from the NYSLRS booth. An unclaimed fund is lost or forgotten money, perhaps in old bank account or insurance policy that has been turned over to the State. See if any of that money might be yours. So far this year,  State Comptroller Thomas P. DiNapoli and the Office of Unclaimed Funds has returned more than $250 million.

The Retired Public Employees Association (RPEA) will also have a booth in the Center of Progress Building.

Special State Fair Days

Wednesday, August 23

  • Preview Day — $1 admission

Friday, August 25

  • Pride Day — LGBT choirs, parade

Monday, August 28

  • Law Enforcement Day — Free admission for law enforcement personnel and corrections officers
  • Senior Citizen’s Day — Free admission for senior citizens (60+)

Tuesday, August 29

  • Comptroller DiNapoli Visits the Fair — He manages the $197 Billion State Pension Fund and is the administrator of NYSLRS. He’ll be stopping by NYSLRS’s booth during the day.
  • Fire & Rescue Day — Free admission for active and retired members of fire departments and emergency services organizations
  • Senior Citizen’s Day — Free admission for senior citizens (60+)

Wednesday, August 30

  • Women’s Day

Thursday, August 31

  • Armed Forces Day — Free admission for active duty or veterans

Note: ID required for free admissions listed above. For details, check out the complete schedule of Special Fair Days.