I Need Verification Of My Pension Income And My Retiree Annual Statement Isnt Acceptable Proof
Our retirees often need pension verification letters for housing or the Home Energy Assistance Program . There are a few ways to request a pension verification letter:
Use Retirement Online to get a quick response to your request. , then click Generate Income Verification Letter. If you dont already have an account, you can learn more and register for Retirement Online today.
You can also:
- Email your request using our secure contact form. Tell us what information you need and be sure to include your daytime phone number, in case our customer service representatives have a question. In most cases, well mail your letter in five to seven business days.
- Fax your request to 518-473-5590. Include your retirement or registration number, current address, signature and phone number in case we have questions. Tell us whether you want the letter mailed or faxed to you .
If you want the letter sent to an entity like a mortgage company, they must fax a request to us on their letterhead along with a signed release from you giving us permission to release your information.
Payment Of A Service Credit
As a Tier 3, 4 , 5 or 6 member, you will usually be required to pay for service currently not credited to you. These payments are known as âarrears.â There are two kinds of arrears: mandatory and optional. Mandatory arrears are required for service you earned as a member but for which you made no contributions. Optional arrears are payments you choose to make to purchase credit for a period of previous or military service. Once you have made payment and have accrued two years of service credit as a member, you can receive that credit. Before you purchase optional arrears, though, you must pay for any outstanding mandatory arrears.
Months Before You Retire
Estimate What Your Pension Will Be
Finding out how much you can expect to receive is an important step in retirement planning. There are several ways for you to estimate your pension:
Learn how divorce can affect your pension
Read our Divorce and Your Benefits page for information about Domestic Relations Orders , and to learn how divorce can affect your retirement benefits.
Retirement benefits are considered marital property and can be divided between you and your ex-spouse when the marriage ends. Any division of your benefits must be stated in the form of a DRO a legal document that gives us specific instructions on how your benefits should be divided.
We offer an easy-to-complete online DRO template. The template is not required but recommended. Because the review process is simplified for submissions using our DRO template, we can complete our review faster if you use it. We will also need a certified copy of your divorce decree.
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Forgotten User Ids Or Passwords
Did you know that you can retrieve your user ID or reset your password on your own? This is a helpful tip to remember, because if you enter an incorrect password three times, your account will be locked.
If youve forgotten your user ID, go to the Retirement Online sign-in page. Click the Forgot ID link above the User ID field. From there, you can identify yourself and answer security questions to receive your user ID. Read our Forgot User ID guide for step-by-step information.
If youve forgotten your password, click the Forgot Password link above the Password field. From there, you can identify yourself with your user ID and answer security questions to reset your password. Read our Forgot Password guide for step-by-step information.
If you become locked out of your account, you can call our customer service representatives at 866-805-0990 . Press 2 to access the member, retiree and beneficiary menu, follow the prompts, and then press 1 for Retirement Online assistance.
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Types Of Retirement Systems In New York
While pensions and money for retirement are the main reasons that certain individuals become public employees, there are many other benefits to belonging to one of New Yorks retirement systems. Youll receive varying levels of death benefits, loans, accidental disability benefits for injuries and vesting long-term benefits. Your tier determines where you fall within the hierarchy of these plans.
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When Will I Receive Death Benefit Payments
Once we receive an original death certificate, we will send named beneficiaries, or their certified representatives , information about any continuing pension benefits and death benefits that may be payable based on the member or retirees tier and retirement plan. We will also send named beneficiaries the appropriate forms to complete.
It could take several months from the date we are notified of a death to the date that any death benefit is paid, or a continuing pension benefit begins. This is the average time necessary to recover any pension payments made after the retirees death and calculate any death benefit that may be due, as well as receive a certified copy of the death certificate, tax withholding forms and notarized forms certifying the identity of named beneficiaries.
How Do I Get A Copy Of My Member Annual Statement
Starting this year, you will be able to sign in to Retirement Online to view and print your statement.
You can also request a reprint by:
- Emailing us using our secure contact form.
- toll-free at .
We cant reprint:
- Statements from previous years.
- Reprints of the current year from March 31 until the mailing for that year is complete .
Remember, your statement provides information as of the end of the State fiscal year . Your Retirement Online account displays more recent information, and it is updated regularly after your employer reports your service and earnings to NYSLRS. If you need account information for a financial institution , please read the Mortgage Letter/Account Verification section of this FAQ.
Looking Up Member Information
If you look up an employees information in PayServ and something doesnt quite match, you can check Retirement Online. The Member Contribution Rates page provides you with the employees correct date of membership, benefit plan, contribution rate, and the date the contribution rate became effective. To look up this information:
- Go to your Retirement Online Account Homepage
- Access your Employer Reporting Dashboard
How to Use Retirement Online
Watch this video on looking up employee information in Retirement Online.
Additional Retirement Plan Information
– a comparison of ERS/TRS as defined benefit plans vs. ORP as a defined contribution plan
Retirement Plan Comparison Video – a comparison of ERS/TRS as defined benefits plans vs. ORP as a defined contribution plan
Ready to enroll? For information on how, visit our Retirement Election & Enrollment web page!
For further information and/or assistance, please contact the Benefits Office at your or campus.
Please note that this information has been prepared as a general summary of the benefits available to SUNY employees. It cannot provide you with the complete details on all benefits related matters. You should carefully review and research the options available to you before making any enrollment decisions. Only authorized representatives from each plan administrator or benefit plan provider are adequately knowledgeable and experienced to fully address your questions or to assist you with many of the technical aspects of their respective programs. The information contained in all SUNY publications and web sites is intended only as a basic summary overview and to provide you with basic points for your consideration. You are invited to contact representatives from the benefit plan in which you are interested for additional information or with specific questions about their respective benefits or coverage.
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Your 2020 Vested Annual Disclosure Statement Is Now Available In Your Secure Mynycers Portal Please Log In To Access Your Electronic Vested Ads And Look For The View My Documents Link Read More
Attention Vested NYCERS Members!
Your 2020 Vested Annual Disclosure Statement is now available in your secure MyNYCERS portal. Please log in to access your electronic Vested ADS and look for the View My Documents link. If you have not registered for a MyNYCERS account, or you registered prior to May 2020, please register to view your Vested ADS.
Be sure to review the beneficiary information and, if you need to make changes, look for the Manage My Beneficiaries link in your MyNYCERS account.
How Do I Sign Up For Direct Deposit
Signing up for direct deposit is easy just complete a Direct Deposit Enrollment Application . Either attach a voided check or have a bank representative complete section three of the form. Once youve enrolled, we will electronically deposit your retirement benefit into your checking or savings account on the last business day of each month.
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I Need To Report A Death
You can report the death of a member or retiree by using our online death report form. You can also report a death by phone or mail. Please note that we will need an original, certified death certificate before any death benefits can be processed or paid.
Online Form: Please complete all required fields on the report a death form and be sure to provide your phone number in case we need to call for additional information. You can upload a photocopy of the death certificate so NYSLRS can begin identifying any benefits that may be payable.
: and press 3 and then 1. You will be asked for the members NYSLRS ID, retirement or registration number and the date of death. You may also be asked for the address and phone numbers of immediate family members who may be beneficiaries.
Mail: NYSLRS will need an original, certified death certificate before any death benefits can be processed or paid. Please mail a death certificate to:
Note: you may wish to send the death certificate by certified mail, return receipt requested.
How Do I Repay My Loan
Loans are repaid through payroll deductions, and they must be repaid within five years. Retirement Online is the easiest way to manage your loan payments. You can check your payoff balance, make a payment, review your payment history, change your payment amount or send additional payments using Retirement Online. You can also use a calculator to estimate a payment amount based on a payoff date, or estimate a payoff date based on a payment amount. Sign in and select Manage My Loans.
If you pay the minimum payment or if you miss payments , your payroll deduction may be automatically increased to ensure that your loans are paid within the required five-year term to avoid default. To keep your payments current when you are off payroll, you may also make a payment using Retirement Online. Please visit the Repaying Your Loan section of our Loans page for more information.
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What Day Are Checks Mailed
Your retirement benefit check is mailed on the second-to-the-last business day of each month for that month . If you have not received your retirement benefit check by the eighth of the following month, please contact us to request a replacement check. If you received your check and it was lost or stolen, contact us immediately. If you email us, be sure to include your telephone number so we can call you.
How Much Is My Cola
If you are already receiving a COLA payment, our automated phone service can tell you your current COLA amount and rate. Call , press 2 for retirees and follow the prompts. Once COLA payments start, they continue automatically and your benefit will be adjusted every September. You will receive a notification of the net change in your monthly pension amount in September if you receive your pension through direct deposit.
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What To Keep In Mind When Working With Payserv
- Before you enroll a new employee in Retirement Online, check to see if the employee has been set up in PayServ first. Set up the new employee in PayServ and enroll them in Retirement Online on the same day so the two online applications will be able to process the employees information correctly.
- When you enter a new employees information into PayServ:
- Be sure to enter the same Agency Code that was used when enrolling the employee in Retirement Online.
- Include the employees date of birth. Do not leave this field blank.
- Enter the correct Social Security number in both PayServ and Retirement Online.
- Be sure to enter the employees annual wage correctly at the time of hiring in PayServ. This determines their contribution rate if they are a new Tier 6 member or have not been a NYSLRS member long enough to have their contribution rate calculated based on their actual earnings.
How To Use Retirement Online
Watch this video on how to enroll optional members in Retirement Online.
I Have Health Insurance Questions
We dont administer health insurance programs. We may deduct premiums from your monthly pension benefit to pay for your health insurance coverage if your former employer instructs us to do so, but we are not able to tell you why your health insurance deduction may have changed.
If you retired from New York State, please direct questions about health insurance coverage or Medicare reimbursement to the New York State Department of Civil Service:
- Phone: 1-800-833-4344 or 518-457-5754 weekdays from 9:00 am 4:00 pm
- Write: NYS Department of Civil Service, Employee Benefits Division, Albany, NY 12239.
If you retired from a public employer other than New York State , please contact your former employers benefits administrator.
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How Do I Apply To Receive Credit For Previous Public Employment
You may be able to receive credit for service with a participating employer before you joined NYSLRS. You can apply:
- Through Retirement Online. Sign in to your account, go to My Account Summary and select View My Employment Summary. If you are missing service credit, return to your Account Summary and select Manage My Service Credit Purchases to request to receive credit for your missing service. You can upload any supporting documentation you may have through Retirement Online as well.
- By mail or email. Complete our form, Request to Purchase Service Credit . You can attach it to an email using the secure contact form on our website, or you can mail it to:
How To Manage And Search Notifications
When working in Retirement Online, you may receive notifications that tell you important information or require you to take action .
The notifications you receive depend on your security role. Our Retirement Online Notifications tool has a list of descriptions for each notification you can receive. You can also see which notifications are informational or actionable.
Watch this video on how to manage your notifications in Retirement Online.
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Whats The Status Of My Loan
If you apply for a loan through Retirement Online, you will receive immediate confirmation that weve received your application, and you can use Retirement Online to check the status of your application.
Whether you apply online or by mail, you can call to check on your loan application. Press 2 for members, then follow the prompts.
Why New York Life
Being a New York Life client means that you get the benefit of working with our financial professionals, who will partner with you for life. Our clients are also backed by a company with a long history and notable financial strengththats the type of security and track record you can rely on.
New York Life is a mutual company. We answer to policy ownersnot to Wall Street. That means that your interests and our interests are aligned.
We believe in the value of human guidance. Life insurance, retirement, and financial products can be complex. Our financial professionals are highly trained and have access to the latest tools and resources to guide you throughout your life as your needs change. They will work directly with you to simplify matters and help you achieve your short- and long-term goals.
Getting started doesnt cost anything. Just connect with one of our financial professionals to discuss your needs. Together, you can clarify your financial position, goals, and aspirations and co-create a plan to ensure youre prepared for whatever life may bring. Our financial professionals can give you a good sense of how much various solutions cost, so you can make the best decisions for you.
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Retirement Online Tools And Tips
Retirement Online provides a safe and convenient way to review your retirement account details and conduct transactions in real time. In many cases, you can use Retirement Online instead of sending forms through the mail or calling NYSLRS. For example, you can create a pension estimate based on information we have on file for you or apply for retirement.
Need help accessing Retirement Online? Heres some handy information to help you sign in, reset your password and more.
Nysna Child Care And Elder Care Fund
NOTICE: July, 2022 – The Trustees of the NYSNA Child and Elder Care Fund are pleased to announce the following enhancement effective July 1, 2022:INCREASE TO THE ANNUAL MAXIMUM BENEFIT
- Full-time nurses may receive a maximum reimbursement amount of $6,000 per fiscal year . The prior maximum reimbursement amount was $5,000.
- Part-time and hourly nurses who work between 22.5 and 37.5 hours per week receive a maximum reimbursement amount of $3,000 per fiscal year . The prior maximum reimbursement amount was $2,500.
Per IRS regulation, any benefits paid over $5,250 will be taxable income to the member. For example, if a nurse utilizes the benefit in full to the maximum , he/she will receive an IRS Form W2 from the fund for $750 in reportable taxable income to be shown on their income taxes. Reimbursement checks in this case will be issued net of tax.If you have any questions concerning your benefits through the NYSNA Child and Elder Care Fund please contact our Benefits Administrator, Administrative Services Only, Inc. at 1-888-692-7671.
Administrative Services Only
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