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Office of the New York State Comptroller’s Seal

NYS Comptroller

Thomas P. DiNapoli

Retirement Internet Reporting (RIR System)

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Electronic Debits (Automated Clearing House) Questions and Answers

  1. What are the benefits of participating in Electronic Payments?

    • It’s Easy! — Sending your monthly retirement payments electronically (Automated Clearing House) gives you more control over the timeliness of your payments. The money is directly credited to your Retirement Monthly Report, thereby eliminating the additional steps for handling (like the mail rooms, the post offices, etc.) where checks can be misdirected or lost.
    • It’s Fast! — With electronic payments, your monthly retirement payment is debited directly from your bank account (after an e-mail notification to you).
    • It’s Secure! — Electronic Payment uses the Automated Clearing House (ACH) network, the same system your bank uses to handle transactions with other banks.
  2. What notification will I receive that an electronic payment will be taken?

    You will receive an e-mail notification from the Retirement System. This e-mail notification will give you a two-day advance notice of an electronic debit from your account. This feature can assist you in your cash management process.

  3. Can I be notified at more than one e-mail address?

    The Retirement System can send e-mail notification to whatever e-mail addresses you have provided. In addition, you can of course forward the notification to other staff members in your office.

  4. What if I need to have payments debited from another bank account?

    The Retirement System is only able to debit from the account you designate on your electronic fund application.

  5. Can any employer elect to participate in this program?

    At this time, you can elect to participate only if you currently send your monthly retirement report via the Internet.

  6. If I elect to participate in this program, will I be able to pay all of my retirement payments electronically?

    Currently, the only electronic debits that can be made to New York State and Local Retirement System (NYSLRS) are the payments for your monthly report from the bank account you designate.

  7. What if I decide to change my bank account and/or e-mail address:

    You must submit another Electronic Debit Authorization Form Adobe pdf as soon as possible to NYSLRS.

  8. Am I required to participate in this program?

    No. Electronic Debits is a voluntary program. NYSLRS believes that the advantages of electronic debits (elimination of check handling and delays, plus strengthening of internal controls) are enough to make the program successful. If you do not participate in Electronic Debits, you will have to print out your check and mail it monthly with your monthly report, as you do now.

  9. How long does it take to set up a new user of Electronic Debits?

    It usually takes two to three weeks from the time we receive the completed and signed authorization form to establish your account.