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New York State and Local Retirement System

Retiree Annual Statement — Frequently Asked Questions

  1. Should I be concerned about the security of my pension because of the recent economic crisis?
  2. When will I receive my Retiree Annual Statement?
  3. I currently receive my pension payment by check. How do I enroll in Direct Deposit?
  4. I pay my health insurance premiums monthly but don’t see deductions for them on my Statement. Why?
  5. What are Miscellaneous Deductions on my Statement?
  6. The amount I receive each month is not the same as what’s shown on my Statement. Why?
  7. How can I change my federal income tax withholding?
  8. Why didn’t I get my Statement or 1099-R form?
  9. I’ve recently moved. How can I update my address?
  10. I chose a pop-up option when I retired. My benefit was popped-up because my beneficiary died, but my Statement still shows a pop-up option (Option 8 or 9), instead of Option 0. Why?
  11. How can I obtain a copy of the Pension Payment Calendar, which shows the check mailing and direct deposit dates?
  12. How can I obtain information about my death benefit and beneficiaries? That information isn’t on my Retiree Annual Statement.
  13. It’s helpful to receive an annual Statement, but I’d like to check my pension information more frequently. Is there a way I can do this?

  1. Should I be concerned about the security of my pension because of the recent economic crisis?

    The Common Retirement Fund remains safe and secure. In fact, the State of New York continues to have one of the best-funded public pension systems in the United States and the Fund remains fully able to meet our obligations to all its retirees and beneficiaries. The Fund remains strong because of our diversified investment strategy and long-term approach. In addition, the New York State Constitution guarantees your pension will not be diminished. You can be assured that you will receive your pension for your lifetime.

  2. When will I receive my Retiree Annual Statement?

    We begin mailing Statements in late February. Most retirees receive their Statements in March.

  3. I currently receive my pension payment by check. How do I enroll in Direct Deposit?

    You can enroll in our Direct Deposit Program by completing a Direct Deposit Application (RS6370L-3) Adobe pdf and returning it to:

    New York State and Local Retirement System

    Attention: Direct Deposit Unit, 6th floor

    110 State Street

    Albany, NY 12244-0001

  4. I pay my health insurance premiums monthly but don’t see deductions for them on my Statement. Why?

    Your paid health insurance premiums are reflected on your Statement only if they were deducted directly from your pension payment. If they were paid out-of-pocket or from another source, your Statement will show $0.00. Please note that the Retirement System does not administer health insurance benefits. If you have questions about your health insurance deductions, please contact your benefit provider.

  5. What are Miscellaneous Deductions on my Statement?

    Common Miscellaneous Deductions include dues and fees. You agreed to allow an organization, such as your union, to take these payments when the deductions began. If you have questions about the payments or want them stopped, you must contact that organization.

  6. The amount I receive each month is not the same as what’s shown on my Statement. Why?

    Your total normal benefit is the amount of pension before taxes, cost-of-living adjustments (COLA) and other credits or deductions that have been applied to your pension.

  7. How can I change my federal income tax withholding?

    You may change your tax withholding status at any time by filling out a W-4P form Adobe pdf, and sending it to us at:

    New York State and Local Retirement System

    Attention: Tax Unit, 4th floor

    110 State Street

    Albany, NY 12244-0001

  8. Why didn’t I get my Statement or 1099-R form?

    One reason may be because we have an incorrect address on file. If you’ve recently moved, be sure to update your address with the Retirement System. We also don’t issue a 1099-R form if you are receiving a disability retirement benefit that isn’t taxable.

  9. I’ve recently moved. How can I update my address?

    If you need to change your mailing address, and your new address is not a PO Box or foreign address, you can contact our Call Center toll-free at 1-866-805-0990, or 518-474-7736 in the Albany, New York area. Once you are connected, press “2” for retired and receiving a pension, then “6” for other services and then “1” to report your change of address. If your new address is a PO Box or foreign address, you must send us a signed letter requesting the change. If you prefer, you can fill out and return the change of address form included in the News & Notes newsletter mailed with your Statement.

  10. I chose a pop-up option when I retired. My benefit was popped-up because my beneficiary died, but my Statement still shows a pop-up option (Option 8 or 9), instead of Option 0. Why?

    Only the amount of your benefit changes, not the option itself. So, although your benefit was popped-up and you are now receiving the maximum benefit, your option does not change to Option 0.

  11. How can I obtain a copy of the Pension Payment Calendar, which shows the check mailing and direct deposit dates?

    The 15-month Pension Payment Calendar is included in News & Notes, an annual retiree newsletter mailed with your Retiree Annual Statement. It is also available on the Your Retirement Pension Payment Calendar page of our website. We no longer do a separate mailing of the Pension Payment Calendar to all retirees.

  12. How can I obtain information about my death benefit and beneficiaries? That information isn’t on my Retiree Annual Statement.

    You can obtain information about your death benefit and beneficiaries by writing to:

    New York State and Local Retirement System

    Attention: Pension Payroll Unit

    110 State Street

    Albany, NY 12244-0001

    Please be sure to include your retirement number or Social Security number in your correspondence.

  13. It’s helpful to receive an annual Statement, but I’d like to check my pension information more frequently. Is there a way I can do this?

    If you are enrolled in Retirement Online, you can view your personal retirement information such as your latest pension payment and year-to-date totals from a secure area on our website. If you aren’t enrolled in Retirement Online, take a few minutes to learn about this convenient service.

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